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26 SEG NEWSLETTER No 65 • APRIL 2006... from 25Exploration Reviews (Continued)EXPLORATION REVIEWSfrom 241 m, and 30 m @ 9.2% Cu. Aninferred resource for Einasleigh is840,000 t at 3.6% Cu, 0.19 g/t Au, and16 g/t Ag. The inferred resource at thenearby Kaiser Bill prospect is 11 Mt at0.84% Cu, 0.15 g/t Au and 6.3 g/t Ag.CopperCo Ltd. reported that drillingat the Lady Annie project yielded anintersection of 22 m @ 6.7% Cu from173m downhole below the Lady Annieoxide resource. Other intersectionsincluded 23 m @ 0.45% Cu from 103 mand 10 m @ 0.82% Cu from 144 m.Recent drilling at Mount Kelly faultzone near Flying Horse gave results of24 m @ 4.7% Cu, 18 m @ 4.22% Cu,and 25 m @ 1.58% Cu.Matrix Metals Ltd. reported 28 m @2.93% Cu from 235 m at its McCabedeposit south of Cloncurry. This drillingwas to test extensions to the existingmineralization. The latest follow updrilling gave 18 m @ 3.5% Cu, and 8 m@ 3.39% Cu.Current exploration in Queensland isbeing assisted by the Department ofNatural Resources, Mines and Water’s$20M Smart Exploration initiativewhich is currently running groundgravity and airborne geophysics surveysin the Mount Isa region to expand discoveryin one of the world’s largest copperand base metals province.NEW SOUTH WALESThe search for Intrusion Related GoldDeposits (IRGD) in New South Waleshas accelerated, particularly in the Sn-W terrains of central and eastern NewSouth Wales. In the Lachlan Fold Belt(LFB), Moly Mines Dargues Reefdeposit is a recognized member of thisdeposit type, and farther west CullenResources is searching for similardeposits and their W analogues. In theNew England fold belt (NEFB) the onlyrecognised IRDG deposit is the minedoutTimbarra Au-Bi-Mo deposit, howeverMalachite Resources Phoenix discoveryalso displays characteristicstypical of this deposit type.At Boonoo Boonoo in the northernNEFB, Macmin Silver has drilled fourAu-Ag lodes with best results of 5 m @3.45 g/t Au and 133 g/t Ag at the Starof Hope Lode. Farther east, DrakeResources has recently completed adrilling program which has emphasizedthe potentially valuable zones of Zn ina previously defined resource below theStrauss pit at Drake. Intersections includedrill holes DP19 (20 m @ 6.2 g/t Au and2.03% Zn from 17 m depth, including 2m @ 9.1% Zn) and DP20 (11 m @ 3.8 g/tAu and 3.93% Zn from 6 m depth).In the LFB, very significant highgradeassays have been received for twoinfill holes in Triako Resources’ HeraAu-base metal deposit. Economic modellingof the project during the prefeasibilitystudy concluded that the returnfrom developing the Hera project ismost sensitive to changes in headgrade, in particular the gold headgrade. These new high-grade assays willfurther enhance the economics of theproject.Also in the LFB, results received byAlkane Resources from diamond drillingcontinue to add high-grade interceptswithin the Wyoming One resource.Intercepts include holes WY 838D (9 m@ 9.57 g/t Au from 207 m including 5m @ 15.6 g/t gold from 208 m) and WY839D (15 m @ 4.43 g/t Au from 99 m,and 6 m @ 7.98 g/t Au from 151 m).Visible gold was observed in severalintervals and these will be checked byscreen fire assay. These results follow onfrom the recent discovery of a new highgradestructure intersected by WY 831D,which returned an intercept of 66 m @19.49 g/t Au from 268 m.News from the Broken Hill provincehas been scarce lately with all the operatorsvery busy. However, another majorhas recognized the potential for worldclassbase metal deposits with TeckCominco entering into a JV with a syndicateof local NSW-based companiesover the Stephens-Centennial project.In the NE section of the province, theKoonenberry belt is considered highlyprospective, in part due to the recentmapping work by the GeologicalSurvey of NSW. Black Range Mineralshas reported high-grade Cu intersectionsat its Flagship prospect at BrokenHill, including 7 m @ 5.51% Cu located2 km west of the existing workings.SOUTH AUSTRALIAJoint venture partners AdelaideResources and Iluka Resourcesannounced the discovery of significantheavy mineral sand occurrence at theTripitaka prospect in the Eucla basin. Amineralized zone up to 2 km in lengthand over 1 km in width has been identified,with drill traverse lines identifyinga central core of heavy mineral sandscontaining 68% zircon. Some of thebetter intersections include: 21 m at5.6% HM from 1.5 m below surface, 21m at 4.1% HM from 1.5 m below surface,19.5 m at 3.5% HM from 6 mbelow surface.Gunson Resources reported theresults of a deep drilling program at itsChianti Cu prospect at Mount Gunsonin the Gawler craton. Hole MGD 34,completed to a depth of 600 m returned2 m at 3.4% Cu and 0.2 g/t Au from549-551 m. The mineralization occursas bornite and chalcopyrite in hematiterichgranite breccia.Havilah Resources intersected newCu-Au-Mo mineralization at a PIRSAsupportPACE drilling project 6 km S ofits Kalkaroo Cu deposit. Best resultsinclude 63 m @ 0.4% Cu and 69 m @0.67 g/t Au. The Kalkaroo deposit has aresource estimated of 70 Mt @ 0.47%Cu, 0.46 g/t Au, and 124 ppm Mo.Marathon Resources has commenceda 19-hole drilling program targetingthe Hodgkinson, Mt Gee, andArmchair-Streitberg U prospects locatedin the Mt. Painter inlier in the NorthernFlinders Ranges. Best results from thefirst three diamond holes from theHodgkinson prospect include 12 m @0.46% uranium oxide from 51 m and 2m @ 0.23% uranium oxide from 53 m.Maximus Resources have commenceddrilling to explore the downdippotential of the historic Bird in Handgold mine in the Adelaide Hills. Initialresults include 9 m (true width estimatedat 6.5 m) at 31.2 g/t Au, 58.3 g/tAg, 5.8% Pb, and 4.6% Zn from 158 m.Metals Exploration acquired theWingellina Ni laterite project in theMusgrave Range province and undertookat 20,000 m RC drill program.Wingellina contains an estimated 227Mt of ~1% Ni and 0.07% Co in a predominantlylimonitic host assemblageassociated with a layered dunitic intrusivecomplex. Drilling results include184 m @ 1.05% Ni, and 0.09% Co from8 m and 132 m at 1.18% Ni and 0.08%Co from surface.NORTHERN TERRITORYRenison Consolidated Mines has completeda 20-hole diamond drilling programat its Tom’s Gully gold mine,located 90 km south east of Darwin.The resource estimate for the deposit is
APRIL 2006 • No 65 SEG NEWSLETTER 27now around 2 Mt at an average gradeof 7.9 g/t Au.Following a $4 M capital raising,Redbank Mines (formerly Burdekin-Pacific) acquired the breccia-hostedRedbank Cu deposit in the NorthernTerritory. The company reports a mineralresource estimate of 4.2 Mt at anaverage grade of 1.5% Cu, for approximately63,000 t of contained Cu. Thefirst stage of production in March 2006will target a 54,000-t Cu oxide portionof the orebody with a 6% Cu grade.Thor Mining reported new resourceestimates for its Molyhil W-Mo explorationproject, located 220 km northeastof Alice Springs within the ProterozoicEastern Arunta Block. The updatedresource estimate for the skarn deposithas increased significantly to 2.4 Mt at0.8% combined WO 3and MoS 2 .XStrata Zinc announced a $66 Mplan to extend the life of the McArthurRiver Zn-Pb-Ag mine by 25 years bymoving from an underground to opencutmining operation. Located 900 kmSE of Darwin, the HYC deposit becamea mining operation in 1995, 40 yearsafter the MIM discovery of sedimenthostedPb-Zn mineralization at theremote McArthur River Station. Theshallow-dipping stratiform deposit ofMiddle Proterozoic age has measured,indicated, and inferred resources ofaround 124 Mt at approximately 13%Zn, 6% Pb and 60 g/t Ag. Annual productionis around 160,000 t Zn and30,000 t Pb.The redevelopment plan will requirea number of environmentally sensitivechanges to the existing site, includingthe rechannelling of a 5.5-km section ofthe McArthur River. XStrata says that ifthe open cut plan is not approved, themine will be forced to close. Approvalfor the development plan rests with theNT Minister for Mines and Energy.WESTERN AUSTRALIACBH Resources reports new drillingresults and resource estimates from itsSulphur Springs VMS Cu-Zn projectlocated 160 km SE of Port Hedland inthe Pilbara region. The new resourcecalculation based on open pit cut-offgrades have substantially increased theresource estimate to a total of 13.8 milliontonnes @ 3.7% Zn, 1.4% Cu, and21 g/t Ag (or 6.4% zinc equiv). CBHResources also announced a joint-venturedeal with Teck Cominco to explorethe Napier Range section of theLennard Shelf zinc-lead province.Ivernia is ramping up production atits unique Magellan Pb-oxide depositnear Wiluna to around 100,000 tpa Pbby mid-2006—equivalent to 3% ofworld production. Ivernia has stated itsmeasured and indicated resources as21.4 Mt grading 5.8% lead and containing1.24 Mt of lead, plus an inferred 7.2Mt at 4.6% lead.Jubilee Mines has conducted an infilland exploration drilling program tofirm up a resource estimate for itsProspero Ni deposit at 911,500 t grading6.64% nickel for 60,500 t of nickel.Intersections include 7 m grading 8.4%Ni, 4.3 m at 5.2% Ni and 3.4 m at10.6% Ni. The deposit remains open intwo dimensions.Fox Resources has announced a newZn discovery at its Ayshia prospect,located 1.6 km NE of its West WhundoVMS Cu-Pb-Zn deposit near its RadioHill Ni mine, 30 km SE of Karratha.Significant drill results include 14 m @10.4% Zn and 32.3 g/t Ag from 30 m,4m @ 3.2% Zn, and 35 g/t Ag from 28m, and 4 m at 5.2% Zn and 43 g/t Agfrom 33 m. Four of the eight holesshowed no significant mineralization.The company is targeting an open-pitoperation exploiting the West Whundoresource of 894,000 t grading 2% Cu,1.4% Zn, and 3.3 g/t Ag.Abra Mining Ltd. reported significantdiamond drilling results from its MulgulPb-Zn-Cu project, located 200 km N ofMeekatharra. Hole AB28 returned ahigh-grade zone of 12 m @ 12.6% Pbwithin an overall intersection of 178 m@ 4.5% Pb, 0.1% Zn, and 0.12% Cufrom 358 m. Hole AB33 had a highgradezone of 8 m @ 20.2% Pb, withinan overall intersection of 276 m @ 3.1%lead, 0.1% zinc, and 0.11% copper from344 m. The high-grade zone, which typicallyassays in excess of 10% Pb, hasnow been identified over an area ofapproximately 200 m diameter. Thepolymetallic deposit, discovered in 1981by GeoPeko, has characteristics similarto sedimentary exhalative (SEDEX) Pb-Zn deposits but with a poorly understoodzone of Cu-Au enrichment.Jabiru Metals reported furtherencouraging drilling results at itsJaguar VMS Cu-Zn deposit, including79.5 m @ 3.9% Cu, 3.5% Zn, 79 g/t Ag,and 0.2% Pb. Development work isunderway at the project with productionplanned to begin in mid-2007. TheJaguar mine is expected to produce123,400 t zinc, 41,000 t copper and3.921 Moz of Ag over its five-year life.NEW ZEALANDNeptune Minerals commenced a 3 millionpounds sterling (~US$5 M) explorationproject for sea-floor massive sulfidedeposits on inactive vents along theKermadec Arc, northeast of the TaupoVolcanic Zone. The Kemadec 2005expedition, completed in December2005, collected 23 cores, 29 sea-floorsamples, and 70 line km of high-resolutionmulti-beam swath mapping of thesea-floor bathymetry. Assays confirmthat sampled massive sulfide chimneyshave elevated base and precious metalcontent.Aurora Minerals Ltd. completed 350m of diamond drilling in 3 holes and1,600 m of RC drilling in 16 holes intheir Backyard prospect of theHazelbrook epithermal gold project inNorthland. A fourth diamond hole wasstarted. Drilling intersected quartz veiningand brecciation, but assays availableto date for the 3 DDH returnedonly trace gold.Glass Earth Ltd. acquired HPD NewZealand Ltd. and its 20 permits totaling4,040 km 2 in the Coromandel,Marlborough, and Otago regions. In theTaupo Volcanic Zone, Glass Earth commenceddetailed CSAMT resistivity surveyingover 16 of its 21 priority epithermalgold target areas, in conjunctionwith soil geochemical surveys, Drillingis planned to commence in April 2006.Underworld Resources (NZ) Ltd.completed EM and resistivity surveys,and follow-up trenching at the LottinPoint VMS prospect in the East Capearea, North Island. Results are beingevaluated to define drill targets.Auzex Ltd. completed reconnaissanceexploration on their Buller andRoss permits in western South Island.Tungsten and Mo-Cu mineralisationwas confirmed at Mt Radiant (Buller)and Kirwans (Ross), and mapping atthe historic Lyell gold mine (Buller)enhanced its potential for Au mineralization.Laser ablation analysis hasconfirmed that the granites near Rossand Buller have the potential to hostgranite gold systems. Detailed geochemicaland drilling programs are beingplanned.OceanaGold commenced drilling atthe Inkerman/Supreme mesothermalgold prospect 2.5 km south of theirGlobe-Progress project in the Reeftongold field, South Island. The Globe-Progress mine developmentis proceedingto pagewith a target gold28 ...EXPLORATION REVIEWS
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