New Results from Moonta Copper Gold Project.
Assay results for 50 aircore holes drilled in 2011 at the Willamulka Prospect, and for a large number of calcrete geochemical samples collected from the broader Moonta Copper Gold Project area, have been received and assessed. Key observations are:
- At the Willamulka Prospect, copper-gold mineralisation (defined as being >0.2% copper and/or 0.1g/t gold) is present on 16 adjacent drill sections that define a mineralised strike length of 1200 metres. This mineralised zone remains open to the northeast and southwest.
- The Willamulka mineralised zone includes a shoot of higher grade, thicker mineralisation (hereafter called "Shoot A") centred in the area of previously released results but now shown to extend significantly further to the northeast and southwest.
- The strike or plunge length of Shoot A is at least 550 metres. It persists to the base of thin cover sediments on some drill sections and remains open at depth on most drill sections that currently define it.
- The new data confirms that Shoot A plunges at a shallow angle to the southwest, presenting the possibility that it will persist still further in this direction beneath the depth limit of current drilling.
- Deeper targets, including the areas where Shoot A remains open at depth and the down-plunge target area to the southwest, are well defined and the potential to increase the size of the Willamulka Prospect is excellent. Testing of these targets will utilise reverse circulation or diamond drilling methods.
- The new calcrete geochemistry assays have delineated a number of robust copper/gold anomalies that warrant exploratory drilling. One anomaly includes samples that have comparable gold values and higher copper concentrations to the samples which define the Willamulka geochemical anomaly, and represents a high priority target.
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