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29th September 2005 Australian Stock Exchange Company Announcements Office Announcement First Kodu Drill Hole Returns 22m Grading 0.50% Copper + 0.72 g/t Gold, Within +500m Mineralised Intercept TasGold Ltd is pleased to report that assay results from the company’s first diamond core hole at the Kodu Deposit - Mt Bini Joint Venture with South Pacific Minerals, have been received. The most significant intercept assayed 0.50% copper + 0.72 g/t gold over 22m from 72m downhole, within 516m containing 0.13% copper + 0.21 g/t gold. Mineralisation occurs from surface in broad potassic and propylitic altered zones within diorite porphyry and lesser wallrock. Individual peak assays were 0.98% copper and 1.34 g/t gold. Hole KD 001 assay results have documented a deep, copper and gold mineralised system on the eastern margin of the Kodu intrusive, in its northern sector. Our drilling to date has been concentrated in this sector and visual appraisals of holes 2, 3 and 4 suggest similar overall tenors of mineralisation. The system appears to have better mineralisation /resource expansion potential to the south and west of our initial drilling. This SW strike extension is now being targeted ~1,000m SW of hole 1 with hole KD005 at the Sirimu Prospect (should commence 29/9/2005). The planned 300m drill hole will test a cohesive >0.1 g/t gold in soil anomaly 550m x 250m in extent, with a peak of 0.621g/t gold. This soil anomaly is similar in general size and tenor to that at Kodu and has never been previously drilled. Historic Sirimu trench results include: 35m of 1.09 g/t, 30m of 1.10 g/t and 60m of 0.79 g/t gold (incl. up to 5m of 2.70 g/t gold and separate grab samples up to20.3 g/t gold +5.6% copper). Gold and base metals anomalism at Sirimu is also associated with a nearby blind (non-outcropping) analytical signal anomaly. Similar anomalies at the main Kodu area are associated with magnetite bearing copper + gold mineralisation. TasGold is also pleased to note that the on-going trenching program at Andewa is locating quartz (silica–clay) veining within the ~2,500m long x 600m wide Komsen Prospect and tracing the system to the east of where most historic work occurred. Results from the company’s initial reconnaissance program at the Mt Andewa property included 3m of 14.26 g/t gold and 5m of 8.61 g/t gold (released 27/9/2005). TasGold is focussed on exploration in Tasmania and Papua New Guinea with a policy of ‘Year Round Drilling’ with its two environmentally friendly, man-portable diamond core drilling rigs. Targets are high-value mineral deposits including various porphyry Cu /Au, epithermal and intrusive related gold, VHMS silver/ base metals. In PNG, the company has 4 EL applications (2,500km2) and an agreement/JV with South Pacific Minerals Corp (TSX-V: SPZ) that grants a 15% free carried interest to completion of bankable feasibility study + financial closure on all ‘mining leases’ granted on 3 ELs+5 ELAs (7,500km2). TasGold also currently has 3 million shares or ~14.5% equity in South Pacific. For additional information relating to the company’s projects please visit our website at www.tasgold.com.au or call me on (08) 9295 0388. TasGold Ltd P.A.McNeil Managing Director M.Sc. |
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| aus der Diskussion: | News!!! ...9.1 g/t GOLD +36 g/t SILVER... |
| Autor (Datum des Eintrages): | topware (29.09.05 07:42:28) |
| Beitrag: | 3 von 377 (ID:18072290) |
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