|
Na, wer sagt es denn: Third Quarter Activities Report Document date: Tue 30 Apr 2002 Published: Wed 01 May 2002 12:37:16 Document No: 262804 Document part: A Market Flag: Y Classification: Third Quarter Activities Report CLIMAX MINING LIMITED 2002-04-30 ASX-SIGNAL-G HOMEX - Sydney +++++++++++++++++++++++++ PHILIPPINES DIDIPIO FTAA LUZON Didipio Project - Gold, copper Climax interest: 92% Operator: Climax Mining Ltd Climax Mining carried out further engineering evaluations on the Dinkidi orebody during the quarter to optimise the development of the orebody over a number of stages in order to significantly reduce the initial capex to the region of US$30-60 million. PACO PROJECT SURIGAO PENINSULA, MINDANAO Copper, gold Climax interest: 100% Operator: Climax Mining Ltd The Paco tenements lie immediately to the west of the areas currently held by the Anglo/Philex Boyongan joint venture which has recently had significant drilling success within a large copper, gold porphyry. An exploration farmout has been executed with a major mining group. Commencement of exploration awaits renewal of the permits currently being processed by the Mines & Geosciences Bureau in Manila. AUSTRALIA JUNCTION REEFS Gold, copper Climax interest: 42.7% Homestake interest: 57.3% Operator: Cadia Holdings Pty Ltd (Newcrest) earning a 51% interest Newcrest Mining Ltd will earn a 51% interest in the Junction Reefs project for expenditure of $14 million. GOOLEY`S PROSPECT: Two diamond holes were drilled on the prospect in the quarter for a total depth of 2054.2 metres. Persistent low grade gold and copper values were intersected. Further drilling is planned in the June quarter. BLACK ROCK PROSPECT: Nine RC holes were drilled in the quarter to follow up the results of diamond drill hole NJC7 which intersected a 13.7m interval of 2.3 g/t gold, 1.59% copper between 45.6 - 69 metres. Each of the RC holes returned encouraging results. The better results were in NJRC004 as follows (2 metre composite samples >0.5 g/t gold). NJRC004 INTERVAL AU CU PB ZN AS 24-26 3.2 406 34 469 165 40-42 2.7 519 8 342 72 112-114 2.3 556 106 821 237 124-126 4.4 133 38 204 193 126-128 0.57 343 61 462 80 164-166 0.73 155 <5 219 46 176-178 1.4 256 <5 313 32 178-180 1.4 287 7 489 45 Further drilling on the western side of the Black Rock area is proposed in the next quarter. WARRENGONG: Hole NJC016 intersected low grade gold and copper over its 1371.5 metre length. TAROONA Gold, copper Climax interest: 100% Operator: MIM Exploration Pty Ltd (MIM) earning a 62.5% interest in Stage 1 Following completion of an advanced geophysical survey, MIM proposes to undertake a deep diamond drilling programme to test geophysical anomalies commencing later this year. FIJI MISTRY Gold Climax interest: 70% Operator: Millennium Mining (Fiji) Limited earning 51% to 70% Geological and structural mapping completed during 2001 in the vicinity of Kavukavu continued to be evaluated and several targets have been defined for additional exploration. Anomalous gold samples appear to coincide with an intrusion on the northwest flank of Mt Kavukavu. It is proposed to map and sample this area in detail upon commencement of the 2002 field season. EXPENDITURE Exploration expenditure during the quarter was $416,000. For further information, please contact: Climax Mining Ltd Telephone: (61 2) 9252 1066 Facsimile: (61 2) 9251 2410 -------------------------------------------------------------------------------- |
|
| aus der Diskussion: | Climax Mining +15% heute |
| Autor (Datum des Eintrages): | manfred1_I (02.05.02 20:40:13) |
| Beitrag: | 92 von 103 (ID:6319837) |
| Alle Angaben ohne Gewähr © wallstreetONLINE | |