Anglo Australian Resources Nl (ASX:AAR) Identified Targets For Massive Copper-Zinc Mineralisation At Leonora Project

Anglo Australian Resources NL (ASX:AAR) (PINK:AAURF) is pleased to announce that a Moving Loop Electromagnetic (MLEM) survey completed in May 2011 at the Leonora Project targeting potential massive copper-zinc mineralisation has discovered a strong 800m long bedrock conductor. The conductor, which defines the Artful Prospect, represents an exciting and compelling drilling target The Leonora Project is located 25 kilometres south of the Jaguar mine of Jabiru Metals Limited (ASX:JML) (Reserves: 3.23 Mt @ 1.8% Cu, 7.91%Zn, 99 g/t Ag, 0.4 g/t Au) and Jabiru's Bentley deposit (3.0 Mt @ 2.0% Cu, 9.8% Zn, 138 g/t Ag, 0.7 g/t Au).

Both these deposits were discovered by drill testing bedrock electromagnetic conductors.

These two volcanogenic massive sulphide (VMS) style deposits occur near the boundary between mafic and felsic units. The Leonora Project consists of two Exploration Licenses, located 10 km north of Leonora, which cover a 10 km long zone of felsic volcanics and sediments broadly analogous to the geology at Jaguar and Bentley.

Based on interpretation of previous aircore drilling and of aeromagnetic data, Anglo Australian Resources considers 7km of this zone is highly prospective for VMS-style mineralisation. As bedrock in the zone is mostly covered by younger transported sediments, the Company has used a MLEM survey as its primary exploration tool to search for VMS deposits that are generally highly conductive and amenable to location by such geophysical methods.

Preliminary interpretation of the newly discovered MLEM anomaly by geophysical consultants, Southern Geoscience, suggests the source of the conductor, (potentially massive or disseminated sulphide), commences at the base of weathering approximately 100m below surface and dips steeply south west Most previous exploration of the Leonora Project has focused on the gold potential and aircore drilling defined two gold-anomalous zones. Holes in only two of the multiple traverses of aircore drilling were assayed for copper, zinc and lead. The hole nearest to and on the strike trend of the conductor is highly anomalous in copper, as it contains a 9m interval assaying 600ppm Cu within weathered basalt compared to background values of 40 - 60 ppm Cu.

The discovery of the large MLEM anomaly is an exciting development that has greatly enhanced the potential of the Leonora Project to host VMS-style massive copper-zinc deposits similar to the Jaguar and Bentley deposits.

The anomaly will be drill tested as soon as possible following completion of detailed modelling of the conductor by Southern Geoscience.

For the complete Anglo Australian Resources announcement including figures,
http://www.abnnewswire.net/media/en/docs/542971.pdf


About Anglo Australian Resources Nl

Anglo Australian Resources NL (ASX:AAR) (PINK:AAURF) has been listed on the ASX as a junior explorer since 1986 focusing on gold and base metals. The company has now in place a strategy to move the company from a junior exploration company to a mid tier miner.

In the last three years we have advanced Mandilla from an exploration project to a producing gold mine. This mine, while lasting only nine months, is providing the company with cash flow to fund exploration and development work on the company’s key base metal project Koongie Park.

If the current high demand for base metals is maintained, development of this project has the potential to provide substantial revenue for the company. In addition Anglo Australian Resources NL is actively exploring its strong portfolio of tenements prospective for gold and base metal.

 

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