Perth, Dec 18, 2007 AEST (ABN Newswire) - Tamaya Resources Limited (ASX: TMR) is pleased to advise that its Australian gold exploration program around Charters Towers has confirmed the attractive gold chemistry of prospects which, when combined with the geomagnetics completed in the area, have resulted in the definition of several drill targets for 2008.
Tamaya controls several mining leases and exploration permits in the historical Rishton- Rochford goldfield, near Charters Towers, the most prospective being EPM 10,585, an exploration permit of approximately 240 km2.
Early in 2007, Tamaya appointed Terra Search Pty Ltd to manage the exploration programme on EPM 10,585, focusing on under-explored areas to the west of the Rishton mill known as the Cornishman, and to the north of Hadleigh Castle, known as Hadleigh North.
Tamaya Resources Chairman Mr. Hugh Callaghan said that the objective of the program was to generate drill targets with the potential for a million ounce resource.
"The area is not yet included in the Group's published gold resource estimate of 1.7 million ounces in all resource categories, published in September 2007. So we are very pleased with the results, and we are confident that in 2008 the Australian gold exploration and drilling program will augment the gold projects we are now developing in Armenia and Portugal," Mr. Callaghan said.
During the year, previous data, maps and reports were located, compiled and consolidated in a GIS-based data base in support of field activities. Detailed GPS-supported outcrop mapping, rock chip sampling, magnetic surveys and soil geochemical programs were conducted on selected areas of the exploration permit.
"The work to date over the Cornishman has confirmed the attractive gold chemistry of many prospects, such as the Cockfields, Mossvale, Cameron and Alfonso, and when combined with geomagnetics resulted in the definition of a number of drill targets," Mr. Callaghan said. Ground magnetic surveys were performed over the Cornishman sector (approx. 35 km2) and at Hadleigh North (approx. 6 km2), resulting in high resolution magnetic maps, which revealed a number of interesting structural features.
A major NE-trending lineament strikes across the anomalous Mossvale area, linking the trend of the Rishton Mine Corridor with the Boorli lineament which reaches down towards Mt Leyshon gold mine. Gold mineralization was identified on quartz veins associated with what appears to be a series of EW-trending Riedel shear structures crossing the lineament.
"The highest gold assays were obtained from narrow veins such as at Cockfields and Mossvale in the Cornishman sector. Encouraging results were also obtained from Hadleigh North," Mr Callaghan said.
As a result of the work completed during the year, eight targets have been proposed for drilling in 2008, including:
- Hadleigh North "old mine" with strong alteration and rock chip values of 12 and 18 ppm Au
- Cornishman central ferrugenous breccia with anomalous Pb, Cu, Bi to 1000 ppm
- Mossvale veins quartz veins up to 650 metres long with rock chip values of 50, 15 and 8 ppm Au
- Mossvale SE soil and rock chip anomaly with gold at 1460 ppb in soil, 4 and 24ppm Au in chip samples
- Cockfields quartz veins, with values of 7, 8, 11 and up to 42 ppm Au
- Alfonso roadside quartz vein 40cm wide with 3 and up to 9 ppm Au
- Alfonso base metals gossanous veins up to 4m wide with high background Pb, Bi and Zn
- Cameron quartz veins with rock chip samples of 6 to 11ppm Au
The Board of Tamaya Resources considers this a very good outcome, and looks forward to an opportunity to follow through with a comprehensive drilling program in the 2008 field season with a view to discovery of a substantial gold resource.
Contact
Hugh Callaghan, Executive Chairman
Tamaya Resources Limited
Media: Fortbridge +612 8399 0089
Bill Kemmery 0400 122 449
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