Perth, Dec 3, 2008 AEST (ABN Newswire) - Strategic Minerals Corporation N.L. (ASX:SMC) is pleased to announce that highly significant sample assay results have just been received from its recent drilling program at its new Big Vein and Big Vein No. 2 targets.
Surface sampling in 2008 identified gold mineralisation over a broad domain of veined structures in the Mowbray area with a strike length of at least 2.5km.
Only one hole was drilled into the main Big Vein target which recorded the following results:
Hole MBRC0009 5m @ 39.3 g/t Gold, from 40 to 45m down hole; (including 2m @ 91.95 g/t Gold) and, 1m @ 5.85 g/t gold, from 51 to 52m down hole
Two out three holes into the main section of Big Vein No. 2 recorded the following results:
Hole MBRC0007 12m @ 2.76 g/t Gold, from 4 to 16m down holeHole MBRC00011 5m @ 1.32 g/t Gold, from 11 to 16m down hole
The two best intersections were recorded in holes targeting veins where they project beneath thin (1-4m thick) Jurassic sandstone cover rocks).
Two holes drilled at the Mowbray NE area (the northern most exposure of the main structure) located approximately 1.75 km to the north of the Big Vein target, also recorded significant intersections as follows:
Hole MBRC0004 2m @ 4.55 g/t Gold, from 24 to 25m down hole;Hole MBRC0005 2m @ 1.71 g/t Gold, from 67 to 69m down holeHole MBRC0003 intersected an old open mining stope at the target position.
The drill holes are widely separated and the mineralised intersections are open in all directions. The dips of the mineralised veins are not well understood at this stage, but are thought to be generally steep. Summary drilling results and drilling location statistics are provided in Tables 1 & 2 below.
The holes which returned the significant intersections were part of a widely dispersed reconnaissance first pass drill program directed at targets defined by surface sampling programs conducted in 2008. Previously published data relating to the targets are outlined below.
The Company is designing a follow-up drill program to be implemented ASAP.
Drill Target Overview
The new targets are located within the historical Woolgar Goldfield approx 7 kms to the west of the established Sandy Creek epithermal vein system which hosts the majority of the projects published 774,000 oz gold resource.
The new target areas were highlighted by soil sampling, and are located to the SE and E of historical gold mines at Mowbray.
Extensions of the soil sampling surveys (ASX Release dated 28th July 2008) to the North and South of the Big Vein anomalies have identified additional significant gold anomalies over a 2.5km strike length. Soil samples are -80 mesh sieved samples collected at a 20m spacing on 100m spaced lines.
The most prominent anomaly identified by the recent sampling, is a major >0.05ppm gold in soils anomaly at Mowbray NE, located along strike to the NNE of the Big Vein area. The >0.05ppm anomaly is approximately 600m x 125 m and has a peak value of 0.52ppm gold.
Initial rock sampling from the area returned maximum values of up to 91.4 g/t gold and 12.9g/t gold from vein outcrops, and several lower grade gold mineralised samples (Table 1). Initial mapping has identified several intersecting gold mineralised structures within the anomaly.
In July the Company identified two extensive, >0.05ppm gold in soils anomalies, with peaks of 0.45ppm and 0.47ppm gold respectively, which occur on either side of a ridge covered by a blanket of Jurassic sandstone. The sandstone masks the underlying rocks which are prospective hosts to gold mineralisation. The gold anomalies and mapped gold mineralised veins project under the Jurassic cover, and are likely to be a single larger gold anomalous zone >450m x 200mA small 200m diameter "bullseye" magnetic anomaly is situated immediately adjacent to the gold anomalies. The source of the magnetic anomaly is masked by the Jurassic sandstone cover rocks. A weak magnetic anomaly is associated with the Kidston gold deposit located to the north of the Woolgar Project area.
New Mapping has indentified two major sub-parallel veined structures coincident with the anomalies, to date these have been mapped and sampled over a strike length of approximately 1km. The soil anomaly on the eastern side of the Jurassic sandstone ridge coincides in part with the historical 'Big Vein' gold workings. The historical workings were shallow.
Initial rock sampling returned a maximum value of up to 29.4 g/t gold from Big Vein and 7.48g/t gold from Big Vein 2, and several lower grade gold mineralised samples (Table 1).
Additional smaller high level gold in soil anomalies have been highlighted by the current sampling, with peaks as high as 3.03 ppm gold. The majority of these anomalies coincide with outcropping lodes with historical shallow gold workings.
Table 1. Mowbray area 2008 drilling results; significant intersections > 1g/t gold from the 11 holes completed at the Mowbray area.
-----------------------------------Hole ID Depth (m) Gold Intercept From To -----------------------------------MBRC0004 17 18 1m @ 1.06 g/tMBRC0004 24 26 2m @ 4.55 g/t-----------------------------------MBRC0005 67 69 2m @ 1.71 g/t-----------------------------------MBRC0007 4 16 12m @ 2.63 g/t-----------------------------------MBRC0009 40 45 5m @ 39.30 g/tMBRC0009 51 52 1m @ 5.85 g/t-----------------------------------MBRC0011 11 16 5m @ 1.32 g/t-----------------------------------
Table 2. Mowbray area 2008 drilling summary data.
--------------------------------------------------------Hole ID East(m) North(m) RL(m) Dip Azimuth End of Hole Depth (m)--------------------------------------------------------MBRC0001 741101 7809968 374 -60 280 80 MBRC0002 741112 7810000 367 -60 180 60MBRC0003 741048 7809922 375 -60 295 45MBRC0004 741105 7809918 385 -60 290 100MBRC0005 741118 7809901 385 -60 128 70MBRC0006 740204 7809048 380 -60 130 90MBRC0007 740409 7808332 411 -55 290 68MBRC0008 740421 7808328 412 -60 290 70MBRC0009 740480 7808145 418 -60 103 70MBRC0010 740698 7808586 385 -60 280 48MBRC0011 740186 7807840 392 -60 300 55--------------------------------------------------------
Competent Person Declaration
The information in this report that relates to exploration results is based on information compiled by Strategic Mineral Corporation NL's Technical Director Mr Roland Bartsch MSc. BSc. (Hons.) who is a member of the Australian Institute of Mining and Metallurgy. He has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration, and to the activity undertaken. He is qualified as a competent person as defined in the 2004 Edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves ". He has consented to the inclusion of this information in the form and context in which it appears. The Australian Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Contact
Roland Bartsch
Co-Managing Director
Email: roland@stratmin.com.au
Website: www.stratmin.com.au
Telephone: +61-8-9388-8399
Facsimile: +61-8-9388-8676
| ||
|
