Victoria River Downs Summary Plan
Perth, June 17, 2009 AEST (ABN Newswire) - Anglo Australian Resources NL (ASX:AAR)(PINK:AAURF) is pleased to announce that it has successfully applied for co-funding of a helicopter supported gravity survey at its Victoria River Downs Project in the Northern Territory. Under the Geophysics and Drilling Collaboration program the Northern Territory Government provides 50% of costs - up to A$100,000 - to assist companies with the costs of exploration geophysics or drilling in remote areas.
Anglo Australian Resources NL is targeting sedex style base metal deposits (Zn - Pb) in the Victoria River Basin. The Victoria-Birrindudu Basin has strong affinities to the Macarthur and Nicholson Basins which host the giant Macarthur River and Century sedex style Zinc deposits. The project, located 200 km east of Kununurra (WA) and 250 km southwest of Katherine (NT), covers a sequence of Proterozoic sediments dominated by dolomitic carbonates and other fine grained sediments. The sequence is generally flat lying with an overall very shallow dip to the North East. A number of stratigraphic horizons have been identified as having potential to host sedex deposits. The project area also contains a number of galena occurrences. Lead isotope dating of these occurrences indicates the Victoria-Birrindudu Basin rocks are the same age as all the Proterozoic basins which host Australia's largest base metal resources.
Major regional structures transecting the basin have been recognized and interpreted to be growth structures that could have been feeder structures to base metal rich fluids. The proposed gravity survey, planned to commence in July 2009, is designed to target a major north south fault and associated splay faults and domes over a strike length of 50km which is associated with extensive base metal anomalous stream sediment geochemistry. It is anticipated that the survey will better define basement structure as well as providing sufficient detail to target specific gravity anomalies (reflecting high density sulphide deposit) for closer spaced gravity measurements and eventually target drilling.
Anglo Australian Resources NL is also encouraged by the success of Proto Resources & Investments Ltd intersecting copper mineralisation while testing a combined gravity/ magnetic anomaly within sediments of the Limbunya Formation, 35km east of the company's Victoria River Downs tenements. A similar bulls-eye magnetic anomaly (35km north east of Lindeman's Bore) is located on EL 25728 within Limbunya Formation sediments and adjacent to a major regional structure. The proposed gravity survey will also cover this area.
Other Exploration activity
The company is also pleased to announce that a 12 hole RC drilling (totalling approximately 1100m) has been completed at the Rogan Josh prospect within the Feysville project. Rogan Josh presents a compelling open pittable supergene and bedrock target at the current Australian gold price. Previous drilling by Western Mining had identified a gold anomaly with intersections such as 8m @ 3.3g/t Au; 2m @ 8.8g/t Au and 2m @ 4.28g/t Au. This previous drilling identified sub horizontal supergene plus 1g/t Au anomaly over a strike length of at least 700m, with a vertical width of 2-8m. Final results from the current program are expected within 4-6 weeks time.
Contact
Angus C Pilmer
Executive Director
Tel: +61-8-9486-7211
Peter Komyshan
General Manager Exploration
Tel: +61-8-9322-5811
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