Syndicated Metals Ltd.: Diamond drilling underway at Andy´s Hill IOCG Copper-Gold Target
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Syndicated Metals Ltd.: Diamond drilling underway at Andy´s Hill IOCG Copper-Gold Target
RC DRILLING SET TO RESTART AT KALMAN
HIGHLIGHTS
•Diamond drilling underway to test an exciting IOCG target at Andy’s Hill located 8km from the Kalman deposit;
•Target is directly beneath an historic copper intersection and coincident with a strong magnetic and ground EM anomaly;
•RC drilling to recommence at Kalman to test near-surface copper-gold potential.
Syndicated Metals Limited (ASX:SMD) (“Syndicated”) is pleased to announce the re-commencement of its 2011 drilling program following finalisation of landholder access and compensation agreements required under new Queensland legislation.
Diamond drilling of an Ernest Henry style IOCG (iron oxide copper gold) target at Andy’s Hill, 8 kilometres west of the Kalman Cu-Au-Mo-Re deposit has commenced and is expected to take approximately 3 to 4 weeks to complete, while at Kalman RC drilling will recommence to continue with the systematic testing of the near surface copper-gold potential of the deposit.
Kalman and Andy’s Hill are located approximately 60 kilometres to the southeast of Mount Isa within the Kalman Joint Venture with Cerro Resources NL (ASX:CJO).
Andy’s Hill
At Andy’s Hill a surface zone of strong “red-rock” alteration and copper soil anomalism is coincident with a strong magnetic anomaly and a ground EM anomaly.
A diamond drill hole completed by a previous explorer in 1976 intersected 125 metres averaging 0.12% copper but is considered to have terminated above the interpreted positions of the deeper EM and magnetic anomalies which will be tested by Syndicated’s planned 400 metre drill hole.
The Andy’s Hill prospect is considered to represent a prime iron-oxide copper-gold target (IOCG or Ernest Henry type). This view of the prospectivity of Andy’s Hill is supported with the award of a Queensland Government co-funding drilling grant to test this target.
Kalman
At Kalman the RC program is designed to define shallow open-pittable copper-gold and molybdenum-rhenium mineralisation in the upper parts of the deposit which has the potential to considerably boost the development potential of the project.
The limited previous shallow drilling along the 1000 metre long surface expression of the deposit carried out by the previous operaters which intersected significant copper and gold intercepts including 25 metres at 1.5% Cu and 0.25g/t Au from 38 metres, 20 metres at 1.1% Cu and 0.9g/t Au from 22 metres and 13 metres at 1.2% Cu and 0.7g/t Au from 46 metres depth supports this contention.
The first five holes drilled by Syndicated at Kalman in July this year returned significant shallow copper, gold, molybdenum and rhenium results including 20 metres at 0.82% Cu and 0.59g/t Au and 5 metres at 0.3% Mo and 10g/t Re, further supporting the Company’s confidence in the open pittable potential of zone.
About 2000 metres of RC drilling is planned in the current program. The existing Kalman resource will be remodelled when the results of this drilling are received.
Competent Person’s Statements
The information in this report that relates to Exploration Results or Mineral Resources is based on information compiled by Mr Russell Davis who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). Mr Davis is a full-time employee of Syndicated Metals Limited and consents to the inclusion in the report of the Exploration Results and Mineral Resources in the form and context in which they appear
Company Background
Syndicated is focused on the discovery and development of base metal deposits within its prospective project areas in the mineral-rich Mount Isa region in Northwest Queensland.
Syndicated is building a significant metal resource inventory in the Mount Isa region with its interests in the Barbara (copper-gold) and Kalman South (molybdenum-rhenium-copper-gold) deposits, both within 60 kilometres of existing infrastructure at the Mount Isa mining centre.
Korea Zinc Company Ltd, through its Australian subsidiaries holds a 13% interest in Syndicated.
For further information on the Company view our website at www.syndicatedmetals.com.au or contact:
Russell Davis
Managing Director
T: 0419 195 087
Martin Pyle
Chairman
T: 0429 999 552
Kalman Project Area
To view the entire news please follow the link:
http://www.irw-press.com/dokumente/SyndicatedMetals_090112_English.pdf
Andy’s Hill Cross-Section
To view the entire news please follow the link:
http://www.irw-press.com/dokumente/SyndicatedMetals_090112_English.pdf
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Datum: 09.01.2012 - 09:27 Uhr
Sprache: Deutsch
News-ID 101900
Anzahl Zeichen: 5571
contact information:
Town:
Wien
Kategorie:
Business News
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