Bass Metals Ltd.: Another record at Fossey East; 9 metres at 35% Lead+Zinc.
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Bass Metals Ltd.: Another record at Fossey East; 9 metres at 35% Lead+Zinc.
•8.6 metres at 23.3 % zinc 12.1 % lead, 2.0 g/t gold, 184 g/t silver and 0.8% copper;
•4.45 metres at 19.4 % zinc 9.7 % lead, 1.8 g/t gold, 128 g/t silver and 0.5% copper ; and, within an,
•Overall zone of 20.1 metres at 14.7 % zinc, 7.5 % lead, 1.4 g/t gold, 114 g/t silver and 0.5 % copper in diamond drill hole FUD019.
Bass Metals Ltd (ASX:BSM) is mining and exploring for large scale, high-grade polymetallic (copper-lead-zinc-silver-gold) volcanogenic massive sulphide deposits in NW Tasmania. This report provides an update on the last drilling of the current Fossey East drilling programme, prior to completing an initial resource estimate. The Fossey East Prospect was discovered in September 2010 in close proximity to the new Fossey mine development.
Three Diamond drill holes (FUD019 to FUD021) were drilled from underground as presented schematically in Figure 1. FUD019 intersected two wide zones of very high grade mineralisation separated by seven metres of barite alteration; refer schematic cross section in Figure 2. The relevant assay intervals are headlined above and summarised in detail in Table 1. These intercepts are located approximately 15 metres east of the high grade intercept in FUD016 and confirms a very high grade zone within the Fossey East lens.
The other two underground diamond drill holes were designed to test the periphery of the Fossey East Lens (Refer Figure 1). Drill hole FUD020 intersected minor barite veins and FUD021 intersected an 18.2 metre wide zone of barite alteration with only minor base metal sulphides present. Whilst these drill holes have not intersected significant base metal mineralisation, the presence of the alteration demonstrates potential for extensions of the Fossey East system with a pinch and swell geometry in a similar manner as the barite alteration in HLD1017 swells out into high-grade mineralisation down-dip in HLD1015.
Bass Metals considers that sufficient drilling has now been completed to enable an initial mineral resource estimate to be completed by the end of February, 2011. Drilling to date has succeeded in defining a large, coherent outline of high-grade mineralisation. Further drilling will be undertaken to test for further mineralisation around and possibly off-set by the Easy Street Fault, when a drilling location from underground becomes available at the northern end of the Fossey Mine.
Yours Sincerely
Mike Rosenstreich
Managing Director
Please find the figures and the tables under the following link: http://www.irw-press.com/dokumente/ASX9Feb-eng.pdf
Competent Person
The information within this report that relates to exploration results is based on information compiled by Mr Kim Denwer and Mr Mike Rosenstreich who are both full time employees of the Company. Mr Rosenstreich is a Member of The Australasian Institute of Mining and Metallurgy and Mr Denwer is a Member of the Australian Institute of Geoscientists. They both, individually have sufficient experience relevant to the styles of mineralisation and types of deposits under consideration and to the activities currently being undertaken to qualify as a Competent Person(s) as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and they consent to the inclusion of this information in the form and context in which it appears in this report.
Technical Detail
This Report aims to provide a high level summary of various technical aspects of the Company’s projects. For more details on the underlying technical parameters the reader is referred to the ASX Reports on the Bass Metals’ website, www.bassmetals.com.au .
Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Bass Metals Ltd’s planned development and exploration programmes and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although Bass Metals Ltd believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.
ContactMedia
Mike RosenstreichDavid Brook
Managing Director – Bass Metals LtdProfessional Public Relations
Tel: (+61-8) 6315 1300Mob: (+61) (0) 415 096 804
About Bass Metals Ltd (ASX: BSM)
Bass Metals Ltd is a growth focussed and profitable Australian base and precious metal producer with a portfolio of high quality zinc, lead, copper and gold assets in the rich Mount Read Volcanic mineral belt in northwest Tasmania.
Listing in 2005, Bass has delivered operating profits for the past three years since 2008 based on its profitable base metals production hub at Que River in Tasmania.
The Company’s larger transformational Hellyer Mine Project is on track to commence production toward the end of 2010. With an initial through-put rate of 400,000 tonnes per annum (tpa), the 1.5 million tpa capacity Hellyer Mill will produce 55,000 tpa of zinc concentrate, 27,000 tpa of lead concentrates and 5,000 tpa of copper-silver-gold concentrates. In January 2010 the Bass signed a committed off-take contract with leading global multi-metals business, Nyrstar, for all zinc and lead concentrates produced from the Fossey mine.
The Company also has an active and successful exploration programme which has yielded new discoveries such as Fossey and new exploration targets through the use of new exploration techniques not applied in the district before. The Company’s has significant gold and polymetallic resources and is currently undertaking a feasibility study following on from positive scoping study outcomes indicating the potential to become a long-term, significant scale gold producer.
Bass has differentiated itself through successfully finding high grade polymetallic resources, strategically and incrementally building up its assets and production profile to now become an emerging mid-tier diversified mining business.
Leseranfragen:
Bass Metals Ltd
16 Thelma Street
West Perth WA 6005
Mike Rosenstreich,
Managing Director
Tel.: +61 8 9322 8044
Fax: +61 8 9481 2846
E-Mail: admin(at)bassmetals.com.au
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Datum: 09.02.2011 - 08:55 Uhr
Sprache: Deutsch
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