Initial drilling results received from the Hillside Project
(firmenpresse) -
Highlights:
- Encouraging results received from recent Hillside drilling
- Results demonstrate support for mineralised gossan model
- Down dip extension of mineralised gossan intercepted in two holes
- Best anomalous results received include:
- HRC 001: 1m (at) 0.19% Cu, 230ppm Co, 0.14% Zn, 0.07ppm Au from 28m
- HRC 022: 1m (at) 0.74% Cu, 349ppm Co, 0.41% Zn, 0.14ppm Au from 83m
- HRC 036: 1m (at) 0.18% Cu, 0.12% Zn from 25m, 1m (at) 0.27% Cu from 40m
- All Intercepts demonstrate down dip extensions to the mineralised gossan at surface exist
Fe Limited (ASX: FEL) (FEL or the Company) recently completed its first phase of preliminary drilling at the Hillside project targeting underground extensions to the periodically outcropping mineralised gossan identified during previous reconnaissance. A total strike length of 14km was mapped and sampled at outcrop resulting in high grade rock chip results as reported in ASX announcement 9 October 2019.
A total of 1798m from 36 holes were drilled at approximately 1km intervals along the length of the mapped gossan in a first pass drilling program targeting down dip extensions to the outcropping mineralisation.
Very little targeting data was available, and first pass hole locations were chosen using estimated dip and dip direction from the interpreted lineament of the mineralised strike. Supporting information included field observations, a coincident westerly dipping magnetic anomaly with its eastern extent coinciding roughly with the interpreted gossan lineament and the presence of highly leached surface lithologies indicating the possibility of sulphides at depth.
In order to minimise expense, all samples were pulverised and split in the lab with a total of 1,071 (including duplicates) select samples sent for assay based on the logged presence of quartz or visible sulphides. The remainder of the samples will be checked by portable XRF and sent for assay if anomalous results are returned.
The Company has now received all of the results. Initial interpretation shows three holes have been positively identified to have intercepted down dip extensions of the surface gossan. The holes with the intercepts span the entire length of the mapped strike length demonstrating down dip extension of the surface mineralisation. Grades in all intersections show strongly anomalous mineralisation and provide valuable guidance for hole location in the next phase of drilling. The central and northern most holes intercepted the anomalous zone towards the end of the respective holes which indicates why some of the other planned holes failed to intersect the target. The southernmost hole intersected a wide zone of anomalism from 23m down to 42m with increasing levels of zinc continuing below. All three holes intersected anomalism below the optimal supergene and enrichment zones. This information will allow more accurate dip data to be used in locating further follow up drilling and target depths which will attempt to intersect supergene and enrichment zone mineralisation. Figures 2, 3 and 4 show cross sections of the intersecting holes with the interpreted target body and show where other nearby holes failed to intersect.
In addition, one hole towards the northern extent of the project area returned strongly anomalous gold grades from targeted drilling in known gold bearing quartz veins (anecdotal evidence from prospectors). As the quartz veins are host to nugget gold, the anomalous grades returned can be considered significant and represent the presence of fine gold given no visible gold was logged.
FE Limited Chairman Tony Sage commented, We are encouraged by these results from Hillside and look forward to completing our interpretation and planning for the next phase of exploration. This knowledge will allow us to further understand the prospectivity of the area.
Figure 1. Schematic of typical gossan section:
https://www.irw-press.at/prcom/images/messages/2020/49977/20200210 Hillside first pass drilling results_FINALPRcom.001.jpeg
Figure 2. Section 7 599 760 North:
https://www.irw-press.at/prcom/images/messages/2020/49977/20200210 Hillside first pass drilling results_FINALPRcom.002.jpeg
Figure 3. Section 7 592 258 North:
https://www.irw-press.at/prcom/images/messages/2020/49977/20200210 Hillside first pass drilling results_FINALPRcom.003.jpeg
Figure 4. Section 7 586 060 North:
https://www.irw-press.at/prcom/images/messages/2020/49977/20200210 Hillside first pass drilling results_FINALPRcom.004.jpeg
Figure 5. Drill hole plan show section locations:
https://www.irw-press.at/prcom/images/messages/2020/49977/20200210 Hillside first pass drilling results_FINALPRcom.005.jpeg
Table 1. Drill Hole Locations:
Hole IDEastinNorthinRL Dip AzimutDepth
g g h
HRC001 7748807599753326 60 79 59
HRC002 7749057599757325 60 77 39
HRC003 7747987599678327 60 75 40
HRC005 7748687599257331 60 87 88
HRC005b7749007599256330 60 93 31
HRC006 7747117599252338 60 71 41
HRC007 7749957598203335 60 82 40
HRC008 7749357598190340 60 94 6
HRC008R7749347598190340 60 94 66
E
HRC009 7750127597258335 60 93 30
HRC010 7749527597259338 60 90 61
HRC013 7750337595184352 60 90 39
HRC014 7749867595157353 60 86 60
HRC015 7750407594249361 60 86 30
HRC016 7749987594241363 60 79 60
HRC017 7752177593257362 60 85 30
HRC018 7751557593249364 60 92 60
HRC019 7749497592959369 60 5 30
HRC020 7749507592939369 60 353 60
HRC021 7755697592247362 60 78 30
HRC022 7755357592246362 60 79 88
HRC023 7753337592256365 60 49 50
HRC024 7755117591246372 60 123 49
HRC025 7755467591212373 60 99 80
HRC027 7752057592656365 60 86 100
HRC028 7754597590265360 60 82 72
HRC030 7754097589246354 60 103 59
HRC032 7754047588251367 60 87 70
HRC033 7754307588243366 60 99 36
HRC034 7753347587256365 60 74 72
HRC036 7752527586069363 60 90 80
HRC038 7748007599688327 60 75 33
HRC039 7747827599738326 60 79 30
HRC039b7747947599740326 60 79 40
HRC100 7755787591193374 60 102 36
Announcement released with authority of the FEL board of directors.
Yours faithfully
FE LIMITED
Tony Sage
Non-Executive Chairman
For further information please contact:
Investor Relations
P:+61 8 6181 9793
Email: -ir(at)felimited.com.au
Follow us
Twitter: (at)FeLimited
LinkedIn fe-limited
COMPETENT PERSON
The information in this presentation that relates to Exploration Results is based on information compiled by Mr Olaf Frederickson. Mr Frederickson is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM) and 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 a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr Frederickson is a consultant to Fe Limited and consents to the inclusion in the report of the Exploration Results in the form and context in which they appear.
To view entire original news, please follow the link: https://www.asx.com.au/asxpdf/20200210/pdf/44dydcjt8vhm2k.pdf
Leseranfragen:
Datum: 10.02.2020 - 11:05 Uhr
Sprache: Deutsch
News-ID 606770
Anzahl Zeichen: 8404
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 399 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Initial drilling results received from the Hillside Project
"
steht unter der journalistisch-redaktionellen Verantwortung von
FE Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
