May/June 2013 - The ASIA Miner

Exploration Spotlight
Tuvatu mineralized zone extended
RESULTS from recent diamond drill holes at Lion One Metals’ Tuvatu
Gold Project in Fiji have significantly extended the zone of mineralization
at the site. The company says the results confirm
thicknesses and grades of lodes mapped on the surface, after the
drill holes targeted the western extension of the previously drilled
mineralization. These lodes have been mapped at surface up to
1330 metres along strike to the west.
Highlights from the results include 2.32 metres from 148.54 metres
@ 62.81 grams/tonne gold and 31.6 grams/tonne silver; 2.55 metres
from 78.99 metres @ 22.56 grams/tonne, 1.39 metres from 89.43
metres in the same hole @ 10.56 grams/tonne and 3.66 metres from
142 metres also in that hole @ 15.68 grams/tonne; 3.59 metres from
89.70 metres @ 15.438 grams/tonne gold; and 2.18 metres from
308.48 metres @ 3.13 grams/tonne, including 0.65 metres from
309.7 metres @ 10.35 grams/tonne.
“The latest drill holes were spaced on 80 metre centres in a zone extending
up to 250 metres west of the existing Tuvatu resource area,
with further additional resource definition holes planned. The company
believes further drilling on these extensions has the potential to
significantly increase both the tonnage and resources of the Tuvatu
project,” says Lion One vice president Hamish Greig.
In 2012 the company reported three other significant high grade
holes within the same area. These recent results complement the
previous drilling by extending the mineralization identified in those
holes and in particular, highlight the thickness and grade continuity.
Previous results include 3.78 metres from 121.99 metres @
16.15 grams/tonne gold, 7.49 metres from 155.05 metres @
23.03 grams/tonne and 11.9 metres from 128.55 metres @ 11.77
grams/tonne.
Lion One is now conducting further work in the area which is focusing
on closer-spaced definition drilling planned for 40-metre spaced
holes which the company hopes will allow for the eventual resource
calculation of this new zone. Drilling and surface mapping is ongoing.
Tuvatu is on the Viti Levu Lineament which hosts Fiji’s known
gold deposits, including the 11 million ounce Vatukoula deposit.
Low sulphidation, epithermal gold veins at Tuvatu occur along the
margins of the eroded Navilawa volcanic centre in a multi-phase
geologic environment.
Maximus granted access to Woomera area
MAXIMUS Resources has received a Deed of Access (Minerals Exploration)
from the Commonwealth of Australia authorizing on-ground
exploration activities on the Billa Kalina tenement within Woomera
Prohibited Area, 600km north-northwest of Adelaide, South Australia.
Receipt of the Deed of Access is the culmination of more than 12
months’ of collaboration between Maximus, the Federal Department
of Defence personnel and joint venture partner ERO Mining.
Maximus is pleased to achieve this outcome and has progressed
plans for on-ground exploration activities. The activities include a ground
gravity survey to validate the dataset that previously identified the
Peeweena Dam anomaly. The historical dataset indicates that the
Peeweena Dam anomaly is a significant 10 mgal gravity feature of potential
iron oxide, copper, gold and uranium (IOCGU) mineralization,
located between the major Olympic Dam mining operation of BHP
Billiton and the Prominent Hill mine of Oz Minerals.
The ground gravity survey and potential follow-up drilling requirements
are funded by ERO as part of its earn-in requirements under
the farm-in and joint venture agreement between Maximus and ERO.
Under the farm-in agreement, ERO has the option to earn a 50% interest
in the tenements by spending Aus$3 million over the life of the
agreement. ERO has held discussions with survey contractors to
complete the initial ground gravity survey.
Maximus says the outcome allows it to recommence exploration
activities on Billa Kalina whilst continuing discussions with potential
joint venture partners on the Adelaide Hills gold focused tenement
holding in South Australia and continuing to explore on the highly prospective
Narndee polymetallic tenements in Western Australia.
Late last year Maximus undertook a stage 2 reverse circulation (RC)
exploration drill program on its highly prospective Narndee project in
the Murchison region of Western Australia. The 9-hole program followed
an initial drill program last April that generated extremely encouraging
results including high grade zinc at 5.98% and anomalous
nickel and copper assay results.
The program included two holes to a depth of 300 metres targeting
depth extensions to anomalous base metal grades reported in the
stage 1 drill program, associated with airborne EM recorded highs
and test the gTEM east dipping conductor concept. The remaining 7
holes targeted extensions both along strike and at depth of massive
sulphides encountered on both ND17 and ND 18 target zones.
The ND 18 (southern target) recorded anomalous copper assays
that are sufficiently encouraging to warrant an additional hole targeting
copper mineralization at depth. Six holes aimed to extend the
previous high grade zinc results on ND17. The company continues to
pursue significant massive sulphide structures with similar geology to
the Golden Grove polymetallic mine 120km west of the tenement.
Maximus Resources has started exploration of Billa Kalina tenement in South Australia.
72 | ASIA Miner | May/June 2013