AOH0382 - Roseby Project Drilling Update.pdf - Altona Mining

otc.nfmf.no
  • No tags were found...

AOH0382 - Roseby Project Drilling Update.pdf - Altona Mining

ASX: AOH, FSE: A2O4 September 2012ROSEBY PROJECT: DRILLING UPDATE• Thick high grade intercepts highlight upside at Lady Clayre• 36 metres at 1.1% copper, 0.5g/t gold• 50 metres at 0.7% copper, 0.2g/t gold• High molybdenum (2.1%) and rhenium (10g/t) in one holeAltona Mining Limited (“Altona”) has completed 6,520 metres of drilling comprising 29 ReverseCirculation drillholes at the Lady Clayre and Ivy Ann deposits at its 100% owned Roseby Project(“Roseby”) near Mt Isa in Queensland, Australia.The drilling was targeted to increase the current resource inventory and upgrade parts of the resourcesto indicated category.Highlights include:Lady Clayre :LCR187:LCR188:LCR185:LCR191:LCR185:36m @ 1.12% copper, 0.53g/t gold from 0m50m @ 0.73% copper, 0.23g/t gold from 257m57m @ 0.53% copper, 0.14g/t gold from 117m37m @ 0.64% copper, 0.44g/t gold from 10m28m @ 0.76% copper, 0.04g/t gold from 24mIvy Ann:IAR238:IAR234:IAR233:IAR237:43m @ 0.41% copper, 0.06g/t gold from 7m18m @ 0.53% copper, 0.07g/t gold from 66m14m @ 0.58% copper, 0.09g/t gold from 27m16m @ 0.47% copper, 0.07g/t gold from 81mA full tabulation of the drilling results is given in Tables 1 and 2 (Appendix 1) and intercept aggregation,assay and drilling methodology are given in Appendix 3.The Lady Clayre deposit has an existing Resource of 14Mt at 0.56% copper and 0.20g/t gold. Infill andextension drilling was targeted to identify possible extensions and to infill inferred resources. It isexpected that upgrades to Resource classifications and increases to estimates will result from thedrilling.Two high grade individual molybdenum assays were received grading up to 2.1% molybdenum and upto 9.8g/t rhenium. These results indicate the possibility for Merlin type mineralisation that has beenreported by Ivanhoe Australia south of Cloncurry. Interpretation of this mineralisation requires reassayingof old samples for molybdenum and rhenium which have not been assayed previously.Lady Clayre is a complex deposit and differs from other deposits in the field. It is poorly understoodand a complete re-interpretation of geology and mineralisation is underway.AOH0382Altona Mining Limited | Ground Floor, 1 Altona Street, West Perth WA 6005 | ABN 35 090 468 018


The Ivy Ann resource of 7.5Mt at 0.57% copper and 0.07g/t gold has clear potential to grow. Drillingwas targeted to infill the northern portion of the current inferred resource to improve resourceclassification and test extensions to the north.Drilling at Ivy Ann infilled two separate low grade zones of inferred resources. No significant extensionswere delineated.Molybdenite (grey) in RC chips (quartz) with chalcopyrite(yellow) from Lady ClayreRC drilling at Lady Clayre. Knapdale Range and MMG’s Dugald Riverdevelopment are on the horizonAOH0382 2.


Please direct enquiries to:Alistair Cowden James Harris Axino AGManaging Director Professional Public Relations Investor & Media RelationsAltona Mining Limited Australia GermanyTel: +61 8 9485 2929 Tel: +61 8 9388 0944 Tel: +49 (711) 25 35 92 30altona@altonamining.com james.harris@ppr.com.au service@axino.deAbout AltonaAltona Mining Limited has a copper-gold-zinc underground mine and processing plant at Outokumpu inFinland. The project is ramping up to design production rate of 550,000tpa. The project produces bothcopper-gold concentrate and zinc concentrate for sale.The Roseby Project near Mt Isa in Queensland is one of Australia’s largest undeveloped copperresources. A Definitive Feasibility Study (DFS) has been completed which envisaged the production of39,000 tonnes per annum of copper, and 17,000 ounces per annum of gold for 10 years from a largescale open pit-mining operation. Environmental and regulatory approvals are well advanced.Altona Mining is listed on the Australian Stock Exchange (AOH) and the Frankfurt Stock Exchange(A20).Competent Persons StatementInformation in this ASX Release that relates to Exploration Results, Mineral Resources or Ore Reservesand in particular to data quality, is based on information compiled and reviewed by Dr Alistair Cowden,BSc (Hons), PhD, MAusIMM, MAIG and Mr Jani Impola, MSc, MAusIMM who are both full timeemployees of the Company and who have sufficient experience which is relevant to the style ofmineralisation and type of deposit under consideration and to the activity which they are undertaking toqualify as Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting ofExploration Results, Mineral Resources and Ore Reserves’ (The JORC Code). Dr Cowden and MrImpola consent to the inclusion in the release of the matters based on their information in the form andcontext in which it appears.AOH0382 3.


Figure 1: Copper deposits in the central portion of the Roseby Project and location of Lady Clayre andIvy Ann depositsAOH0382 4.


Figure 3: The Ivy Ann deposit, showing 2012 drill holes and significant interceptsAOH0382 6.


APPENDIX 1: DRILL RESULTSTable 1: Significant drill intersections at the Lady Clayre deposit grading above 0.4% CuHole IDFrom(m)Interval(m)Cu(%)Au(g/t)Ag(g/t)MineralisationTypeLCR179 28.00 3.00 0.73 0.09 15.97 SulphideLCR180No significant interceptsLCR181 57.00 5.00 0.44 0.00 7.57 SulphideLCR181 69.00 5.00 0.48 0.03 5.86 SulphideLCR182 0.00 3.00 0.42 0.58 0.63 OxideLCR183 179.00 9.00 0.46 0.25 0.18 SulphideLCR183 203.00 3.00 0.43 0.14 0.52 SulphideLCR183 214.00 4.00 0.44 0.09 0.41 SulphideLCR184No significant interceptsLCR185 24.00 28.00 0.76 0.04 10.70 Sulphideinc. 41.00 9.00 1.46 0.08 4.32 SulphideLCR185 59.00 5.00 0.47 0.03 2.73 SulphideLCR185 117.00 57.00 0.53 0.14 2.36 Sulphideinc. 154.00 5.00 0.99 0.60 0.36 SulphideLCR186 171.00 38.00 0.51 0.08 0.24 SulphideInc. 176.00 5.00 1.55 0.34 0.44 SulphideLCR186 232.00 4.00 0.43 0.11 1.14 SulphideLCR187 0.00 36.00 1.12 0.53 19.44 Oxide & Sulphideinc. 0.00 24.00 1.41 0.71 23.92 Oxideinc. 25.00 11.00 0.58 0.18 11.23 SulphideLCR187 58.00 4.00 1.06 0.10 10.31 SulphideLCR187 78.00 3.00 0.61 0.03 11.00 SulphideLCR187 90.00 8.00 0.41 0.13 6.48 SulphideLCR188 257.00 50.00 0.73 0.23 1.14 Sulphideinc. 285.00 7.00 2.02 0.44 0.54 SulphideLCR189No significant interceptsLCR190 9.00 11.00 0.44 0.02 5.04 OxideLCR190 96.00 3.00 0.60 0.00 0.57 SulphideLCR191 10.00 37.00 0.64 0.44 6.93 Oxide & Sulphideinc. 10.00 20.00 0.84 0.79 8.77 Oxideinc. 31.00 16.00 0.42 0.03 4.81 SulphideLCR192 46.00 10.00 0.71 0.29 6.42 SulphideLCR192 71.00 14.00 0.63 0.07 9.86 Sulphideinc. 72.00 3.00 1.22 0.18 31.37 SulphideLCR193 124.00 12.00 1.08 0.36 4.66 Sulphideinc. 125.00 4.00 2.23 0.70 8.43 SulphideLCR193 145.00 5.00 0.67 0.10 4.57 SulphideLCR194 171.00 7.00 1.03 0.30 0.29 SulphideLCR194 186.00 7.00 0.70 0.53 0.44 SulphideLCR194 206.00 14.00 0.51 0.29 0.59 SulphideLCR195 187.00 18.00 0.44 0.22 6.11 SulphideAOH0382 7.


Table 2: Significant drill intersections at the Ivy Ann deposit grading 0.4% CuHole IDFrom(m)Interval(m)Cu(%)Au(g/t)Ag(g/t)MineralisationTypeIAR233 11.00 3.00 0.66 0.07 0.32 OxideIAR233 27.00 14.00 0.58 0.09 1.19 Sulphideinc. 35.00 5.00 1.02 0.16 1.99 SulphideIAR233 102.00 7.00 0.68 0.06 0.84 Sulphideinc. 106.00 2.00 1.09 0.09 1.37 SulphideIAR233 186.00 6.00 0.50 0.02 1.03 SulphideIAR234 66.00 18.00 0.53 0.07 1.36 Sulphideinc. 72.00 4.00 1.48 0.20 4.05 SulphideIAR235 6.00 7.00 0.82 0.13 0.18 Oxideinc. 8.00 4.00 1.09 0.17 0.24 OxideIAR235 161.00 11.00 0.57 0.05 0.66 SulphideIAR236No significant interceptsIAR237 81.00 16.00 0.47 0.07 0.80 SulphideIAR238 7.00 43.00 0.41 0.06 0.43 Oxide & Sulphideinc. 7.00 16.00 0.53 0.10 0.34 Oxideinc. 32.00 18.00 0.40 0.05 0.55 SulphideIAR238 164.00 5.00 0.85 0.09 1.27 Sulphideinc. 168.00 3.00 1.22 0.14 1.13 SulphideIAR239No significant interceptsIAR240No significant interceptsIAR241No significant interceptsIAR242 111.00 6.00 0.49 0.02 0.29 SulphideIAR243No significant interceptsIAR244No significant interceptsAOH0382 8.


APPENDIX 2: DRILL HOLE LOCATIONSTable 3: Location of drill holes at the Lady Clayre deposit (AMG Zone 54 (AGD 84))Hole IDDepth(m)Easting Northing RL DIP AzimuthLCR179 142 409564 7752364 208 -60 81LCR180 132 409540 7752529 209 -60 81LCR181 210 409460 7752579 208 -60 81LCR182 102 409614 7752253 206 -60 81LCR183 270 409600 7752084 205 -60 81LCR184 354 409459 7752228 204 -60 81LCR185 240 409460 7752418 211 -60 81LCR186 270 409451 7752514 212 -60 81LCR187 276 409430 7752617 207 -55 81LCR188 348 409454 7752343 208 -60 81LCR189 300 409548 7751963 204 -60 81LCR190 132 409877 7752487 210 -60 122LCR191 120 409905 7752584 211 -60 122LCR192 264 409751 7752673 210 -60 122LCR193 150 409669 7752414 216 -60 122LCR194 312 409668 7752415 216 -70 122LCR195 300 409708 7752584 212 -60 122TOTAL 3,922Table 4: Location of drillhole at the Ivy Ann deposit (AMG Zone 54 (AGD 84))Hole IDDepth(m)Easting Northing RL DIP AzimuthIAR233 222 425688 7741551 188 -60 276IAR234 234 425687 7741604 187 -55 276IAR235 204 425694 7741751 187 -55 276IAR236 168 425693 7741851 185 -55 276IAR237 186 425694 7741800 186 -55 276IAR238 228 425698 7741703 183 -55 276IAR239 180 425669 7741807 185 -55 276IAR240 180 425697 7741950 184 -55 276IAR241 324 425792 7741840 186 -55 276IAR242 258 425774 7741747 186 -55 276IAR243 192 425668 7741768 182 -55 276IAR244 222 425800 7741940 185 -55 276TOTAL 2,598AOH0382 9.


APPENDIX 3: DETAILS OF DRILLING PROGRAMME AND SAMPLING, ASSAYINGDrillingLCR and IAR series holes were RC hammer drilled so as to produce maximum sample return with aminimum of contamination.Drilling was performed using a Swick Mining Services configured Schramm T685 Reverse Circulationdrill rig with face sampling hammer. Auxiliary air compressor and booster, with a minimum capacity of1,000psi and 2,700cfm, were utilised for sample return and dryness. All holes were drilled at 5.5 inchdiameter. RC drill chips were collected in one metre intervals at the rig using a rotary digest splitter.Assay MethodsAssaying was undertaken at Australian Laboratory Services (ALS) Townsville. A suite of 51 elementsincluding copper, silver and sulphur were determined by method ME-MS41 (Aqua Regia digest withICP-MS). Gold was determined by method Au-AA25 (30g fire assay with AAS). Samples with greaterthan 1% copper were re-analysed using an ore grade Aqua Regia digest and ICP-AES or AAS method(Cu-OG46). Other analyses with greater than 1% assays were analysed with Aqua Regia digest andICP-AES or AAS method (ME-OG46, Zn-OG46, Ag-OG46). Selected high grade Mo and Re sampleswere re-assayed using four acid digest and ICP-AES (ME-OG62) or four acid digest and ICP-MS (RE-OG62).Reference standards and blanks were inserted into the sample stream in the ratios 1:20 and 1:40respectively. Field duplicates were collected with every 20th sample.Data AggregationSignificant intercepts reported for those intercepts with average grades above 0.4% copper. Interceptswere calculated using a 3 metre minimum intercept length, a 6 metre maximum internal waste and alower cut-off grade of 0.3% copper.AOH0382 10.


APPENDIX 4: RESOURCE ESTIMATES FOR THE ROSEBY PROJECTSummary of Mineral Resource Estimates for the Roseby ProjectDEPOSITCOPPER-GOLD DEPOSITSTOTALCONTAINEDMETALMEASURED INDICATED INFERREDTonnes Grade Copper Gold Tonnes Grade Tonne Grade Tonnes GrademillionCu AuCu AuCu AuCu Autonnes ounces millionmillionmillion% g/t % g/t % g/t % g/tLittle Eva 100.3 0.54 0.09 538,000 271,000 36.3 0.63 0.08 41.4 0.48 0.08 22.6 0.49 0.11Ivy Ann 7.5 0.57 0.07 43,000 17,000 5.4 0.60 0.08 2.1 0.49 0.06Lady Clayre 14.0 0.56 0.20 78,000 85,000 3.6 0.60 0.24 10.4 0.54 0.18Bedford 1.7 0.99 0.20 17,000 11,000 1.3 1.04 0.21 0.4 0.83 0.16Sub-total 123.4 0.55 0.10 675,000 384,000 36.3 0.63 0.08 51.7 0.52 0.09 35.5 0.51 0.13COPPER ONLY DEPOSITSBlackard 76.4 0.62 475,000 27.0 0.68 6.6 0.60 42.7 0.59Scanlan 22.2 0.65 143,000 18.4 0.65 3.8 0.60Longamundi 10.4 0.66 69,000 10.4 0.66Legend 17.4 0.54 94,000 17.4 0.54Great Southern 6.0 0.61 37,000 6.0 0.61Caroline 3.6 0.53 19,000 3.6 0.53Charlie Brown 0.7 0.40 3,000 0.7 0.40Sub-total 136.7 0.61 840,000 27.0 0.68 25.0 0.64 84.7 0.59TOTAL 260.1 0.58 0.05 1,515,000 384,000 63.2 0.65 0.05 76.7 0.55 0.06 120.1 0.56 0.04See ASX release of 26 July 2011 for full details of resource estimation methodology and attributions and ASX releases of 19 December 2011, 23 April 2012,3 July 2012 and 22 August 2012 for subsequent updates.Note: All figures may not sum exactly due to rounding.Little Eva is reported above a 0.2% copper lower cut-off grade, all other deposits are above 0.3% lower copper cut-off grade.AOH0382 11.

More magazines by this user
Similar magazines