EV Resources Ltd: Broad Tin Zones from Drilling at the Khartoum Tin-Tungsten Project
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Highlights:
- Broad zones of tin mineralisation returned from drilling at Boulder, including 31m at 0.26% Sn and 62m at 0.18% Sn.
- Higher-grade drill results of 7m at 0.54% Sn (including 2m at 1.46% Sn) and 5m at 0.71% Sn.
- Initial assessment of tungsten targets returned rock chip results of 1.0% W at Gows and 2.01% W at Fingertown.
EV Resources Limited (ASX:EVR) (“EVR”, or the “Company”), is pleased to provide an exploration update for the Khartoum Project, located in North Queensland.
Sample results have been received for EVR’s initial campaign of reverse circulation (RC) drilling completed at the Boulder area. Excellent results at shallow depths were returned from several areas. Intersections are summarised in Table 2. The tin mineralisation style targeted in the Boulder area is granite-greisen-hosted bulk-tonnage zones that are generally lower grade than the structurally controlled quartz vein-hosted targets found in areas such as Stannary Hills.
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Figure 1 – RC drilling at Adelaide Prospect
The historic Adelaide workings comprise a linear zone of small pits and minor underground workings reaching 250 metres surface extent. One hole located 40m north of BARC0002 had previously been drilled at Adelaide, intersecting 3m at 0.24% Sn. Drilling was completed at the northern extent of the workings, with the southern 150 metres remaining untested. The result in BARC0002 indicates the tenor of tin mineralisation may improve to the south.
BARC0002: 7m at 0.54% Sn from 33m, including
2m at 1.46% Sn from 36m.
Holes BARC0003, BARC004 and BARC0013 were completed to test a previous drill intersection of 30m at 0.28% Sn. BARC0004, drilled below the previous hole, intersected mineralisation at a similar depth to that previously encountered, indicating a flat-lying zone rather than a west-dipping zone as initially interpreted.
BARC0004: 31m at 0.26% Sn from 90m.
The historic Mary Ann workings comprise a linear zone of small pits over 150 metres extent that have returned rock chip results of 0.78 and 0.91% Sn. One drill hole returning 23m at 0.14% Sn had previously been completed testing outcropping quartz veining with visible cassiterite in greisenised granite, located 200 metres north of the Mary Ann workings. EVR completed three holes designed to test the depth and strike extent of mineralisation encountered in the earlier hole. Drilling has defined a mineralised zone of 100m strike extent to 135m depth that remains open in all directions. The Mary Ann zone of workings are yet to be drill tested, comprising an additional potential 250m strike extent of tin mineralisation.
BARC0018: 18m at 0.22% Sn from 22m, and
2m at 0.27% Sn from 59m.
BARC0019: 62m at 0.18% Sn from 23m, including
8m at 0.32% Sn from 40m and
5m at 0.71% Sn from 79m.
BARC0020: 15m at 0.19% Sn from 34m, and
5m at 0.15% Sn from 60m.
Most of the remaining holes were designed to test zones of linear greisen to investigate the potential lateral extent of tin mineralisation, particularly between and along strike from sampled greisen pipes that had previously returned significant drilling and rock chip sampling results. These holes generally returned narrow (1 metre) low-grade intersections. Based on the results of drilling, it is apparent that better results are returned from zones of greisen alteration that have been intruded by dense tin-mineralised quartz veinlets that have increased the overall grade of the greisen alteration zone. Tin mineralisation in such areas is generally accompanied by elevated arsenic and zinc, and occasionally copper, lead and silver. Examples are the Adelaide Mary Ann Prospects. Further drilling will target such zones of quartz veined greisen alteration.
There remain multiple further targets in the Boulder area based upon the identification of strong surface greisen alteration and the results from rock chip channel sampling. The Company’s exploration crew will undertake further field reconnaissance and sampling to prioritise the most favourable targets for drill testing. Drilling has been planned to test extensions to the mineralisation encountered at Adelaide and Mary Ann Prospects.
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Figure 2 – Boulder drill hole locations.
Tungsten Exploration
EVR has commenced reconnaissance in areas of historic tungsten mines to determine the potential for economic tungsten mineralisation within the Khartoum Project. There appears to be a distinct association between tungsten occurrence and the periphery of the Black Prince Granite (see Figure 3). Historic sampling has returned tungsten results to 3.68% at Gows and 0.48% at Tungsten Knob. To date, EVR has collected 53 samples in areas of known tungsten mineralisation, mainly from the Gows and Geebung/Fingertown area. Of the 38 samples for which results have been received, tungsten values of 2.01% at Fingertown and 1.0% at Gows indicate potential for these areas (see Table 3).
The Gows mine area, comprising numerous adits, shafts and small pits, has historical production of 194 tons tin, tungsten and bismuth. The workings are located within Emuford Granite, intruded by a cluster of discrete porphyritic granite intrusives. Mineralisation in the prospect extends over an area of 500 by 700m in a series of interpreted inverted saucer shaped, shallow dipping stacked greisen-quartz topaz lenses.
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Figure 3 – Historic Tungsten workings.
Greisen layers vary in thickness to around two metres thick, are stepped and dip consistently 5° striking around 010° indicating a potential total thickness of 35 to 50m. Observed mineralisation in the greisen consists of quartz, sericite, iron oxide, beryl, topaz, wolframite, scorodite, cassiterite and bismuth. Historic rock chip sample analysis shows the area is enriched in Ag, As, Au, Bi, Cu, In, Pb, S, Se, Sn, Te, W.
Sixteen samples (KRC000266 – 281) were collected from workings at Gows on both sides of the creek that bisects the prospect. Most of the mines do not extend for considerable extent into the hillsides or at depth. The samples were mainly collected to determine the grade of the flat-lying greisen lenses. Two samples (KRC000266 and 267) returned elevated tungsten values of 1.0% and 0.34%. Other elevated values include copper to 0.50%, lead to 0.503%, and indium to 31.3ppm. The multielement nature of mineralisation at Gows is shown by results of 271ppm Ag, 4980ppm Cu, 3430ppm Pb and 31.3ppm In. There has been no previous drilling at Gows. Further detailed mapping and sampling of the greater Gows area will be undertaken to determine the extent of mineralisation and allow for possible drill planning.
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Figure 4 – Flat-lying stacked greisen zones in granite at Gows.
The Geebung area comprises several historic tungsten workings including Geebung, Bovis, Fingertown, Gauntlet, Shetlands and Treasure. Recorded historic production is 30T of wolframite concentrate at Geebung and 50T wolframite concentrate at Fingertown. There has been no modern exploration in the Geebung area.
The Fingertown mineralisation zones are about 200 metres south of the main Black Prince Granite contact within Hodgkinson Formation sediments. A body of quartz-topaz greisen has been excavated from the side of a gentle hill for an extent of 60 metres and 10 metres width. The quartz-greisen zone can be traced from a creek to the east of the main working to a series of trenches to the west for an extent of over 250 metres. EVR collected 5 samples from in situ vein material from the main working at 10 metre intervals, averaging 0.68% W to a maximum of 2.01% W. A sample of quartz material over at least 10 metre width from a trench 200m west of the main working returned 0.68% W. All samples contained visible wolframite, which occurs in coarse aggregates and crystals of up to centimetre-scale. Further samples have been collected to the west of Fingertown from a series of small workings along the granite-sediment contact; results are awaited.
The Geebung and Bovis areas comprise a series of shallow pits, shafts and adits over an extent of 300 metres. Mineralisation is hosted within Geebung granite and comprises quartz veining to at least one metre width and greisenised granite containing late veining with visible wolframite. Fourteen samples of mine mullock and in situ veining have been collected from the workings; results are awaited.
There are 52 recorded historic workings and known tungsten occurrences associated with the Black Prince Granite. Although historic workings are relatively small, no systematic exploration for tungsten has been conducted within EVR’s tenements and no mining has occurred since the 1950’s. With over 10 kilometres of strike extent within EVR’s Khartoum tenements, and in situ grades from workings of over 2%, tungsten mineralisation associated with the Black Prince Granite makes a compelling exploration target.
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ENDS
For further information, please contact:
Luke Martino
Non-Executive Chairman
Tel: +61 8 6489 0600
Adrian Paul
Executive Director
Tel: +61 8 6489 0600
This ASX announcement was authorised for release by the Board of EV Resources Limited.
Forward Looking Statement
Forward Looking Statements regarding EVR´s plans with respect to its mineral properties and programs are forward-looking statements. There can be nо assurance that EVR’s plans for development of its mineral properties will proceed as currently expected. Therе can also be no assurance that EVR will be able to confirm the presence of additional mineral resources, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of EVR’s mineral properties. The performance of EVR may be influenced by a number of factors which are outside the control of the Company and its Directors, staff, and contractors. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
Competent Person’s Statement
The information in this announcement that relates to the Khartoum Project, is based on information compiled by Mr Erik Norum who is a Member of the Australian Institute of Geoscientists. Mr Norum is contracted to EVR. Mr Norum has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is 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”. Mr Norum consents to the inclusion in this announcement of the matters based on information in the form and context in which it appears.
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