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  • Auroch Minerals Delivers Initial Gold Results For Northern Shear 0 comments
    Mar 26, 2013 9:27 PM

    Auroch Minerals (ASX: AOU) has received assays from the first seven scout holes drilled at the Guy Fawkes Project Sector which have validated the company's geological interpretation and strategy.

    Guy Fawkes forms part of the Northern shear of the 3 million ounce Manica Gold Project in Mozambique, and drilling has confirmed the continuity of the mineralised structure eastward.

    The positive results equip Auroch with a better understanding of the mineralised structures to more efficiently refine its exploration strategy and drill target generation.

    Auroch's strategy is to define a sizeable oxide resource on top of the existing considerable sulphide resource.

    Five of the seven holes intersected gold mineralisation with a best intersection returned of 0.4 metres at 10.83 grams per tonne (g/t).

    Dean Cunningham, managing director, commented: "Scout drilling has confirmed a classical greenstone structure with mineralisation hosted within quartz veins. Initial assay results are very encouraging."

    Drilling has confirmed the presence of a significant shear zone within this project sector.

    The Shear Zone contains a variety of lithologies including quartz veins, bleached talc chlorite schist, banded iron formation (NYSE:BIF) and aplite, often strongly brecciated, and is gold mineralised in part.

    A total of seven holes were drilled over a strike of about 1,400 metres, five of which intersected the Shear Zone at depths of between 38 and 194 metres, over varying widths, confirming continuity in depth.

    The results from the December quarter 2012 scout drilling program demonstrate that the occurrence of mineralisation is broadly similar to the historical drilling campaigns at Guy Fawkes.

    2013 exploration

    A further seven holes have been completed on the eastern and central area shear zone of the Guy Fawkes Project Sector.

    These samples are being prepared for export to laboratories in South Africa for assaying.

    Six holes on the western extremity of the Shear Zone, close to the historical Guy Fawkes mine, have also been drilled and are being readied for submission to the laboratory.

    Exploration plan

    With the confirmation of the Shear Zone within the Guy Fawkes Project Sector, Auroch will now focus on trenching and drilling along the Shear Zone.

    The company is continuing to integrate the new data sets available, including the results of the current drilling, airborne survey and surface mapping, to define the most prospective zones of the sector.

    The exploration program is being modified in light of the drilling results to focus on identifying the aspects of the lithologies and structures that are most strongly associated with gold mineralisation.

    This will assist in determining and prioritising follow up exploration actions.

    Cunningham said: "In addition to the initial scouting results, the imminent completion of the airborne survey review, surface mapping, combined with the results from the current drilling programs, will result in more clearly defined target generation at both the Guy Fawkes Project Sector and the remainder of the Northern Shear.

    "Auroch continues to move forward to deliver on its first milestone of an additional 400,000 non-refractory ounces of inferred resources."

    Auroch remains well funded to continue its exploration plans with around A$5.3 million in cash at the end of December 2012.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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