Strategic Minerals Corporation (ASX: SMC) has received the drilling results from an additional 41 holes that show further high grade shallow gold mineralisation at the Big Vein and Big Vein South (Southern) Prospects in Queensland.
The drilling results continue to show the potential of the gold mineralised vein zones in the Lower Camp area to produce high grade gold results, particularly at Big Vein South (Southern), Big Vein # 2, Big Vein South (Central) and Big Vein.
Highlight intercepts at Big Vein and Big Vein South (Southern) included:
- 3 metres at 14.6 grams per tonne (g/t) gold from 30 metres, including 1 metre @ 39.4 g/t gold;
- 6 metres at 19.7g/t gold from 42 metres, including 2 metres at 56.1g/t gold;
- 17 metres at 9.41g/t gold from 22 metres, including 9 metres at 17g/t gold;
- 28 metres at 4.46g/t gold from 46 metres, including 4 metres at 18g/t gold; and
- 22 metres at 5.46g/t gold from 13 metres, including 4 metres at 16.2 g/t gold.
The drilling results at the Big Vein South (Southern) and Big Vein prospects once again sourced the higher grade intersections.
Despite most of the high grade intersections in these results coming from these two prospects, there were also some significant width intersections at Big Vein South (Central) and Big Vein #2.
The prospects make up the Woolgar Gold Project, located 120 kilometres north of Richmond in north Queensland and which covers an extensive 700 square kilometres, with all mining titles and exploration permits 100% owned and managed by the company.
Drilling is now completed for the year, however many other samples are currently in the process of being assayed and full results will be announced when the outstanding assays have been received.
The 2012 drilling program included a total of 133 drill holes totalling 8,770 metres of reverse circulation percussion drilling along the 15 kilometres of the Woolgar Fault structural areas.
The drill program has targeted areas within the historic Woolgar mine workings in the mesothermal gold mineralisation, along and adjacent to the Woolgar fault zone.
The company is aiming to delineate sufficient near surface resource potential within the mesothermal zones, that together with existing resources, can allow the company to proceed to conducting a Scoping Study for mine development.
The current total Woolgar project global resource is 10.8 million tonnes at 1.42g/t for 474,900 ounces of gold.
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