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Enterprise Metals Keenly Awaits Assay Results From Vulcan

Enterprise Metals (ASX: ENT) is keenly waiting on assays results for six scout RC holes drilled in the vicinity of the Vulcan prospect on 31 January 2013.

Vulcan is part of the Doolgunna Project which covers 1,100km2 and is located approximately 110km northeast of Meekatharra.

The search is for copper/gold rich volcanogenic massive sulfide (VMS) ore deposits within the Narracoota Formation volcanics, approximately 13 km southwest of Sandfire Resources' (ASX:SFX) DeGrussa copper mine.

Enterprise is also searching for sediment hosted copper (MUTF:SEDEX) within the Proterozoic sediments flanking the Archaean Goodin Dome.

Drilling is testing the potential for the discovery of massive sulphides at depth.

The program was designed to test below the gold-base metal regolith anomalies identified by a 2012 aircore drill program.

A total of 1,446 metres were drilled to provide holes for later downhole EM (DHEM) surveying.

Three holes (VRC001, VRC002 and VRC006) intersected wide zones of argillic alteration at around 100 metres downhole after being in relatively fresh basalt and minor gabbro (Narracoota Fm volcanics).

Significantly, disseminated arsenopyrite and chalcopyrite were intersected in VRC003, and disseminated sulphide (mainly pyrite) was intersected in all holes.

The DHEM survey is planned to search for off-hole targets that potentially contain massive or disseminated sulphides.

Enterprise's chairman Dr Jingbin Wang said, "this is the first deep drill test of the 1,500 metres long zone of gold and base metal anomalism that has been defined by soil and aircore drilling.

The Board remains positive about the potential for the discovery of massive sulphides at depth in this zone, and recognises that the irregular and steeply dipping nature of DeGrussa style massive sulphides represents a difficult target.

The DHEM survey will extend the search area around the holes by up to 200m, and potentially provide a focus for further drilling."

An aircore drilling program has also been planned and approved by the Dept of Mines & Resources (DMP) to follow up the gold-base metal targets at Scotty, Sulu, McCoy, Nimoy and Goodin Fault.

There were identified by the 2012 soil and aircore drilling programs.

This aircore program is expected to start in March 2013.

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