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Bass Metal's drilling at Fossey East reveals potential for new discoveries

Bass Metals (ASX: BSM) has recommenced in fill drilling at the Fossey East deposit and has intersected high grade mineralisation including 5.6 metres at 14.7% zinc 5.4% lead, 2.1 g/t gold, 109 g/t silver and 0.7% copper.

The results indicate the mineralisation is occurring much deeper in the sequence than previously thought, which is located immediately adjacent to the existing Fossey mine infrastructure and has potential to host additional mineralisation.

Managing director of Bass Metals, Mike Rosenstreich told Proactive Investors, "it is good to be back drilling at Fossey East, it could be our next source of ore as well as the start of a string of discoveries along this trend.  Looking at the bigger picture Fossey east occurs in a geological position not previously considered prospective so that opens up large areas of ground, near the mill which have not been tested.”

In fill drilling to 25 metres spaced centres through the current Fossey East resource will continue before extensional drilling commences to fast track mine development.

In February the company established an initial resource estimate within just five months of the Fossey East discovery.

Today's results were from diamond drill hole FUD0066, drilled from underground and targeted the top of the Fossey East barite and base metal zone, within the outline of the geological resource reported previously.

The entire 22.15 metre interval of barite and base metal mineralisation assayed 4.7% zinc, 1.8% lead, 1.0 g/t gold, 45 g/t silver and 0.2% copper.

Kim Denwer, Bass’ exploration manager, said “Bass’ geologists have observed that the mineralisation is occurring much deeper in the sequence than previously thought prospective, which highlights new untested opportunities for the discovery of additional Fossey or Fossey East scale zones of mineralisation in a “pinch and swell” pattern along the Hellyer-Fossey trend.”

Bass recently resumed drilling from underground of the Fossey East prospect in Tasmania following a break as a result of mining operations limiting access to the planned drilling positions.

Bass is exploring for large scale, high grade polymetallic (copper-lead-zinc-silver-gold) volcanogenic massive sulphide (VMS) deposits in a highly mineralised VMS terrain, the Mt Read Volcanic belt, located in north west Tasmania. The aim of the program is to fast track mine development.

The current drilling program is designed to infill to 25 metres spaced centres through the current Fossey East resource outline to fast track mine planning and potential development and then test for extensions.

A total of 7 drill holes have been completed to date (FUD0066 – FUD0072), but assays remain pending for the last 6 holes.

The company is seeking a better understanding of the geometry before commencing the extensional Fossey East drilling.

Geological observations of those drill holes where assays are still pending appear consistent with the earlier drill results on which the initial resource estimate was based in terms of widths of alteration and base metal mineralisation intersected.

Interestingly, the most recent drill hole completed intersected 3.4 metres with conspicuous chalcopyrite mineralisation, visually estimated +2% Cu, within the base metal zone.

To date about 120,000 tonnes of ore has been mined representing 11% of the Fossey Mine Plan and therefore only still a small sample of the overall resource.

On June 20 Bass Metals announced it is on target to achieve the forecast 44,000 tonnes of ore production for June at the Fossey Underground Mine, with a total of 35,000 tonnes of ore mined since the start of June.