TriAusMin (ASX: TRO, TSX: TOR) continues to up the ante at Woodlawn, delivering more high grade copper intersections as well as proving up the early high potential of a new regional prospect.
The company recently completed a drilling program that returned a high grade intercept of 4 metres at 3.07% copper from 804 metres from the J lens from a fourth diamond drill hole.
Importantly, the program, which comprised four drill holes totalling 3,024 metres, confirmed that the I, D, B, J and C mineralised lenses extend below the previous mining areas.
The intercept extends the mineralisation 80 metres to the south of and 40 metres below the previous mine workings on J Lens.
This is further supported by a number of other high grade drill intercepts below the previous mine workings including 19.3 metres at 3.92% copper, 2% zinc and 131 grams per tonne (g/t) silver;7 metres at 5.4% copper, 0.27% lead, 11.3% zinc and 28g/t silver; and 13.8 metres at 4.06% copper, 1.99% lead, 5.01% zinc and 18g/t silver.
The focus of this drilling program was to confirm the potential for defining 6 to 7 million tonnes of high grade mineralisation in an area 200 metres below the previously mined ore lenses.
An earlier downhole electromagnetic survey was completed on the final drill hole of the drilling program, and a number of conductors were defined by the survey.
The most was an off-hole conductor interpreted to be located at a vertical depth of about 300 metres in an undrilled area between the D and H Lenses. This conductor may represent a new mineralised lens and is a priority target for the next phase of drilling.
Wayne Taylor, managing director and chief executive officer, commented on the impressive results: "This concludes the recent drill program, and the significant step-out distance both in strike and depth on the latest J Lens result provides a major upgrade to the potential for this lens.
"The entire program has been very successful in demonstrating high grade extensions to the known mineralisation at Woodlawn.
"In addition to this is the exciting early stage results from a new regional prospect that reinforces the view that this remains a very prospective tenement package."
Rock chip sampling at a new Woodlawn regional prospect delivered high grade results of 2.89g/t gold, 97g/t silver and 9.34% zinc.
A soil sampling program was undertaken at Bombay, in the southern part of EL7469, located about 45 kilometres south of the Woodlawn mine and 15 kilometres northwest of the Dargues Reef gold project currently being developed by Cortona Resources.
The tenement covers a large area of Silurian and Devonian volcanic rocks which are considered to be prospective for volcanic massive sulphide base metal and intrusion related gold system mineralisation.
The area features at least four known mineral occurrences and recent work located numerous previously unrecorded historical mine workings.
The area has not been explored since the 1960s and has not been subjected to modern exploration techniques.
Following the encouraging soil and rock sample results and the interpreted geological setting, infill sampling of the anomalies and further reconnaissance work is being planned.
Proximity to known discoveries
The Woodlawn project is located in proximity to other known polymetallic deposits in the region with expansion potential - like the 130,000 tonnes at 2% copper, 2.6% lead, 4.2% zinc, 95g/t silver and 1.8g/t gold Cowley Hill Mine.
Woodlawn previously processed 13.8 million tonnes at 9.1% zinc, 3.6% lead, 1.6% copper, 74g/t silver and 0.52g/t gold.
This was produced from a number of separate, fault-bounded massive sulphide zones mined to a maximum depth of 630 metres below surface.
TriAusMin is targeting the definition of new resources on the down plunge extensions of the mined lenses.
The company has previously released a Measured and Indicated Resource of 8.6 million tonnes at 10.3% zinc, 4% lead, 1.8% copper, 84g/t silver and 0.5g/t gold, which exists in the vicinity of the former workings.
This is further supported by an Inferred Resource of 1.5 million tonnes at 9.6% zinc, 4.1% lead, 1.7% copper, 87g/t silver and 0.6g/t gold.
Continuing high results define the case for new resources at the Woodlawn Underground Project and bring the company a step closer to another mine at Woodlawn.
TriAusMin has outlined an exploration target of 6-7 million tonnes away from the former Woodlawn operation, which is certainly enough to justify a new operation.
The widths being reported from Woodlawn are thicker than what Jabiru Metals had, with grades equal to, if not better than some of Jabiru's, a company that was taken over with a market cap. of around $300 million for a hefty price of $532 million.
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