Sydney -
Global Metals Exploration NL (ASX: GXN) is pleased to announce that the results of a recent Rotary Air Blast ('RAB') drilling program have confirmed the presence of gold mineralisation at its Jutson Rocks project, located approximately 125 km north-east of Laverton in WA. Intersections of up to 3.5 g/t Au over 4 metres have been discovered.
The recently completed RAB drilling program consisted of 86 drill holes for a total of 2,181 metres, with samples analysed representing 4 metre composites. All holes were drilled at - 60 deg with an azimuth of 90 deg. and were all drilled to 'blade refusal' which means that only the oxidised zone was drill tested, rather than the primary fresh material.
Very encouraging gold mineralisation was encountered over 2 lines which were approximately 1.1 km apart.
The RAB program was designed to follow up an auger sampling programme, which in turn was designed to follow up encouraging results from a previous Bulk Leach Extractable Gold ('BLEG') sampling programme.
The BLEG program, which was conducted on a 500 metre x 500 metre pattern, highlighted several areas of gold anomalism. These areas of gold anomalism were then sampled by auger drilling on a 50 x 125 metre pattern and the results of the auger work confirmed several areas of gold anomalism (Figure 1). Two of these areas were then targeted by RAB drilling and the holes which encountered significant results are shown in Figure 2. The table below shows significant results (> 0.1 ppm Au). The anomalous 4m composits will be reassayed at 1m intervals to more accurately determine the grade distribution.
Holes 50 and 51 were drilled into fine grained mafics (probable basalts) while holes 72 to 76 and hole 78 were drilled into moderate to strongly sheared intermediate volcaniclastics. It is of significance that many of the significant intersections are at or near the end of the hole at the weathered bedrock interface which means that the gold mineralisation appears to represent a supergene halo. None of the significant intersections contain quartz and the lack of quartz and the strong shearing suggests a shear hosted environment rather than small, high grade quartz veins.
The Company views these results as very encouraging, with great scope for infill drilling in the near future and recent additional BLEG sampling producing very significant results (see ASX Announcement of 12th April, 2012).
The Company is also pleased to announce that it is currently undertaking augur drilling over these second phase BLEG anomalies.
Base metal results also encouraging
The RAB drilling also encountered anomalous nickel, zinc and copper results. The copper and zinc were encountered in black shales while the anomalous nickel results were encountered in ultramafics. It is unclear at this point whether the results are significant bedrock mineralisation indicators or whether they represent some form of minor supergene enrichment. The table below lists the significant copper, zinc and nickel results.
Managing Director, Ms Lia Darby said today, 'This sub-surface gold discovery is extremely good news for the Company. We are pleased to deliver this success after years of preparation and hard work. We look forward to and are confident of further discoveries, hence we are ramping up our gold exploration activities at Jutson Rocks over the coming months.'
To view the complete Global Metals Exploration announcement including Tables, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-GXN-585824.pdf
About Global Metals Exploration NL:
Global Metals Exploration NL (ASX:GXN) is a Sydney-based exploration and investment company that manages mineral and mining assets in Australia and New Zealand.
The Company's is currently developing the Jutson Rocks Gold and Nickel project and the Mt Cornell Gold and Nickel project in Western Australia. The Company is also developing the Round Hill Gold Mine and the Longwoods Tops Igneous Complex Platinum project in New Zealand.
Contact:
Global Metals Exploration NL
T: +61-2-9225-4000
F: +61-2-9235-3889
www.globalnickel.com.au
