TriAusMin Reports Drill Results From the Overflow Project
30.05.2014 | FSCwire
May 30, 2014 /FSC/ - TriAusMin Limited (ASX: TRO, TSX: TOR; "TriAusMin" or the "Company"), announces assay results from the recently completed drilling program at the Overflow Project (EL 5878 90.8% TRO and EL 7941 100% TRO) in Central New South Wales, Australia. The program consisted of a single diamond hole at the Overflow Mine (EL 5878) and four RC percussion holes at Spooky Hill (EL 7941). The Overflow Project is centred on the locality of Bobadah, 120 kilometres southeast of Cobar and covers 15 kilometres of strike over the regionally significant Coonara-Bluff Fault Zone.
Overflow Mine (EL 5878)
The planned hole at the Overflow Mine was designed to test for two possible shoot geometries and to fill a gap between prior drillholes. OFTD001A intersected the target zone from 120.3 to 140.1 metres downhole. The zone comprises fractured, brecciated and sheared silica - sericite +- clay altered and quartz veined intermediate quartz-eye-feldspar tuff, multiple structural events are evident. Within this broader zone, weak to moderate pyrite - sphalerite mineralisation occurs from 124.0 to 132.6 metres.
This sulfide zone assayed 8.6 metres grading 0.28g/t Au, 8.1g/t Ag, 642ppm Cu, 0.27% Pb and 1.35% Zn (Table 2). Individual samples returned maximum values of 0.89g/t Au, 47.2g/t Ag, 0.22% Cu, 1.62% Pb and 4.81% Zn. The interpreted true width of this zone is approximately 60% of the downhole width and the structure is interpreted to dip almost vertically. The pierce point was approximately 15 metres vertically higher than planned resulting in the hole testing only the shallower of the two proposed grade trends. This result implies that the probable high grade trend is more likely to be the interpreted gently, south-plunging zone within the sub-vertically dipping structure rather than a steeply south-plunging shoot. OFTD001A was cased with 40mm PVC to enable future downhole geophysics to be conducted. Further drilling is required to test for down-plunge extensions of other interpreted shots along the 500 metres.
Table 1: Overflow Mine diamond drillhole specifications
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Hole East_ North_ RL(AHD) Dip Azi Mag TD
ID GDA94 GDA94 degrees degrees m
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OFTD001A 471240 6426095 355 -59 071 180.0
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Table 2: Overflow Mine assay summary
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Hole From To Downhole Au Ag Pb Zn
ID m m Width m g/t g/t % %
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OFTD001A 124.0 132.6 8.6 0.28 8.1 0.27 1.35
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incl. 131.0 132.6 1.6 0.51 20.0 0.71 2.15
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Spooky Hill (EL 7941)
Drilling at Spooky Hill followed-up a historical intersection of 10 metres grading 1.21g/t Au. A total of four reverse circulation percussion (RCP) holes totalling 270 metres (Table 3) were completed at Spooky Hill. Three (SHTRC001 to SHTRC003) of the four holes were spaced approximately 50 metres apart along strike testing the zone at a shallow depth and a single deeper hole (SHTRC004) tested the sulfide zone at depth. The holes intersected weak gold-arsenic mineralisation with the best intercept being 4 metres grading 0.19g/t Au from 34 metres in SHTRC001 (Table 4). The geology implies that the east-dipping, pebbly sandstone/conglomerate unit pinches out at depth and is thickest at the southern end of the ridge where the grades and mineralisation widths are greatest.
Table 3: Spooky Hill RCP drillhole specifications
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Hole ID East North RL TD Dip Azi mag
GDA94 GDA94 AHD m degrees degrees
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SHTRC001 470692 6420268 335 75 -60 260
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SHTRC002 470679 6420315 336 55 -55 260
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SHTRC003 470655 6420349 336 40 -50 260
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SHTRC004 470712 6420277 333.5 100 -62 260
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Hole ID From To Composited Au g/t
m m Downhole
Width m
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SHTRC001 34 38 4 0.19
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SHTRC004 1 2 1 0.22
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About TriAusMin
TriAusMin is engaged in the exploration and development of base and precious metals deposits in the Lachlan Fold Belt of New South Wales, Australia. TriAusMin's projects include the Woodlawn Project, the Lewis Ponds Project located near Orange, 200km west of Sydney, as well as a number of other quality exploration properties in the Lachlan Fold Belt.
For further information, please visit www.triausmin.com or contact:
Australia:
Mr Wayne Taylor, Managing Director and Chief Executive Officer
Tel: +61 02 9299 7800 (Sydney)
inquire@triausmin.com
Canada:
Tel: +1 905 727 8688 (Toronto)
info@triausmin.com
Competent Person's / Qualified Person's Statement
The technical information in this report relating to the exploration results for the Overflow Project is based on information compiled by Mr Erik Conaghan, who is a Member of the Australasian Institute of Geoscientists. Mr Conaghan is a full-time employee of TriAusMin Limited and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results and "qualified person" as this term is defined in Canadian National Instrument 43-101 ("NI 43-101"). Mr Conaghan consents to the inclusion in this report of the information in the form and context in which it appears.
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This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws, which are based on expectations, estimates and projections as of the date of this news release. This forward-looking information includes, or may be based upon, without limitation, estimates, forecasts and statements as to management's expectations with respect to, among other things, the generation of revenues by the Company, the timing and amount of funding required to execute the Company's exploration, development and business plans, capital and exploration expenditures, the effect on the Company of any changes to existing legislation or policy, government regulation of mining operations, the length of time required to obtain permits, certifications and approvals, the success of exploration, development and mining activities, the geology of the Company's properties, environmental risks, the availability of labour, the focus of the Company in the future, demand and market outlook for precious metals and the prices thereof, progress in development of mineral properties, the Company's ability to raise funding privately or on a public market in the future, the Company's future growth, results of operations, performance, and business prospects and opportunities. Wherever possible, words such as "anticipate", "believe", "expect", "intend", "may" and similar expressions have been used to identify such forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors, including, but not limited to, fluctuations in currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient capital on favourable terms or at all, changes in national and local government legislation, taxation, controls, regulations, political or economic developments in Canada, Australia or other countries in which the Company does business or may carry on business in the future, operational or technical difficulties in connection with exploration or development activities, employee relations, the speculative nature of mineral exploration and development, obtaining necessary licenses and permits, diminishing quantities and grades of mineral reserves, contests over title to properties, especially title to undeveloped properties, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other geological data, environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding, limitations of insurance coverage and the possibility of project cost overruns or unanticipated costs and expenses, and should be considered carefully. Many of these uncertainties and contingencies can affect the Company's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Prospective investors should not place undue reliance on any forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
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JORC Code, 2012 Edition - Table 1 Report
Section 1 Sampling Techniques and Data
This information relates to the RCP drilling at Spooky Hill and diamond drilling at the Overflow Mine.
To view Section 1, click onto the following link:
http://www.usetdas.com/maps/triausmin/JORCCodeSection1.pdf
Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)
To view Section 2, click onto the following link:
http://www.usetdas.com/maps/triausmin/JORCCodeSection2.pdf
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