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Adelaide Resources Ltd.
Summary
| Project: | Eyre Peninsula | |
|---|---|---|
| Deposit: | Baggy Green | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/3/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-11-2016: Adelaide Resources Ltd. announces an Exploration/Drilling Update report for its Baggy Green deposit at the Eyre Peninsula project. Drilling results incl. 11m @ 9.32g/t Au from 85m. Introduction Baggy Green is one of a cluster of gold prospects | |
| Resources: | (Resource, I+I): 2.11Mt @ 1.6g/t Au for 107000oz Au contained at Barns | |
| CP/QP: | [Overall Report]: Chris Drown (Drown Geological Services Pty Ltd.) | |
| ABSTRACT: | Introduction Baggy Green is one of a cluster of gold prospects that together define the wholly owned Barns Gold Camp on the Company’s Eyre Peninsula gold project, a group of eight tenements which cover 2,807 km2 in the Gawler Craton (Figure 1). In July 2016 the Company announced a maiden Mineral Resource for the Barns deposit in accordance with the JORC Code 2012 (1), with the Mineral Resource estimated to be 2.11 million tonnes at 1.6g/t gold for 107,000 ounces using a 0.5g/t gold cut-off. A programme of Reverse Circulation Drilling commenced at Baggy Green on 14 October 2016 with the goal of defining mineralisation that can add to the local resource base. First Baggy Green assay results: Assaying of drill samples from the first ten holes has been completed, confirming that significant zones of gold mineralisation have been intersected. Table 1 (page 4) includes a listing of the gold intersections along with drill hole collar location and set-up information. Geologically, thin cover sediments blanket deeply weathered zones of clay-rich saprolite, below which lies unweathered gneiss (Figure 3). Panning of mineralised drill samples from the holes revealed grains of native gold. In the unweathered primary zone gold mineralisation is associated with pyrite (FeS2) and minor chalcopyrite (CuFeS2). FPXRF scanning indicates copper in the gold mineralised zones is generally at concentrations of around 100ppm to 300ppm, with rare samples occasionally exceeding 0.1%. Hydrothermal alteration, dominated by assemblages of fine grained biotite and sericite, appears widespread. | |
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