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Altona Mining Ltd.
Summary
| Project: | Cloncurry | |
|---|---|---|
| Deposit: | Roseby South | |
| Location: | Australia | |
| Commodities: | Copper-Gold | |
| Date: | 11/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 29-11-2016: Altona Mining Ltd. announces an Exploration/Drilling Update report for its Roseby South deposit at the Cloncurry project. Drilling results incl. 34m @ 0.83% Cu, 0.14g/t Au from 7m. Altona Mining Limited (“Altona” or “the Company”) is pleased t | |
| Resources: | (Reserve, P+P): 86.0Mt @ 0.50% Cu, 0.07g/t Au at Little Eva | |
| CP/QP: | [Overall Report]: Roland Bartsch, George Ross (Internal) | |
| ABSTRACT: | Altona Mining Limited (“Altona” or “the Company”) is pleased to announce the results of a reconnaissance Reverse Circulation (“RC”) drilling programme at the Company’s 100% owned Roseby South Project (“Roseby South”) near Mt Isa in Queensland (Figure 1). Roseby South adjoins the southern boundary of the Company’s Cloncurry Project and MMG's major underground zinc mine development at Dugald River (Figure 1). The Cloncurry Project is the subject of a US$235.5 million proposed joint venture (“JV”) with Sichuan Railway Investment Group (“SRIG”). Please refer to ASX release dated 2 June 2016 for further information regarding the SRIG JV. Roseby South is 100% Altona-owned tenure. It does not form part of the arrangements with SRIG. Three prospects were tested; Harvest, Reaper and Hobby (Figure 2). At each prospect, large copperin-soil anomalies greater than 1,000ppm (0.1% copper) had been defined. The anomalism is of similar size and tenor to the Cloncurry Project's Little Eva and Turkey Creek deposits (Figure 1 and Appendix 2). Outcrop and float rock samples returned up to 14.4% copper and 0.74g/t gold at Harvest; 23.3% copper and 2.9g/t gold at Hobby; and 0.8% copper and 1.54g/t gold at Reaper. The targets were identified this year and were reported in ASX releases dated 1 August 2016 (Harvest and Hobby) and 5 September 2016 (Reaper). At the Harvest Prospect, shallow reconnaissance RC drilling comprised 9 holes of 40 to 94 metres depth spaced at 100 to 200 metre intervals along a total strike length of 800 metres. High tenor copper-gold mineralisation was encountered over a strike length of some 250 metres within broader lower tenor mineralisation. | |
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