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Avalon Minerals Ltd.
Summary
| Project: | Tammela | |
|---|---|---|
| Deposit: | Satulinmaki | |
| Location: | Finland | |
| Commodities: | Gold | |
| Date: | 10/17/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-10-2016: Avalon Minerals Ltd. announces an Exploration/Drilling Update report for its Satulinmaki deposit at the Tammela project. JV with Nortec Minerals - drilling results incl. 83.0m @ 1.24g/t Au from 137m. Avalon Minerals Ltd (ASX: AVI) (‘Avalon’) i | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dr. Bruce Rohrlach (Internal) | |
| ABSTRACT: | Avalon Minerals Ltd (ASX: AVI) (‘Avalon’) is pleased to report assay results from diamond drill holes SMDD002, 005 and 007 from the Satulinmäki Prospect. The results from Avalon’s drilling, together with the historical drilling results of the Finnish Geological Survey, clearly show a large gold system of broad mineralised zones and sub-parallel narrow veins. The system is open in all directions, and has a length of at least 400m, a vertical extent of at least 150m, and ranges up to approximately 50m thick. Malcolm Norris, Avalon’s CEO commented: “This is a very significant gold system. We have identified a large mineralised system that comprises both thick, near surface, lower grade intervals and narrower, at and near surface, high grade intervals. We are very excited by this discovery. It is very early days and Avalon has only drilled 7 holes, and yet we are seeing the potential for a large mineralised body. The rocks are very altered, they contain sulphides that can be mapped using geophysics, and the system is open in all directions. The initial drilling area measures 400m x 250m, while the geophysical anomaly is at least 750m long.” Assay results reported here are from holes SMDD002, 005 and 007. The upper 100m and lower 80m, below 220m, of hole SMDD007 are still to be assayed and reported, and the mineralisation is open at depth below 220m. Individual 1m assay results from hole SMDD007 have returned assays up to 45.6 g/t gold. Results from hole SMDD001 were reported on 22nd September 2016. Following the encouragement from hole SMDD007, where significant intervals of very altered rock containing abundant sulphides were identified, it was decided to re-position the drill rig over hole SMDD003 and extend its length. The assays from hole 003 are pending and are expected within the next few weeks. Assays from holes SMDD004 and 006 are also expected within the next few weeks. | |
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