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Barra Resources Ltd.
Summary
| Project: | Burbanks | |
|---|---|---|
| Deposit: | Burbanks North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/25/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-8-2016: Barra Resources Ltd. announces an Exploration/Drilling Update report for its Burbanks North deposit at the Burbanks project. JV with FNR Investments - drilling results incl. 15.0m @ 9.87g/t Au from 12m. Barra Resources Limited (‘Barra’ or the ‘ | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Gary Harvey (Internal) | |
| ABSTRACT: | Barra Resources Limited (‘Barra’ or the ‘Company’) (ASX: BAR) is pleased to announce the results of the infill resource drilling program recently completed at the Burbanks North prospect within the Burbanks Project, 9km south of Coolgardie, Western Australia. The Burbanks North deposit lies within Barra’s exclusive Reservation Area within mining lease M15/161 which is held by Kidman Resources Limited (Figure 1). A total of 80 holes for 2,438 metres was completed specifically targeting the shallow oxide zone to a depth of about 40 metres and between 6875N and 7000N northings (Figure 2). The program successfully achieved its desired outcome and the Company is confident Burbanks North will move to a development opportunity in the near term. The drilling program was completed pursuant to the terms of the recently announced ‘Staged Mining Agreement’ with FMR Investments (FMR) (ASX Release dated 1 st August 2016; “Barra enters staged mining agreement at Burbanks North”, available to view at www.barraresources.com.au). Barra and FMR co-funded the drilling program with the purpose of increasing confidence in the resource model by confirming the continuity and grade of mineralisation. The parties will now move to complete a new resource estimation and scoping study to determine whether to proceed to mining. | |
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