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Korab Resources Ltd.
Summary
| Project: | Rum Jungle | |
|---|---|---|
| Deposit: | Batchelor | |
| Location: | Australia | |
| Commodities: | Magnesite-Phosphate-Silver-Zinc-Lead | |
| Date: | 11/23/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-11-2016: Korab Resources Ltd. announces an Exploration/Drilling Update report for its Batchelor deposit at the Rum Jungle project. Drilling results incl. 22m @ 78g/t Ag, 0.21% Zn, 3.16% Pb from 36m. Korab Resources Ltd (“Korab”, or “Company”) (ASX: KOR | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Malcolm Castle (Agricola Mining Consultants Pty Ltd.) | |
| ABSTRACT: | Korab Resources Ltd (“Korab”, or “Company”) (ASX: KOR) is pleased to report outcome of the review of historical drilling results which confirmed presence of high grade zinc, lead and silver mineralisation within Korab’s exploration ground near Batchelor town in the Rum Jungle mineral field. The high grade zinc, lead and silver intercepts occur at White Bomb/Glen Luckie prospects in the similar setting as the Woodcutters zinc, lead and silver mine located 8km to the north and are of similar tenor. Plan showing collar location on historical soil Zn geochemical survey is shown below. Additional diagrams showing hole traces on soil Zn geochemistry draped over topography are shown further in the text of this report. The zinc/lead/silver drilling results are most encouraging, both for the possibilities they present for finding discordant, structurally emplaced orebodies and for large stratiform or stratabound base metal deposits. There is evidence of both styles of mineralisation in the region. The former were discovered at the Woodcutters mine and at Area 44 locality 8km to the north from the find. The later were discovered in the Embayment area at Rum Jungle (Browns, Mt. Fitch and Whites) 15-20km to the north west from White Bomb. The possibility of a large stratiform base metal deposit in the White Bomb/Glen Luckie area is suggested by the great thicknesses of significantly mineralised graphitic and pyritic sediments drilled at this location. White Bomb appears to lie on a mineralised trend extending over 4km, which is part of a 16 km long target horizon (see diagram further in the text of this report) and includes the nearby prospects of White Bomb East, the CRAE lead-zinc prospect, and possibly the Occidental lead-zinc prospect. White Bomb/Glen Luckie are located on an exploration lease E29550 and extend onto four granted mining leases MLN512, MLN5013, MLN514 and MLN515. | |
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