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Marindi Metals Ltd.
Summary
| Project: | Newman | |
|---|---|---|
| Deposit: | Prairie Downs, Wolf, Titan, Prairie Pup, Wolf | |
| Location: | Australia | |
| Commodities: | Silver-Copper-Lead-Zinc | |
| Date: | 7/27/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-7-2016: Marindi Metals Ltd. announces an Exploration/Drilling Update report for its Prairie Downs, Wolf, Titan, Prairie Pup, Wolf deposit at the Newman project. Drilling results incl. 56m @ 1.6% Zn, 5g/t Ag, 0.1% Pb from 94m. Marindi Metals Limited (AS | |
| Resources: | (Resource, I+I): 3Mt @ 5.0% Zn, 1.6% Pb, 15g/t Ag at Prairie deposit | |
| CP/QP: | [Overall Report]: Joseph Treacy (Internal) | |
| ABSTRACT: | Marindi Metals Limited (ASX: MZN) is pleased to advise that it has now received all of the assay results from its recently completed 2,309m RC and diamond drilling program at the 100%-owned Newman Base Metal Project, located 60km south-west of Newman in Western Australia’s Pilbara region (Figure 1). Drilling at the Wolf prospect has intersected further broad (+100m down-hole thickness) zones of zinc mineralisation in the form of baileychlore, a zinc mineral that was intersected over extensive areas in previous drilling at Wolf carried out last year. In parallel with its assessment of the results of the drilling, Marindi has been undertaking metallurgical testwork to establish the potential to economically extract zinc from the baileychlore mineralisation. The Company is pleased to advise that preliminary results from this work have been very encouraging, demonstrating a potential forward pathway to unlock the value of this extensive mineralised zone. In light of these results, Marindi has commenced additional studies to progress its assessment of the Wolf mineralisation. The recently completed drilling program at the Newman Base Metal Project comprised a total of 2,309m of drilling, including 1,846.6m of Reverse Circulation (RC) percussion and 462.5m of diamond drilling. The drilling tested a number of key prospects within the Prairie Downs Fault Zone (PDFZ), a dominant structural feature and is anomalous in base metal geochemistry over its entire 23km strike length. Multi-element geochemistry conducted by Marindi has outlined three major hydrothermal cells along the PDFZ. The Wolf-Prairie Corridor spans a distance of 3.5km and contains the Prairie Base Metal Deposit as well as the large Wolf Prospect, which was the first of the three hydrothermal cells to be drill tested by Marindi as part its exploration last year and in the most recent drilling program. | |
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