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Niuminco Group Ltd.
Summary
| Project: | Edie Creek | |
|---|---|---|
| Deposit: | Enterprise Vein | |
| Location: | Papua New Guinea | |
| Commodities: | Gold-Silver | |
| Date: | 10/5/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 5-10-2016: Niuminco Group Ltd. announces an Exploration/Drilling Update report for its Enterprise Vein deposit at the Edie Creek project. Drilling results incl. 5.4m @ 2.97g/t Au, 94g/t Ag from 8m. Niuminco Group Limited (“Niuminco” or “the Company”) has | |
| Resources: | x | |
| CP/QP: | [Overall Report]: John Nethery (Independent) | |
| ABSTRACT: | Niuminco Group Limited (“Niuminco” or “the Company”) has commenced the shallow drilling program at the Enterprise vein system (Chimney Area) and the 3 holes completed to date have produced promising results. The program was designed to enable the establishment of an initial JORC Resource at the Enterprise vein system and to define potential sources of high grade material to feed an upgraded wet gravity concentrating plant at the rate of 50 to 60 tonnes per day. This is an interim report on the completion of the initial three drill holes EDD019, EDD020 and EDD021. Niuminco’s Managing Director, Tracey Lake said: “Our geologists are very pleased with the results and grades so far despite some core loss, with the three holes achieving expected intercepts with the predicted vein system.” The program comprises drilling a total of approximately 350 to 500 metres in ten (10) angled diamond core drill holes spread over five (5) drill platforms utilizing one of Niuminco’s drill rigs and crew. All coring will be triple-tubed in HQ size rods to enhance recovery. All 3 holes were drilled, as expected, in highly oxidised rock with a stockwork of numerous narrow veinlets of mineralised quartz, iron oxide and manganese oxide. Complete core was slabbed in half with one half bagged at generally one metre intervals and submitted for assay by Fire Assay to Intertek Laboratories in Lae. | |
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