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Niuminco Group Ltd.
Summary
| Project: | Edie Creek | |
|---|---|---|
| Deposit: | Enterprise Vein | |
| Location: | Papua New Guinea | |
| Commodities: | Gold-Silver | |
| Date: | 12/7/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 7-12-2016: 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]: Ian Pilmer (Internal) | |
| ABSTRACT: | Niuminco Group Limited (“Niuminco” or “the Company”) has now completed six (6) cored drill holes in its drilling program at the Enterprise vein system (Chimney Area) at the Edie Creek mine. The program was designed to drill 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 was triple-tubed in HQ size rods and drilling muds and polymers were used to enhance core recovery. This very shallow drilling program was also designed to define a JORC resource in the near surface highly oxidised outcropping quartz vein system and importantly, to define potential sources of high grade material to feed an upgraded wet gravity concentrating plant at the rate of 40 to 60 tonnes per day. To date every hole has intersected gold bearing vein material but also backfilled mine openings which occur adjacent to each of these intersections. Drill hole EDD022 penetrated a backfilled mine opening from 39m to 40m adjacent to and between two of the high grade vein intersections listed below. Despite using HQ drill rods and appropriate drilling techniques, the fractured ground and continuous, cavernous veins resulted in the Enterprise drilling yielding less than 50% core recovery of the oxidised veins and an inferred large gold loss. However, the Company believes that the results from the drilling program indicate that the veins at the Enterprise system grade at 9-10g/t Au, and are continuous and cavernous over a 500m strike. | |
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