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Renascor Resources Ltd.
Summary
| Project: | Arno | |
|---|---|---|
| Deposit: | Siviour | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 7/14/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-7-2016: Renascor Resources Ltd. announces an Exploration/Drilling Update report for its Siviour deposit at the Arno project. Drilling results incl. 27m @ 13.3% TGC from 11m. Renascor Resources (ASX: RNU) is pleased to announce the results from recently | |
| Resources: | (Resource, Total): 16.8Mt @ 7.4% TGC at Siviour | |
| CP/QP: | [Overall Report]: G. W. McConachy (Internal) | |
| ABSTRACT: | Renascor Resources (ASX: RNU) is pleased to announce the results from recently completed diamond drilling at its Siviour Graphite Deposit. The Siviour Deposit is located within Renascor’s Arno Graphite Project in South Australia’s Eyre Peninsula. See Figure 2. Renascor recently defined the largest reported graphite Mineral Resource in Australia at the Siviour Graphite Deposit, with a JORC-compliant Mineral Resource estimate of 16.8Mt @ 7.4% total graphitic carbon (TGC) for 1,243,200t of contained graphite, including high-grade mineralisation of 5.9Mt @ 10.0% TGC for 590,000t of contained graphite. Last month, Renascor completed a diamond core drill program consisting of four holes for approximately 225m within portions of the Indicated and Inferred Resources at the Siviour Graphite Deposit. The program included three “twin” holes over existing reverse circulation holes within the Siviour Indicated Resource intended to obtain additional structural and geochemical information. See Figure 3. Assays from reverse circulation drilling over these areas returned long, high-grade intervals of graphite mineralisation at relatively shallow depths. The results from the core drilling confirm the continuity of high-grade graphite, supporting Renascor’s interpretation that the Siviour graphite mineralisation has a shallow, near flat-lying orientation, with substantial true thickness. Renascor considers the style of graphite mineralisation at Siviour to be unique within the Eyre Peninsula, in contrast to other graphite occurrences that are generally more vertical and consist of multiple lenses. The program also included one diamond hole within the Inferred Resource (SIV034) (see Figure 1) that intersected high-grade graphite mineralisation, with assays significantly greater than the grade currently attributable to the Siviour Inferred Resource. Specifically, SIV034 intersected 8m @ 8.2% TGC (from 30m to 38m) and 15m @ 10.2% (from 40m to 55m). | |
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