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Renascor Resources Ltd.
Summary
| Project: | Arno | |
|---|---|---|
| Deposit: | Siviour | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 8/22/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-8-2016: Renascor Resources Ltd. announces an Exploration/Drilling Update report for its Siviour deposit at the Arno project. Drilling results incl. 24m @ 10.5% TGC from 21m. Renascor Resources (ASX: RNU) is pleased to announce initial assay results fro | |
| 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 initial assay results from its recently completed reverse circulation drill program at its high-grade, coarse-flake Siviour Graphite Deposit, located within Renascor’s Arno Graphite Project in South Australia’s Eyre Peninsula. See Figure 2. To date, Renascor has received assays from 14 holes completed in the 31-hole program, with new assays of up to 26.0% TGC (Siv040), the highest grade results to date at Siviour. The available assay results and geological observations of the remaining drill samples suggest continuity of a near-flat lying body of graphite mineralisation at shallow depths that extends at least 1km to the west of the Siviour Indicated Resource, with potential to extend at least an additional 700m over two parallel zones to the east. The results suggest strong potential to increase both the confidence and scale of the Siviour Indicated Resource, with resource modelling to commence immediately upon receipt of the outstanding assays. Commenting on the results, Renascor Managing Director David Christensen stated: We are delighted with the initial drill assays, which confirm the extensive westward continuity of shallow graphite mineralisation at Siviour at comparable or improving grades to the current Indicated Resource. We anticipate similar results for pending assays to both the west and east. Siviour is already Australia’s largest graphite resource, and the current drilling suggests ample scope for expansion upon incorporation of these new results into the Siviour resource model. | |
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