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Riedel Resources Ltd.
Summary
| Project: | Carmenes | |
|---|---|---|
| Deposit: | Carmenes | |
| Location: | Spain | |
| Commodities: | Copper-Cobalt-Nickel-Uranium | |
| Date: | 10/26/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-10-2018: Riedel Resources Ltd. announces an Exploration/Drilling Update report for its Carmenes deposit at the Carmenes project. Drilling results incl. 1.95m @ 7.72% Cu, 0.11% Co, 0.09% Ni, 0.44% U, 0.24% Zn from 136.15m. Riedel Resources Limited (ASX: | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Jeffrey Moore (Internal) | |
| ABSTRACT: | Riedel Resources Limited (ASX: RIE) (“Riedel” or “the Company”) is pleased to provide an update and assay results from the drilling programme recently completed at the Profunda Mine Prospect located within the Cármenes Project in Northern Spain. The programme successfully tested three significant geophysical and geochemical anomalous zones delineated by induced polarisation (IP) geophysics and confirmed the presence of disseminated sulphide and oxide mineralisation analogous to Profunda style mineral deposits. Four holes were drilled for 1,030 metres and a total of 177 half core samples were taken from selected intervals and submitted to ALS, Seville, Spain for multi-element ICP and ore grade analysis. Geologists, from JV partner SIEMCALSA, completed detailed geological, structural and radiometric logging of the core and identified mineralised intercepts of mixed oxide/sulphide copper, cobalt, nickel, zinc and uranium minerals adjacent to the historic La Cuevona workings (see Figures 1 and 2). Further, assay results confirm the presence of a richly mineralised but previously exploited system at La Profunda with high grade Cu-Co mineralisation discovered in wall rock adjacent to historic mine workings. These drilling results support the view that mineralisation elsewhere in the Cármenes Project area could support repetitions of Profunda style targets. Pole-dipole induced polarisation (PDIP) geophysical surveys (including cross-lines) were completed in 2017 and 2018 near the Profunda Mine to validate and better define numerous geophysical anomalies generated in earlier successful orientation PDIP surveys completed in 2016. Importantly, geophysical contracting and consulting company International Geophysical Technology, S.L. (IGT) concluded in January 2018 that "The results of the measurements made using Pole-Dipole array are very similar to those of the 2016 study in its qualitative aspects and also regarding the characteristics of the anomalies detected in lines 2017A, 2017D, 2018E, 2018F and 2018G. These are punctual anomalies defined by moderate - low values of Chargeability, which can reasonably be interpreted as the effect of metal sulphides disseminated in pipe-like structures" | |
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