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Strategic Minerals Corporation NL
Summary
| Project: | Woolgar | |
|---|---|---|
| Deposit: | Woolgar | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/6/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-12-2016: Strategic Minerals Corporation NL announces an Exploration/Drilling Update report for its Woolgar deposit at the Woolgar project. Drilling results incl. 13m @ 1.6g/t Au from 213m. The Company is pleased to announce the initial results of the re | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Alistair Grahame (Internal) | |
| ABSTRACT: | The Company is pleased to announce the initial results of the remaining twelve drill holes1 of the recently completed drill program on the Woolgar Project in 2016. Five of these holes are located in three prospects in or immediately adjacent to the existing resource at BVS. 2 These were principally intended to test for potential blind mineralisation related to IP geophysical anomalies in close proximity to the existing resource. The remaining seven drill holes were distributed through three prospects in the Lower Camp area to assess the potential for mineralisation in areas of significant shallow historical production, but only limited geological data. Although only minor levels of mineralisation were encountered, the potentially mineralised structures were encountered in all cases, enabling improved targeting for future programs. A resource update will be reported in due course. The 2016 drilling campaign comprised twenty reverse circulation (RC) drill holes totalling 3,542 metres. Eight holes from the central portion of the BVS deposit have been announced previously. The remaining twelve drill holes announced here are from six prospects, all located within the Lower Camp. The prospects targeted were mostly identified during the recent project-wide, multidisciplinary data review based on a combination of factors, such as structural and geological interpretation, surface geochemistry, and previous drill results. These were then correlated to the geophysical anomalies from the recent IP surveys and aeromagnetic data, before final assessments were made. Prioritising between favourable prospects also incorporated the distance from the BVS resource as the probable site of any future infrastructure. Hence Try Again was prioritised over the apparently equally prospective Belle Brandon due to both Try Again’s relative proximity to BVS and Belle Brandon’s less-favourable location on the opposite bank of the Woolgar river. | |
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