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Terramin Australia Ltd.
Summary
| Project: | Bird-in-Hand | |
|---|---|---|
| Deposit: | Bird-in-Hand | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/15/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-7-2016: Terramin Australia Ltd. announces an Exploration/Drilling Update report for its Bird-in-Hand deposit at the Bird-in-Hand project. Drilling results incl. 7.4m @ 41.64g/t Au, 39.8g/t Ag from 203.7m. Terramin Australia Limited (Terramin) (ASX:TZN) | |
| Resources: | (Resource, Inf.): 557000t @ 13.0g/t Au for 233000oz Au contained | |
| CP/QP: | [Overall Report]: Eric Whittaker (Internal) | |
| ABSTRACT: | Terramin Australia Limited (Terramin) (ASX:TZN) is pleased to announce that it has received final assay results from the final holes of the drilling programme for the Bird-in-Hand Gold Project (Project) which commenced in March 2016. Drillhole BH057 returned 7.4 metres at 41.64 g/t gold from 203.7 metres down hole from the Red Reef (Figure 1) including 1.93 metres at 97.01 g/t gold from 203.7 metres. Drillhole BH058 returned 1.2 metres at 48.06 g/t gold from 180.7 metres down hole from the White Reef and 7.4 metres at 41.64 g/t gold from 207.2 metres from the Red Reef. In addition, Terramin has re-assayed high grade samples from drillholes BH054 and BH056 utilising the more accurate screen fire assay method1 . This is the first time that screen fire assay methods have been utilised to assay core at the Project. These new assay results are very significant as they indicate that pre-Terramin assaying, in respect of the Bird-in Hand gold deposit, may have understated gold grades. These results affirm the exceptionally high grade gold mineralisation of the Bird-in-Hand deposit. It is also notable that most drill holes returned gold intersections significantly higher than originally expected. The Company will be able to upgrade the mineral resource classification for the upper part of the deposit from Inferred to Indicated without additional drilling. The Company expects to release a revised resource statement later this month. | |
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