ADV reports strong gold mineralisation in Saudi Arabia
Posted: 16 Apr 2007
ADV Group has received further significant high-grade gold assay results from ongoing drilling targeting the near-surface oxide zone of its Jabal Sayid Copper-Gold Project in Saudi Arabia.
Results have now been received for the first three drill holes targeting the near-surface oxide zone at Zone 2, with two of the holes intersecting significant widths of gold mineralisation from near-surface.
Drill holes BDH2010RC and BDH2014RC – the first of nine shallow reverse circulation percussion drill holes (RC) targeting the near-surface Zone 2 at Jabal Sayid – returned intercepts of 41m at 3.0g/t Au including 7m at 6.6g/t Au and 41m at 1.52g/t Au.
The Zone 2 results are considered to be significant, particularly combined with the recent shallow gold intersections at Zone 1 (including 49m at 3.75g/t Au and 15m at 6.6g/t Au as reported in the ASX release dated 30 March, 2007).
Initial drilling has uncovered significant near-surface oxide gold and silver, above both Zone 1 and Zone 2 at Jabal Sayid. This clearly strengthens the current open pit mining concept for Jabal Sayid and underscores the significant development potential of the Project.
The Jabal Sayid Project comprises a large VMS system extending over 1.5km of strike.
Previous drilling did not assess the precious or base metal content of the oxide cap, focusing rather on the substantial sulphide zones at depth.
The current RC drilling program is designed to assess the oxide potential within this near-surface zone.
Drilling to date has focused on Zone 1 and Zone 2, both of which feature large outcropping gossans.
Hole BDH2010RC was drilled from the east side below the gossan at Zone 2 and intersected 41m at 3.0g/t Au from 32 to 73 metres, with a higher grade zone in the upper portion of the intersection of 7m assaying 6.59g/t Au.
Hole BDH2014RC was drilled from the west side of the gossan and intersected 41m at 1.52g/t Au from 35 to 76 metres. The intercepts are located above copper-rich sulphide mineralisation at the southern end of the Zone 2 lode that is currently being evaluated by diamond drilling (drillhole BDH2015).
Silver and base metal assay results are expected shortly, and will be released as soon as they are received.
The holes are shown on the attached section, which also includes ADV drillholes BDH 2001 and BDH2006RC.
BDH 2001 was the first core hole drilled into the oxide zone and achieved a poor core recovery (38.4%) over the zone of the intercept, resulting in a decision to continue the drilling program using RC drilling techniques.
The intercept of 32m at 0.68 g/t Au and 28.7 g/t Ag from this hole nonetheless supported the decision to undertake further drilling.
The BDH2006 RC intercept of 6m at 1.13 g/t Au is interpreted to occur below the zone of oxide gold development in the zone where it is more likely that enhanced copper and silver values occur (assays awaited).
Five other reverse circulation (RC) holes recently tested the Zone 2 gossan area and, in some cases, extended into the top of the sulphide zone. The results from these holes and three other RC holes drilled into the Zone 1 gossan, including base metal and silver results, are currently awaited.
The initial JORC compliant resource estimate for Jabal Sayid is currently being finalised and will not include these latest gold results. They will however be included in an updated resource estimate, to be released later this year.
"Based on previous drilling we were expecting some gold mineralisation close to surface in Zone 2 but these results are more consistent and higher grade than we expected," said Ms Inés Scotland, CEO of Vertex / Bariq.
"We are also eagerly awaiting the silver assay results, as it appears that silver forms a significant part of the oxide mineralisation.
"These Zone 2 results, together with the Zone 1 gold results released last week, significantly strengthens our open cut mining concept for the Jabal Sayid Project and the potential for early cashflow from a starter gold operation from the oxide caps."
Posted by Richard Price, Editor, EnergyME.com
Information supplied by companies or PR agencies who are responsible for content.
Send press releases to richard@energyme.com
|
