13 june 2012 for personal use only - asx · 2012. 6. 13. · phase 5 drilling program at mumbwa,...

Blackthorn Resources Limited ABN 63 009 193 980 Level 5, Suite 502, 80 William Street, Sydney NSW 2011, Australia

t +61 2 9357 9000 f +61 2 9332 1336 www.blackthornresources.com.au

13 June 2012

MUMBWA PROJECT: GOLD ASSAY RESULTS RECEIVED FOR DRILL HOLES S36-030, S36-031, S36-035, S36-036, S36-037, S36-038, S36-039 and S36-040

KEY POINTS

Gold assay results have been received from drill holes S36-030, S36-031, S36-035, S36-036, S36-037, S36-038, S36-039 and S36-040.

These represent the final assay results received for the Phase 5 drill program.

Encouraging near surface (supergene enrichment zones) gold results have been received for drill holes S36-040, S36-035, S36-036 and S36-038.

Drill holes S36-031, S36-035, S36-036 and S36-038 show narrow zones of relative gold enrichment within broad halos of low-level gold mineralisation.

Best intersections from this batch of assay results include:

S36-040 (Inclined -70º towards the north-west; EOH at 602.55m)

1m at 0.50 g/t Au between 10m and 11m


4m at 1.27 g/t Au between 31m and 35m, including

o 2m at 2.25g/t Au between 31m and 33m


1m at 0.70 g/t Au between 275m and 276m.

S36-039 (Inclined -70º towards the north-west; abandoned at 186.85m)



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S36-038 (Vertical hole; EOH at 653.55m)


S36-036 (Inclined -70 towards the south; EOH at 653.54m)


Blackthorn Resources Limited (ASX: BTR) (“the Company” or “Blackthorn Resources”) is pleased to advise that final gold assay results have been received for drill holes S36-030,

S36-031, S36-035, S36-036, S36-037, S36-038, S36-039 and S36-040 from the

Phase 5 drilling program at Mumbwa, Zambia. The location of these holes is shown in Figure 1. Final copper assay results were reported on 16 May 2012.

The Phase 5 drilling program commenced in August 2011 and has completed drilling of 21 holes for a total of 10,934.51 meters. A summary of the Phase 5 drilling is shown in Table 1.

TABLE 1 - Planned Phase 5 targets and drill hole parameters.

Planned

Easting (m)

Planned

Northing (m)

Planned RL

(m)

1 P5_001 S36‐023 500.00 483.05 479,310 8,373,955 1,440 ‐70 270

2 P5_002 S36‐024 500.00 583.48 479,240 8,373,750 1,430 ‐90 000

3 P5_003 S36‐026* 500.00 614.82 479,260 8,374,160 1,430 ‐90 000

4 P5_005 S36‐027 500.00 509.00 479,140 8,373,750 1,430 ‐90 000

5 P5_007 S36_029 600.00 600.80 479,300 8,373,440 1,500 ‐70 270

6 P5_006 S36_028 500.00 524.46 479,160 8,374,160 1,430 ‐90 000

7 P5_009 S36‐025 500.00 532.32 479,410 8,373,955 1,463 ‐65 270

8 P5_101 S36_032 500.00 500.50 479,280 8,373,900 1,452 ‐90 000

9 S36_033* 500.00 463.36

17 S36_038 *** 600.00 653.55

10 P5_103 S36_034 500.00 500.55 479,310 8,373,955 1,453 ‐90 000

16 P5_104 S36_035 500.00 500.20 479,230 8,373,900 1,435 ‐70 180

18 P5_105 S36_036 600.00 653.54 479,219 8,374,141 1,442 ‐70 180

19 P5_014 S36_037 600.00 653.43 479,947 8,375,383 1,335 ‐60 325

20 S36_039**** 600.00 186.85

21 S36_040***** 600.00 602.55

11 P5_010 S36_030 500.00 506.50 478,940 8,373,750 1,430 ‐80 090

12 KIT_03 S36_031 500.00 500.20 479,035 8,374,622 1,400 ‐60 325

13 MUSH_001 202.35

14 MUSH_003 563.00

15 Target A‐02 MUSH_002 500.00 600.00 474,731 8,378,340 1,294 ‐70 045

10900.00 10934.51

* Drill hole S36_026 was completed to an EOH depth = 516.10m in 2011

In January 2012 this hole was extended to EOH = 614.82m following observation of mineralisation at 516m interval.

** Drill hole S36_033 was abandoned at 463.36m due to drilling rods becoming trapped and equipment lost in the hole.

*** Replacement drill hole S36_038 redrilled target from surface as a new hole to a deeper depth.

**** Drill hole S36_039 was abandoned at 186.85m due to problems in hole with drilling equipment.

***** Replacement drill hole S36_040 redrilled target from surface as a new hole to a deeper depth.

Planned

Inclination ◦

Planned

Azimuth ◦

Actual EOH

Depth (m)

Planned EOH

Depth (m)

‐70 270

1,442 ‐90 000

1,405 ‐70 325

WGS 84 Zone 35S

474,394 8,377,510 1,318

TOTAL

#

P5_013

479,230 8,373,900

479,791 8,375,159

P5_102

Target A‐01

Drillhole IDTarget ID

800.00

Infill

Step

‐out

Scout

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Sampling and assaying of the drill core followed a standard site protocol with samples of half core being submitted to the AH Knight Laboratory in Kitwe, Zambia for preparation and copper analysis. A representative sample split was taken from each batch and sent to ACME Analytical Laboratories in Vancouver, Canada for gold analysis.

A cut-off grade of 0.25 g/t Au was applied when delineating the drilled thickness intervals of gold mineralisation, with weighted average grades reported herein. True-widths are not quoted as further work is required to determine the geometry of the mineralisation. No upper limit has been applied to copper or gold grades in the exploration results.

S36-030 – Gold Assay Results

Drill hole S36-030 was an inclined ‘step-out’ hole drilled at an angle of 80 degrees towards 090 (east) which was designed to test potential extensions to the south and west of previously defined grade shells, and to test the northern edge of a deep density anomaly. The hole was terminated at an end of hole (EOH) depth of 506.5m (Figure 2).

A total of 326 samples (excluding quality control samples - note, sample totals for each hole reported below will also be excluding quality control samples) were collected along the entire length of the hole. Copper results from S36-030 were previously reported on 23 February 2012.

No gold intersections above the cut-off of 0.25 g/t Au are reported from S36-030.


Drill hole S36-031 was an inclined ‘step-out’ hole drilled at an angle of 60 degrees towards 325 (north-west) which was designed to test a predicted high density anomaly as well as potential westerly extensions of the previously refined grade shells. The hole was terminated at an EOH depth of 500.2m (Figure 3).

A series of 338 samples were collected along the entire length of the hole. Using a 0.25 g/t Au cut-off the following drilled thickness intervals were delineated as shown in Table 2. Gold enrichment in the lower part of S36-031 may be related to proximity to the north-east trending Kankamu Fault.

Copper results from S36-031 were previously reported on 23 February 2012.

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TABLE 2 – Summary of gold assay results for inclined drill hole S36-031 (EOH depth = 500.2m)

Drilled Thickness

Interval

Weighted Average

Au Grade

Drilled Depth From

Drilled Depth

To

Weighted Average

Cu Grade

(m) (g/t) (m) (m) (%)

1 0.40 340 341 0.28

1 0.26 410 411 0.01


Drill hole S36-035 was planned as an infill hole at an inclination of 70 degrees towards 180 degrees (south) in order to target continuity of the known higher-grade core of the Kitumba mineral resource area, and gather additional structural information particularly with regard to cross-cutting north-east and north-west trending structures. S36-035 was collared using the same drill pad as vertical holes S36-033 and S36-038, and was terminated at an EOH depth of 500.2m.

A total of 305 samples were collected and submitted to the laboratory for copper and gold analyses. A significant drilled thickness intersection of copper mineralisation of 0.96% Cu over 387.3m from a depth of 51.7m was previously reported on 19 March 2012.

Gold mineralised intervals above the 0.25 g/t Au cut-off are reported in Table 3 and shown graphically, together with the copper results, in Figure 4.

TABLE 3 – Summary of gold assay results for inclined drill hole S36-035 (EOH depth = 500.2)

Drilled Thickness

Interval

Weighted Average

Au Grade

Drilled Depth From

Drilled Depth

To

Weighted Average

Cu Grade

(m) (g/t) (m) (m) (%)

2 0.26 112 114 0.27

2 0.30 118 120 0.67


Drill hole S36-036 was drilled at an inclination of 70 degrees towards 180 degrees (south) in order to target the known higher-grade core of the Kitumba mineral resource area, test for extensions to mineralisation along strike, and gather additional structural information particularly with regard to cross-cutting north-east and north-west trending structures. S36-036 was terminated at an EOH depth of 653.54m.

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A total of 426 samples were collected and submitted to the laboratory for copper and gold analyses. Copper results have been previously reported on 13 April 2012, in which a substantial zone of copper mineralisation was defined below a down-hole depth of 96m.

Gold mineralised intervals above the 0.25 g/t Au cut-off are reported in Table 4 and shown graphically in Figure 4.


Drilled Thickness

Interval

Weighted Average

Au Grade

Drilled Depth From

Drilled Depth

To

Weighted Average

Cu Grade

(m) (g/t) (m) (m) (%)

4 0.35 104 108 0.23

2 0.30 496 498 1.14

2 0.49 522 524 1.73


Drill hole S36-037 is an inclined ‘step-out’ hole drilled at an angle of 60 degrees towards 325 (north-west) which was designed to test a copper-in-soil geochemical anomaly immediately north of the Kankamu Fault, as well as a gravity anomaly. The hole was terminated at an EOH depth of 653.43m.

A series of 339 samples were taken over the entire length of drilled core and analysed for copper, gold and multi-elements. Copper assay were previously reported on 16 May 2012.

No gold intersections above the 0.25g/t Au cut-off are reported. A section illustrating S36-037 is shown in Figure 5.


Drill-hole S36-038 was drilled as a vertical hole from the same drill pad as S36-033 in order to complete S36-033, which was abandoned at 463.36m following drilling problems. S36-038 was drilled to an EOH depth of 653.55m.

A total of 439 samples were collected and submitted for copper and gold analysis.

Gold intersections above the cut-off of 0.25g/t Au are shown in Table 5 and illustrated in Figure 4, together with the defined substantial interval of copper mineralisation reported on 16 April 2012.

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Drilled Thickness

Interval

Weighted Average

Au Grade

Drilled Depth From

Drilled Depth

To

Weighted Average

Cu Grade

(m) (g/t) (m) (m) (%)

2 0.31 114 116 0.64

4 0.40 130 134 0.72

1 0.57 301 302 1.04


Drill hole S36-039 was a ‘step-out’ hole drilled at an angle of 70 degrees towards 325 (north-west) which was designed to test a copper and gold soil geochemical anomaly straddling the Kankamu Fault, as well as a gravity anomaly. The hole was abandoned at a depth of 186.85m due to drilling problems.

A series of 175 samples were taken over the entire length of drilled core and analysed for copper, gold and multi-elements. Copper assay results were reported on 16 May 2012.

Using the 0.25 g/t Au cut-off the following drilled thickness intervals were delineated as shown in Table 6 and illustrated in Figure 6.

TABLE 6 – Summary of gold assay results for vertical drill hole S36-039 (EOH depth = 186.85 meters)

Drilled Thickness Interval

Weighted Average Au

Grade

Drilled Depth From

Drilled Depth To

Weighted Average Cu

Grade

(m) (g/t) (m) (m) (%)

4 0.35 34 38 0.24

1 0.34 52 53 0.20

1 0.27 59 60 0.19

2 0.33 61 63 0.25

1 0.27 68 69 0.14

2 0.56 105 107 0.20

1 0.26 114 115 0.21

1 0.26 137 138 0.30

3 0.27 168 171 0.59

9 0.47 173 182 0.58

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Drill hole S36-040 represents the re-drill of abandoned hole S36-039 and is located 3m from the latter. S36-040 was also drilled at an inclination of 70 degrees towards 325 (north-west) to an EOH depth of 602.55 meters.

A series of 483 samples were taken along the entire length of drill core for copper, gold and multi-element analysis. Copper assay results identified multiple zones of copper mineralisation from surface to a depth of 381m, as reported on 16 May 2012.

Gold results for drilled thickness intersections above the 0.25 g/t Au cut-off are shown in Table 7 and illustrated in Figure 6.

TABLE 7 – Summary of gold assay results for vertical drill hole S36-040 (EOH depth = 602.55 meters)

Drilled Thickness

Interval

Weighted Average

Au Grade

Drilled Depth From

Drilled Depth

To

Weighted Average

Cu Grade

(m) (g/t) (m) (m) (%)

1 0.44 4 5 0.17

1 0.26 7 8 0.26

1 0.50 10 11 0.15

1 0.28 18 19 0.59

2 0.63 22 24 0.37

4 1.27 31 35 0.22 Including

2 2.25 31 33 0.27

1 0.43 39 40 0.25

2 0.38 47 49 0.20

1 0.28 54 55 0.20

2 0.42 57 59 0.28

1 0.27 116 117 0.33

1 0.26 141 142 0.32

1 0.71 152 153 0.20

3 0.36 198 201 0.20

1 0.40 208 209 0.53

1 0.70 275 276 0.09 Comment Elevated gold concentrations were observed in the upper half of S36-040 to a depth of 276m. These are largely associated with zones of brecciation and iron oxide replacement.

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It is considered that these elevated grades are a result of supergene enrichment and proximity to structures, most notably the north-east trending Kankamu Fault.

Zones of relative gold concentration are also observed in drill holes S36-035, S36-036 and S36-038 at a depth of approximately 100m, likely also the result of supergene enrichment.

In most holes, the narrow zones of relative gold enrichment occur within a broad halo of low-level gold mineralisation.

Further understanding of the gold and copper mineralised zones and their geometries will be gained from geological modelling and the updated mineral resource estimate currently in progress.

Notes: Gold and copper assays were performed by the fully ISO17025 accredited AH Knight Laboratory in Kitwe, Zambia, and ACME Analytical Laboratories in Vancouver, Canada. Samples were analysed for total copper by 4-acid digest and atomic absorption spectrometry (AAS) and acid soluble copper (ASCu) by cold acid leach and AAS finish. Samples are analysed for gold using conventional fire assay procedures with AAS finish on 30g aliquots. A Quality Assurance/Quality Control (QA/QC) program includes chain of custody protocol, a systematic submittal of 20% QA/QC samples including field duplicates, field blanks and certified reference samples into the flow of samples submitted to the laboratory as well as umpire analyses conducted through the accredited Genalysis Laboratory Services in Johannesburg, South Africa and Perth, Australia.

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Managing Director, Mr Scott Lowe said

“We are very pleased to see some positive gold results, especially as these results confirm further shallow supergene enrichment. The current ground work and analysis, together with our future exploration plans bring us into a truly exciting phase for the Mumbwa Project.”

ATTRIBUTION

The information in this report which relates to exploration results at the Mumbwa Project in Zambia is based on information compiled by Mr Michael J Robertson, MSc, Pr.Sci.Nat., MSAIMM who is a member of The South African Institute of Mining and Metallurgy, which is a Recognised Overseas Professional Organisation (‘ROPO’). Mr Robertson has 22 years’ experience in mineral exploration and is a full-time employee of The MSA Group. Mr Robertson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Robertson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Should you require further information please contact: Scott Lowe Managing Director Ph: + 61 2 9357 9000

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FIGURE 1 - Phase 5 drill hole location plan for the Kitumba mineral resource area

showing collar locations for S36-030, S36-031, S36-035, S36-036, S36-037, S36-038, S36-039 and S36-040.

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FIGURE 2 - Geological cross section facing north for drill hole S36-030 showing gold and copper assays

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FIGURE 3 - Geological cross section facing north-east for drill hole S36-031 showing gold and copper assays

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FIGURE 4 - Geological cross section facing west for drill holes S36-035, S36-036 and S36-038 showing gold and copper assays (copper assays capped at 5% Cu)

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FIGURE 5 - Geological cross section facing north-east for drill hole S36-037 showing gold and copper assays

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FIGURE 6 - Geological cross section facing north-east for drill holes S36-039 and S36-040 showing gold and copper assays (gold assays capped at 2 g/t Au). Ends

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13 june 2012 for personal use only - asx · 2012. 6. 13. · phase 5 drilling program at mumbwa,...

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