Denis McNeil busy with the drill bit in Texas. Peter McNeil drilling in PMG
Also good 'ol TasEx doing a hit at the rock.
TasEx Resources Ltd Commences Drilling at the Lisle GoldProj
MACMIN LIMITED 2002-06-04 ASX-SIGNAL-G
HOMEX - Brisbane
+++++++++++++++++++++++++ Macmin Ltd announces that its 45% owned subsidiary, TasEx Resources Ltd, has commenced a drilling programme at the Lisle Gold Project. This programme is designed to test three prospects for high-grade shear/vein and also large lower-grade disseminated gold deposits.
Approximately 700m of RC/diamond drilling will be undertaken with drill assay results expected to be released in July 2002.
The company considers the Lisle Project to be the most prospective area of Tasmania for the discovery of gold deposits similar to the high-grade Pogo (>gMt at 17.8 g/t gold) and/or large disseminated Fort Knox (>169 Mt at 0.93 g/t gold) deposits, based on already defined gold mineralisation and specific indicator elements such as bismuth and arsenic. This region has never before been specifically targeted for these types of deposits. The historic Lisle Goldfield was Tasmania's third largest goldfield, with production of >250,000 oz of gold from alluvials, mainly prior to 1900. A hard rock source for this gold has never been located. Exploration by Macmin over the past 8 years has defined extensive zones of arsenic (a gold indicator element) and gold anomalism that could reflect a "hard rock" deposit of gold at a shallow depth below the surface.
TasEx is a Tasmanian focused, public gold exploration company ultimately seeking to list on the ASX, with two gold projects - the Lisle Project in NE Tasmania and the Southern Mt Read Volcanics Project (SMRV). In the longer term TasEx, by exploration and/or acquisition, hopes to become a major contributor to the Tasmanian mining industry.
D M O'Neill DIRECTOR
MMN Price at posting:
0.0¢ Sentiment: None Disclosure: Held