OXR oxiana limited

did i miss this on h/c??

  1. Yak
    13,672 Posts.
    Dont remeber this being discussed s oi ncase here it is.

    Good ann....been running up nicely from the lows of mid-50's after placement

    Upwards and onwards....!!


    ASX Code: OXR ABN 40 005 482 824
    2 July, 2003
    AUSTRALIAN STOCK EXCHANGE AND MEDIA RELEASE
    SEPON PROJECT – 80% OXIANA, 20% RIO TINTO
    GOLD EXPLORATION — CONTINUED SUCCESS
    Drilling at several near mine prospects continues to highlight potential for an increase
    of the Sepon gold resource/reserve inventory ahead of a forthcoming expansion study.
    As part of Oxiana’s strategy to maximise the potential of the Sepon mineral field, a four rig
    drill program is in progress to extend existing deposits, upgrade resource confidence and
    delineate new near mine resources.
    This release covers the most recent drill results from the Luang, Vang Ngang and Phavat
    prospects (see attached plan). To date, about 60 per cent of the near-mine budgeted oxide
    program has been completed. Further drilling to complete the program and begin testing the
    sulphide resources will follow the current wet season. Meanwhile, resource estimation
    work has commenced ahead of a gold project resource update scheduled for late August
    2003.
    Infill and extension drilling will continue during the wet season at all current gold deposits
    and on the western high grade zone of the Khanong copper deposit.
    Luang Prospect
    The Luang prospect comprises a large gold-in-soil anomaly located 500 metres to the
    north-west of the Discovery gold deposit (currently being mined). Oxiana reported
    promising exploration drilling results from this prospect in late 2002 (ASX release 9th
    October 2002). Recent follow up drilling to delineate resources confirmed the continuity of
    high grade gold mineralisation in both the near surface oxide environment and down dip in
    the primary zone. Better results include:
    Hole No. Easting Northing Azi/Inc Depth from
    (m)
    Mineralised
    Interval*(m)
    Au Grade
    (g/t)**
    DIS613 605850 1876975 180/-60 Surface 22 7.4
    DIS614 605875 1876975 180/-60 Surface 9 5.9
    DIS615
    and
    605900 1877000 180/-60 Surface
    47
    9
    4
    3.0
    8.1
    DIS617 605925 1877000 -60/125 15 6 6.0
    DIS622 605915 1876975 -60/180 23 4 3.8
    DIS623 605900 1876950 -60/180 Surface 12 2.2
    DIS625
    Including
    605850 1876950 -60/180 4
    9
    24
    5
    5.9
    21.6
    DIS628 605925 1876950 -60/180 Surface 13 7.8
    * Interpreted to approximate true thickness. ** Fire assay; weighted averages of approximate 1 metre
    sample intervals; 0.5g/t lower cut, no top cut; max 2m internal waste
    Level 9, 31 Queen Street, Melbourne, Vic, 3000 Australia
    Phone: +61 3 8623 2200 Fax: +61 3 8623 2222
    Website: www.oxiana.com.au Email: [email protected] 1
 
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