AAM 0.00% 2.0¢ australian industrial minerals limited

gold gold

Currently unlisted. Proposed listing date: WITHDRAWN
  1. 2,949 Posts.
    Current Issued Capital: 95,541,861 Ordinary Fully Paid Shares Market Cap at 17 cents $16M Cash at Bank: $5.8M
    AUSTRALIAN STOCK
    EXCHANGE CODE AAM
    3 March 2008
    ASX ANNOUNCEMENT
    A1 MINERALS EXPLORATION UPDATE
    A1 Minerals Limited (A1) commenced drilling in mid February on its North Laverton tenements as another step towards achieving gold production and then extending projected mine life.
    At least 10,000m of air core drilling is currently underway with three main objectives:
    • Infilling existing key resources to advance them to mine development stage.
    • Extending and adding resources along strike or down dip where economically justified.
    • Testing new targets based primarily on geophysics.
    In parallel, A1 is conducting a ground gravity survey over its Delta Project tenements to review a number of gold occurrences in the Laverton to Duketon area and determine the effectiveness of detailed gravity surveys as an effective targeting tool.
    Exploration was commenced at Delta prospect (Cork Tree Well area), approximately 35kms north of Laverton, where two gold open pits were mined in the late 1980s. Drilling has been focused on testing extensions to known high grade mineralisation found by A1 Minerals at Delta 2 (Cork Tree well North) with 15m @ 4.4g/t from 120m in CTC01, associated with an intersecting shear zone, and the direct extensions north of Cork Tree Well Pits.
    A high grade gold zone is suggested within the intersection of an ENE trending shear-hosted mineralisation along an intrusive margin, and the regional NNW trend of mineralisation. This interpretation is supported both from drilling and from reviewing the preliminary gravity data.
    Results to date support gravity surveying as being an effective regional targeting tool. Initial composite assay results have been received and results will be reported following further validation. Drilling and gravity interpretation is ongoing.
    Infill and extension drilling is also planned at the Epsilon and Zeta Prospects.
    For full reports and information go to A1 Minerals website: www.a1minerals.com.au
    John Williams
    Managing Director
    Suite 34, 25 Walters Drive, Osborne Park WA 6017
    Telephone (618) 9244 1400 Facsimile (618) 9244 1600
    Email [email protected]
    The information in this report that relates to mineral exploration is based on information compiled by Mr John Williams who is a member of the Australasian Institute of Mining and Metallurgy. Mr Williams is a full time employee of A1 Minerals Limited.. Mr Williams has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person (JORC Code). Mr Williams consents to the inclusion in the report of the exploration results based on the information in the form and context in which it appears.
    Website www.a1minerals.com.au
    ABN 44 100 727 491
    Suite 34, 25 Walters Drive, Osborne Park WA 6017
    Telephone (618) 9244 1400 Facsimile (618) 9244 1600
    Email [email protected]
    Website www.a1minerals.com.au
    ABN 44 100 727 491
 
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