HML - Sensational drill results, page-3

  1. 29,310 Posts.
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    Here is the announcement:

    Company Announcement


    Preliminary High Grade Results from Current Drilling -Mt Ida

    HAMILL RESOURCES LIMITED 2002-05-10 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    The Company informs the market that further high grade gold
    intersections (including 4m @ 77.94g/t Au) have been obtained from
    the first four holes from Reverse Circulation (RC) drilling recently
    commenced at Mount Ida. All holes have intersected high grade gold
    mineralisation from the Baldock Shoot within the Southern Dave lode
    giving further confidence that the company has discovered a
    significant mineralised system.

    Results from the recent RC drilling programme are summarised below:

    HOLE NORTHING EASTING FROM TO INTERSECTION
    m @ g/t Au

    TIC0120 109,955 10,195 229.0 231.0 2 m @ 34.23
    " including... 229.0 230.0 1 m @ 61.60
    " & 230.0 231.0 1 m @ 6.86
    " 233.0 234.0 1 m @ 1.12
    " 246.0 248.0 2 m @ 3.83
    TIC0121 110,040 10,250 167.0 168.0 1 m @ 9.32
    TIC0122 110,040 10,215 165.0 166.0 1 m @ 2.84
    " 218.0 222.0 4 m @ 77.94
    including... 218.0 219.0 1 m @ 185.50
    " & 219.0 220.0 1 m @ 39.50
    & 220.0 221.0 1 m @ 41.80
    & 221.0 222.0 1 m @ 44.95
    222.0 223.0 1 m @ 1.44
    TIC0123 110,000 10,205 220.0 223.0 3 m @ 40.07
    " including... 220.0 221.0 1 m @ 51.10
    " & 221.0 222.0 1 m @ 41.20
    " 222.0 223.0 1 m @ 27.90
    " 223.0 224.0 1 m @ 3.71

    nb; All samples analysed by Fire Assay with an AAS finish.

    These results confirm the continued presence of high grade
    mineralisation at depth at Baldock. The system now has a confirmed
    strike extent of at least 150 metres and remains open to the south of
    109,900N and at depth.

    Drilling is currently continuing at Dave North (previous results
    including 1m @ 17.36g/t Au) and will be remobilised to the Baldock
    area to test the southern extensions shortly. Furthermore, additional
    drilling is planned at Tim North (previous results including 1m @
    9.28g/t Au) and at a conceptual target similar in style to the Timoni
    mine at the Golf prospect.

    These results have confirmed the Company's view that the Mount Ida
    project has great potential to host significant high grade resources
    similar to those previously mined at the historical Timoni
    underground mine whilst also highlighting the exploration potential
    of the entire Timoni shear. The Company controls 100% of the Timoni
    shear system which has a strike length of at least 18 kilometres
    within the Mount Ida project.

    N McMahon
    MANAGING DIRECTOR


    Good grades, but narrow intersections.
    The mineralisation in the area is in short and shallow subvertical shoots. ( I worked on the old Mt Ida mine 1962-1963).
    The drilling would have been carried out at a 60 deg. angle so the true horizontal width of the intersections would be less than reported.
    To work it using modern methods (wider stopes and drives ) would entail dilution of ore with mullock.
    The geology of the area would not support large-scale mining operations, but would support a small air-leg mining venture.
    Also, there is considerable ground-water, so continual pumping of water would be required to keep the water level below the working depth.
    Queen Margaret Mines had a go at re-opening the mine about 1981, but gave it a miss as not economical for the above reasons.

    Cheers
    GZ
 
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