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how long before the penny drops

  1. 480 Posts.
    Figure it out yourself. Don't want to be a "downramper"
    ASX Announcement
    FINAL BURRAGA DRILLING RESULTS PROVIDE CONTINUING HIGHLY
    ENCOURAGING RESULTS
    KEY POINTS
    ♦ Best intersections of: -
    o 5.8 metres at 0.50% Cu, 0.10% Zn, 3.4 g/t Ag & 0.05 g/t Au,
    o 2.0 metres at 0.52% Cu, 4.5 g/t Ag & 0.56 g/t Au,
    o 2.0 metres at 1.13% Zn & 2.5 g/t Ag,
    o 22.0 metres at 0.14% Zn & 1.7 g/t Ag, including 8.0 metres at 0.23% Zn,
    0.12% Pb & 3.4 g/t Ag,
    o 26.0 metres at 0.14% Zn, 0.14% Cu, 2.9 g/t Ag & 0.06 g/t Au, including
    6.0 metres at 0.31% Cu, 0.40% Zn, 5.0 g/t Ag & 0.06 g/t Au, and
    o 2.0 metres at 0.60% Zn, 0.41% Pb & 5.2 g/t Ag
    ♦ A range of base & precious metals mineralisation, copper (Cu), zinc (Zn), lead
    (Pb), gold (Au) and silver (Ag), was encountered in nine of the ten holes sampled.
    ♦ Best individual analyses from these last results of 1.31% Zn, 0.60% Pb, 0.91%
    Cu, 0.56 g/t Au and 28.6 g/t Ag
    ♦ The 5.8 metre intersection equates to 1.53 g/t Au at current metal prices and the
    2.0 metre Cu intersection equates to 2.04 g/t Au
    ♦ These new analysis results extend the base and precious metals mineralisation
    encountered from this drilling programme from a strike length of 850 metres to
    2,400 metres on the western limb of the syncline
    ♦ A Stage 2 drilling programme is now being designed, incorporating these recent
    results in a computerised geological model
    The Board of Republic Gold (“Republic” or the “Company”) today announces that it has received
    the last batch of analysis results from the recently completed drilling programme at the 75%-
    owned Burraga Copper Project that is located in mineral-rich Central New South Wales.
    The results continue to confirm the potential for a large scale body of mineralisation at Burraga
    and extend the mineralised strike length from 850 metres as defined by the early results of this
    drilling programme to over 2,400 metres.
    These analysis results continue to confirm the polymetallic nature of Burraga and show that there
    is a zonation of metals apparent, with the drillholes at the southern end exhibiting more zinc and
    silver.
    Republic Gold’s recently appointed Technical Director, Mr Neb Zurkic said “I visited Burraga for
    the first time this week and saw extensive evidence of chalcopyrite (copper) mineralisation on the
    surface, in the vicinity of the Excelsior Shaft. The potential scale of the project is evident from the
    old workings and the results that the Company has achieved to-date. The positive drilling results
    occurring over a strike length of 2,400 metres is impressive. My next task now is to look at
    finalising a geological computerised model so that the controls on the mineralisation and the
    geometry of the mineralised structures can be better understood. With this done we can finalise
    a Stage 2 drilling programme.”
    Figure 1 below shows the postulated geological model for Burraga. Figure 2 below shows the
    drillhole locations on a plan showing the old workings and the coincident aeromagnetic
    anomalies.
    As noted above, Burraga is a large target. The main historic producing mine, the Lloyd’s Mine, sits
    in the centre of the 4 kilometres of strike and was mined as a shoot over a down plunge length of
    approximately 550 metres. The high grade vein that was mined varied in width from 0.5 to 3
    metres. This was contained within a lower grade zone up to 20 metres wide, defined by drilling in
    the 1980s and earlier. The results of the new drilling have significantly extended the dimensions
    of this lower grade zone, with low grade lead and zinc results particularly, extending right from the
    surface to the top of the old mine workings. The other main producing mine at Burraga was the
    Sprague’s Mine. One successful hole (RCR006), was drilled into this area which is located on the
    eastern limb of the syncline.
    A total of 1,379 metres in 11 holes, comprising 787 metres of RC and 592 metres of diamond
    drilling was completed in the programme. Drilling intersections quoted are all downhole widths,
    which in general are targeted to intersect mineralised zones at angles of greater than 30°, i. e.,
    approaching perpendicular as far as practicable.
    The Stage 2 drilling programme is now being planned following the receipt of these last remaining
    analysis results. This Stage 2 programme will see drillhole RCR-008 redrilled to reach its target
    depth of 300 metres. This hole was abandoned in the Stage 1 programme at 150 metres when it
    had deviated off target too far. The results give the Company significant confidence to pursue this
    deeper target zone. The table below shows the complete details of the Burraga drilling
    programme.
    The Burraga exploration licence is owned in partnership with Republic’s 25% joint venturer, Astor
    Consultants Pty Limited.
 
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