st barbara results

  1. 6,368 Posts.
    (AESBM) REPEAT: St Barbara results confirm Meekatharra strategy
    RWE News
    8:33:020 19/01/2005
    Sydney - Wednesday - Jan 19: (RWE Australian Business News) -
    St Barbara Mines Ltd says in its December quarter activities report that
    new high-grade mineralisation was intersected, including 15m at 45g/t at
    a depth of 127m and in another drillhole 6m at 36g/t at a depth of 155m,
    beneath the Surprise open pit, 2km north of the company's Bluebird
    treatment plant, by joint venturer Mercator Gold plc.
    "These high-grade intersections and those achieved during the
    December 2004 quarter at 100pc-owned Paddys Flat reinforce the potential
    to increase mineral resources and re-establish reserves in the
    Meekatharra District.
    "This confirms the strategy of drilling deeper below established
    mineral resources," managing director and CEO Mr Eduard Eshuys said.
    Drilling has resumed at Paddys Flat with the focus on
    Vivian-Consols and Mickey Doolan, and by Mercator at Surprise.
    The company will also start drilling at the now wholly-owned
    Reedys in early February to follow up earlier drillhole intersections,
    including 33m at 5.7g/t and 5m at 24.3g/t gold at depths of 100 to 200m.
    Three high-ranking nickel sulphide target areas, namely Wallal,
    Scorpion and Scorpayle, in WA have been applied for as exploration
    licences totalling 2250 sq km.
    Elevated nickel, copper and platinum occur in soils within
    Scorpion.
    The target areas were identified by a high-level nickel sulphide
    study.
    Other high-ranking target areas, also with potential for nickel
    sulphide mineralisation, were identified within the Yilgarn Block and
    adjacent regions, and are being reviewed.
    Shares in St Barbara were steady at 7.1c yesterday.
    ENDS
 
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