Haunted Stream Drill Results.

Transcription

1 MANTLE MINING ASX: MNM & MNMOA DIRECTORS Mr Martin Blakeman Non-Executive Chairman Mr Ian Kraemer Managing Director Mr Peter Anderton Non-Executive Director Mr Stephen de Belle Non-Executive Director COMPANY SECRETARY Mr Winton Willesee PRINCIPAL PLACE OF BUSINESS AND REGISTERED OFFICE Level 1, 2 Ross Place South Melbourne VIC 3205 CONTACT DETAILS Website: admin@mantlemining.com ph: + 61 (3) fax: + 61 (3) ASX Release 15 October 2010 Haunted Stream Drill Results. Mantle Mining Corporation Limited (ASX: MNM) the Company, wishes to advise that all results from laboratory analyses of samples from the (Anomaly 4) drilling program at the Haunted Stream Gold Project in Eastern Victoria, have now been received (Best results; Tables 1 & 2). A total of 567 metres (2 drill holes) were completed to test an anomalous magnetic intrusive (Anomaly 4) centrally located to this historically high grade gold field. The best results were encountered in drill hole HSD12: From metres deep, a 1 metre interval reporting 4.7g/t gold, 1027ppm copper, 118ppm lead and 363ppm zinc, From metres deep, a 0.9 metre interval reporting 658ppm lead and 1524ppm zinc, Between 343 and 411 metres deep, various arsenic intersections reported from 526ppm to 2617ppm located within the contact aureole between the intrusive and the surrounding sediments. Additional samples have been sent for petrographic analysis in order to further understanding of the host geology and metallogenic context of the mineralisation intersected at Anomaly 4. A Down Hole Electromagnetic (DHEM) survey is being planned for drill hole HSD12 to test additional potential for conductive sulphides associated with possible gold mineralisation both around the intrusive contact aureole and at depth under the drill hole. Timing for this survey is weather dependant. Mantle wishes to acknowledge the Victorian Government Department of Primary Industries, which awarded the Company a $45,000 Rediscover Victoria Drilling (RVD) Grant in support of the drilling program. G.P.O. Box 2986 Melbourne VIC 3001 For further information: Media enquiries: Ian Kraemer Doug Macdonald Mantle Mining Capital Group Page 1 of 6

2 SAMPLE # From To Interval Table 1: Drill hole HSD12 best results. Au (ppm avg) As Cu Pb Zn S (%) HSD LLD LLD HSD LLD LLD HSD HSD LLD HSD HSD LLD LLD HSD HSD HSD LLD HSD HSD HSD HSD LLD LLD HSD HSD HSD HSD LLD LLD HSD HSD HSD HSD HSD LLD HSD LLD HSD SAMPLE# From To Interval Au (ppm avg) As Cu Pb Zn S (%) HSD LLD 123 LLD HSD LLD HSD LLD 367 LLD HSD LLD HSD LLD HSD LLD 234 LLD HSD LLD 296 LLD HSD LLD 188 LLD HSD LLD 149 LLD HSD LLD 130 LLD HSD HSD LLD HSD LLD Table 2: Drill hole HSD13 best results. Page 2 of 6

3 Figure 1: Cross-section through drill hole HSD12 showing rock lithology and Au, Cu, Pb & Zn metals analyses. Page 3 of 6

4 Figure 2: Haunted Stream Gold project location with ground magnetics grids on aerial magnetics. Figure 3: Haunted Stream gold field with historic mine and rock chip grades, central Anomalies 3 and 4 on aerial magnetics. Page 4 of 6

5 Figure 4: 3D magnetic model of Anomaly 4 (LHS) & section view of planned drill hole HSD12 (HS4Plan3) through Anomaly 4 (RHS). Figure 5: Strongly pyritic vein within zone of intense shearing intercepted at 199m in drill hole HSD12. Competent Person Statement The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Stuart Moore, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Moore is a full-time employee of the company. Mr Moore has sufficient experience which is 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 as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Moore consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Page 5 of 6

6 MANTLE MINING CORPORATION LIMITED s COMPANY PROJECT PORTFOLIO: Bacchus Marsh Coal & CBM (VIC) Haunted Stream Gold (VIC) Trafford Coal & CBM (QLD) Texas Coal (QLD) Granite Castle Gold & Silver (QLD) Charters Towers Gold (QLD) Barkly Phosphate (NT) Julia Creek Uranium (QLD) Clarke River Uranium (QLD) The Bacchus Marsh Coal & CBM Project area contains a historic deposit of brown coal. The Company has executed a non-binding MOU with Exergen Pty Ltd to develop the deposit utilising Exergen s patented coal drying technology to upgrade the coal for export. Exergen s partners include Tata Power, Itochu, Thiess and Sedgman. The Haunted Stream Gold Project area is prospective for gold/copper including many historical, high-grade, gold mines along the Haunted Stream fault corridor. Anomalies 3 and 4 are major targets for possible deep vein gold or porphyry copper-gold mineralisation. The Trafford Coal & CBM Project area contains a historic deposit of black coal. The Company is negotiating with the traditional custodians of Mt Mulligan towards an Indigenous Land Use Agreement (ILUA) and has commenced proceedings in QLD s Supreme Court to enforce an agreement for the assignment of the tenements. The Texas Coal Project area is prospective for both thermal and coking coals of a similar quality to Surat and Bowen Basin coals. The tenements are adjacent to the NSW border and along strike from known coking coal deposits and exciting new thermal coal drilling intercepts located variously to the south and north. At the Granite Castle Gold & Silver Project, the Granite Castle deposit is hosted in a single 600m long shear. Over 6km of additional shears have been located, with drill holes and/or rock chip samples at similar grades to the main shear. The Charters Towers Gold Project area contains the Great Britain deposit as well as a number of historic mines, including Day Dawn West, immediately west of Citigold s (ASX: CTO) proposed City mining area. The Gromac/Puzzler area is prospective for deposits of copper, gold, silver and molybdenum. The Barkly Phosphate Project area sits in the Georgina Basin strategically located between Minemaker s (ASX: MAK) Wonarah deposit and Phosphate Australia s (ASX: POZ) Highland Plains deposit. The Company has completed a broad spaced scout drill program over most of its large tenement holdings. The Julia Creek and Clarke River Project areas are prospective for uranium and base metals. Value accretion from these projects is being sought from joint venture activity thereby allowing the Company to focus its own resources on its highest priority projects whilst maintaining exposure to any upsides delivered through joint venture. Page 6 of 6