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CENTAURUS METALS LIMITED Capital/Financing Update 2002
64715_rns_2002-11-21_12118b46-db6b-42ae-943d-b40802d05f88.pdf
Capital/Financing Update
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22 November 2002
Manager Company Announcements Company Announcements Office Australian Stock Exchange Limited Level 10, 20 Bond Street SYDNEY NSW 2000
Dear Sir
ANNOUNCEMENT COOLGARDIE DRILLING - NOVEMBER 2002
The directors of Glengarry Resources Limited (Glengarry) are pleased to announce that a 126 hole 3800m RAB drill program has been completed at Coolgardie in the Eastern Goldfields of Western Australia. This drilling tested various gold geochemical anomalies and structural targets within Glengarry's 9km2 tenement block located approx. 7km northeast of Coolgardie. Most of these targets have not been tested previously.
Several holes intersected significant gold mineralisation including a 3m (composite) intersection assaying 11.5 g/t at the bottom of hole 02GRAB12 and 9m at 1.09 g/t throughout hole 02GRAB60. Both of these holes, which were part of vertical drillhole traverses at 40m hole spacing over two separate gold soil anomalies, bottomed in gold mineralisation. Panning of drill cuttings in Hole 02GRAB60 at the Jackpot West prospect yielded coarse gold associated with altered slightly oxidized ultramafics devoid of any quartz veining or sulphides. Gold mineralisation here may be of similar style to that at the nearby Jackpot deposit (420,000t at 4.3g/t) discovered by New Hampton Gold. Sampling of a small prospector pit in altered ultramafic bedrock beneath thin transported cover about 20m to the north of hole 60 yielded $0.5 \frac{g}{t}$ Au.
Drillhole assay results above 0.5 $g/t$ are tabulated below. Numerous holes also intersected anomalous ppb level gold values including inclined holes 02GRAB126 and 02GRAB93 which returned 92ppb over 65m and 75ppb over 30m respectively and require further investigation.
| Hole No | Easting | Northing | Hole | From | Tο | Interval | Au Assay |
|---|---|---|---|---|---|---|---|
| Depth $(m)$ | (m) | (m) | (m) | (g/t) | |||
| $02$ GRAB $02$ | 329506 | 6579300 | 39 | 24 | 28 | 1.39 | |
| 02GRAB12 | 329880 | 6579457 | 39 | 36 | 39 | 11.43 | |
| 02GRAB53 | 328815 | 6579575 | -8 | 16 | -8 | 0.52 | |
| $02$ GRAB60 | 326914 | 6579012 | 9 | Q | 9 | 1.09 | |
| 02GRAB124 | 329890 | 6578616 | 43 | 1.15 | |||
| 02GRAB125 | 329825 | 6578698 | 49 | 32 | 40 | 8 | 0.55 |
Table 1 $+0.5$ g/t Au Assay Results
PRINCIPAL OFFICE Telephone: (08) 9322 4929 Facsimile: (08) 9322 5510 PO Box 975, West Perth, WA 6872 35 Havelock Street, West Perth, WA 6005 Website: www.glengarryal.com.au Email: [email protected]
GLENGARRY RESOURCES LIMITED ABN 40 009 468 099 QUEENSLAND OFFICE Telephone: (07) 4772 5880 Facsimile: (07) 4772 4999 PO Box 908 Castletown, QLD 4812 68 Railway Avenue, Railway Estate, QLD 4810
The gold mineralisation intersected in holes 2, 12 and 60 is a priority target for planned follow up drilling in late 2002 or early 2003.
Yours faithfully Glengarry Resources Limited
Charris
A T HARRIS Director
This information, so far as it pertains to ore or mineralisation, is based on information compiled by a member of the Australian Institute of Mining and Metallurgy and/or the Australian Institute of Geoscientists, who has had at least five years experience in the field of activity concerned:
Tony Alston - Exploration Director Glengarry Resources Limited ٠
| CONTACTS | ||||||||
|---|---|---|---|---|---|---|---|---|
| TONY ALSTON | MICHAEL GLASSON | ALLAN HARRIS | ||||||
| Technical - Queensland | Technical - Perth | Corporate - Perth | ||||||
| Telephone: (07) 4772 5880 | Telephone: (08) 9322 4929 | Telephone: (08) 9322 4929 |
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| Facsimile: (07) 4772 4999 | $(08)$ 9322 5510 Facsimile: |
Facsimile: $(08)$ 9322 5510 |