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NEOMETALS LTD Regulatory Filings 2003
65430_rns_2003-06-26_ae0e450e-e9ce-4676-9a6f-5e2c0250fab5.pdf
Regulatory Filings
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COMET VALE DRILLING RESULTS
The Company informs the market that it has successfully completed a program of diamond core (DDH) drilling and reverse circulation (RC) percussion drilling for further resource definition at the Comet Vale project.
The program included 3165 metres of RC drilling in 28 RC drill holes and diamond drill precollars and 1540 metres of diamond drill tails in 11 holes, including re-entering and deepening of some old holes. Drilling was completed at the Sand Queen mine, the Sand George prospect and the Sand Prince West prospect.
Sand George prospect
A geological re-interpretation of the structure and position of the gold mineralized lodes at the Sand George prospect has resulted in identification of five lode positions which are now labeled as SG 1 to SG 5.
Infill and deep diamond drilling has confirmed continuity of the narrow vein, high grade gold mineralization in the main Sand George lode, now referred to as the SG 1 Lode, over a strike length of about 225m from 13250N to 13025N. The drilling has added a further 50 metres of strike length to the SG 1 Lode and the lode position remains open to the south and at depth. The deepest intersection of the SG 1 Lode is about 300 metres below surface which is about 50 metres below the equivalent depth of No.6 Level at the Sand Queen mine.
The diamond drilling program has confirmed a second lode, referred to as the SG 2 Breccia Lode, in the footwall of the SG 1 Lode. This lode has a strike length of about 100m from 13175N to 13075N with intersections over a vertical depth of about 200 metres.
Drilling on line 13025N (50 metres south of previous deep diamond drilling) also intersected two new high grade lode positions, referred to as the SG 4 Lode and SG 5 Lode. Intersections of the SG 4 Lode include 1m @ 40.9 g/t Au in RD10 and the SG 5 Lode include 0.6m @ 104.9 g/t Au in RD17. The deeper intersections of these lodes are in excess of 350 metres vertically below surface which is over 100 metres below the equivalent depth of No.6 Level at the Sand Queen mine and over 100 metres below the previous deepest intersection at Sand George.
The positions of the latest DDH intersections of the Sand George lodes are shown on the accompanying longitudinal section. Individual lodes are not identified on the long section.
Significant results (gold assays in excess of 1 g/t Au) from the latest drilling and deepening of previous drill holes at the Sand George prospect are listed below (drill holes with an RD prefix are diamond drill holes and a DRC prefix are RC drill holes):
| Hole ID | Collar | Collar | From | To | Intersection | Grade (2) | Lode |
|---|---|---|---|---|---|---|---|
| Northing (1) | Easting (1) | m | m | m | g/t Au | ||
| DRC160 | 13175 | 7676 | 194 | 195 | 1.0 | 1.83 | SG 1 |
| $RDOO6b^{(3)}$ | 13075 | 7705 | 181.92 | 181.32 | 0.4 | 3.59 | SG 1 |
| RD010 | 13025 | 7662 | 312.0 | 313.0 | 1.0 | 2.34 | SG 1 |
| RD014 | 13025 | 7698 | 221.5 | 222.2 | 0.7 | 8.64 | SG 1 |
| $RDOO6b^{37}$ | 13075 | 7705 | 208.2 | 210.4 | 2.4 | 4.58 | SG 2 |
| $R\overline{D011}^{eq}$ | 13082 | 7705 | 136.5 | 137.8 | 1.3 | 7.10 | SG 2 |
| RD012 | 13125 | 7670 | 286.0 | 287.2 | 1.2 | 7.63 | SG 2 |
| RD014 | 13025 | 7698 | 256.3 | 257.26 | 0.96 | 8.30 | SG 2 |
| RD015 | 13075 | 7674 | 280.25 | 284.1 | 3.85 | 3.49 | SG 2 |
| RD016 | 13175 | 7676 | 202.6 | 204.35 | 1.75 | 17.12 | SG 2 |
| RD017 | 13028 | 7607 | 373.1 | 374 | 0.9 | 1.55 | SG 2 |
| RD013 | 13127 | 7620 | 435.7 | 436.7 | 1.0 | 9.96 | SG 3 |
| RD013 | 438.7 | 439.7 | 1.0 | 4.89 | SG 3 | ||
| RD010 | 13025 | 7662 | 399.4 | 401.4 | 2.0 | 8.75 | SG 4 |
| RD017 | 13028 | 7607 | 387.5 | 389.95 | 2.45 | 28.55 | SG 4 |
| including | 387.5 | 388.1 | 0.6 | 104.89 |
| RD010 | 13025 | 7662 | 418.0 | 421.0 | 3.0 | 14.14 | SG 5 |
|---|---|---|---|---|---|---|---|
| Includina | 419.0 | 419.0 | .0 | 40.86 | |||
| RD014 | 13025 | 7698 | 294.75 | 295.7 | 0.95 | 1.60 | SG 5 |
| RD017 | 13025 | 7607 | 405.85 | 406.55 | 0.7 | .48 | SG 5 |
Collar coordinates are for a local grid. All holes collared with a dip of 70° to the east. All samples analysed by Genalysis laboratories Pty Ltd using a 50g fire assay charge with an AAS finish $\mathbf{2}$
(FA50/AAS) and calculated as a weighted average, where applicable.
-
DDH RD006 was extended during this drilling program and the intersection from 208.2 m is additional to the previously reported 0.4 metres intersection from 181.9 metres.
-
DDH RD011 is an extension on the end of RC drill hole DRC033
Sand Queen Mine
Deep drilling at the southern end of the Sand Queen mine has located a new high grade lode (1m @ 15.4 g/t Au in DDH RD 9) and indications of a second new lode. Both intersections are below the No.6 Level of the old Sand Queen mine.
The Sand Queen 'new lodes' are in the same stratigraphic position as the start of the SG 1 and SG 2 Lodes at the Sand George prospect located about 225m to the south.
Infill RC drilling of the Sand Queen South Extension (SQSE), along strike from the southern edge of the Sand Queen workings, was undertaken too test the potential for shallow, open pittable mineralisation. Drill intersections tended to be narrow and of low grade with best intersections of 3m @ 6.6 g/t Au and 2.5m @ 6.98 g/t Au in DRC143 and 1m @ 9.66 g/t Au in DRC149.
Although the shallow infill drilling at SQSE has downgraded the open pit potential, it has not affected the deeper, high grade mineralisation identified between the No.1 and No.3 Levels of the Sand Queen mine as indicated in previous drilling which included 3 metres @ 46.5 g/t Au (DRC136) and 5 metres @ 92.4 g/t Au (DRC138).
Significant results (gold assays in excess of 1 g/t) from the latest drilling at the Sand Queen mine are summarised below (drill holes with an RD prefix are diamond drill holes and a DRC prefix are RC drill holes):
| Hole | Collar | Collar | From | Tо | Intersection | Grade (2) | Lode | |
|---|---|---|---|---|---|---|---|---|
| No. | Northing (1) | Easting (1) | m | m | m | g/t Au | ||
| RD009 | 13499 | 7585 | 299.0 | 300.0 | 1,0 | 15.45 | New | |
| Lode 1 | ||||||||
| RD009 | 13500 | 7585 | 337.0 | 338.0 | 1.0 | 1.77 | New | |
| Lode 2 | ||||||||
| DRC141 | 13500 | 7767 | 28.0 | 28.5 | 0.5 | 2.58 | SQSE | |
| DRC143 | 13487.5 | 7741 | 59.5 | 62.5 | 3.0 | 6.60 | SQSE | |
| DRC143 | 68.5 | 69 | 0.5 | 1.26 | SQSE | |||
| DRC143 | 71.5 | 73.0 | 1.5 | 1.10 | SQSE | |||
| DRC143 | 74.0 | 76.5 | 2.5 | 6.98 | SQSE | |||
| DRC143 | 79.5 | 80 | 0.5 | 1.36 | SQSE | |||
| DRC146 | 13437.5 | 7781 | 15.0 | 16.0 | 1.0 | 2.07 | SQSE | |
| DRC147 | 13437.5 | 7774 | 30.5 | 31 | 0.5 | 1.30 | SQSE | |
| DRC148 | 13437.5 | 7764 | 44.5 | 45.0 | 0.5 | 3.23 | SQSE | |
| DRC149 | 13437.5 | 7755 | 57.0 | 58.0 | 1.0 | 9.66 | SQSE | |
| Caller concellostas are far a land erid. All halas callared with a dia of COO to the cast |
coordinates are for a local grid. All holes collared with a dip of 60° to the east. $21$ All samples analysed by Genalysis laboratories Pty Ltd using a 50g fire assay charge with an AAS finish (FA50/AAS) and calculated as a weighted average, where applicable.
DDH RD009 is a diamond tail on RC drill hole DRC151. 3.
Sand Prince West Prospect
Further RC drilling at the Sand Prince West prospect has established an extensive flat-lying to gently west-dipping thrust zone with large pods of massive quartz up to 5 metres thick. The gold mineralised quartz lode is situated about 150-200 metres west of Sand George and appears to be a northern extension of a quartz lode worked in a number of shallow pits at the old Sand Prince West mine.
The lode has been intersected over a distance of about 200 metres north from the Sand Prince West workings and is at least 50 metres wide. Mineralization outlined to date is from surface to a depth of about 30 metres with the thrust zone apparently continuing to the north and to the west.
Drill hole intersections to date warrant continuing assessment of the open pit potential of the Sand Prince West lode as previous intersections include 5m @ 5.47 g/t Au in DRC 17, 4m @ 2.66 g/t Au in RD 8, 5m @ 4.15g/t Au in GRC 17 and 2m @ 6.93g/t Au in RD 4.
Significant results (gold assays in excess of 1 g/t) from the current phase of RC drilling at the Sand Prince West lode are summarised below (drill holes with a DRC prefix are RC drill holes):
| Hole ID | Collar | Collar | From | To | Intersection | Grade (2) | Lode |
|---|---|---|---|---|---|---|---|
| Northing (1) | Easting (1) | m | m | m | g/t Au | ||
| DRC153 | 13025 | 7698 | 2.0 | 4.0 | 2.0 | 2.26 | SPW |
| DRC154 | 13025 | 7662 | 7.0 | 10.0 | 3.0 | 1.62 | SPW |
| DRC154 | 21.0 | 22.0 | 1.0 | 1.39 | |||
| DRC156 | 13027 | 7612 | 40.0 | 41.0 | 1.0 | 3.93 | SPW |
| DRC157 | 13075 | 7674 | 14.0 | 16.0 | 2.0 | 2.71 | SPW |
| DRC159 | 13075 | 7595 | 46.0 | 50.0 | 4.0 | 1.27 | SPW |
| DRC160 | 13175 | 7676 | 24.0 | 25.0 | 1.0 | 1.84 | SPW |
| DRC163 | 13150 | 7679 | 23.0 | 27.0 | 4.0 | 2.91 | SPW |
| DRC167 | 13222 | 7674 | 29.0 | 31.0 | 2.0 | 2.07 | SPW |
| DRC168 | 13222 | 7659 | 29.0 | 35.0 | 6.0 | 1.88 | SPW |
Collar coordinates are for a local grid. All holes collared with a dip of 70° to the east. $\mathbf{1}$
$\overline{\mathbf{2}}$ . All samples analysed by Genalysis laboratories Pty Ltd using a 50g fire assay charge with an AAS finish (FA50/AAS) and calculated as a weighted average, where applicable.
Work in progress
Geological re-interpretation of the stratigraphic sequence in the host basaltic rocks and the structural positions of the lodes at Sand Queen, Sand George and Sand Prince West is underway.
Work is currently progressing towards calculation of resources for the Sand George SG 1 and SG 2 Lodes, for the Sand Queen South Extension (between No.1 and No.3 Levels of the Sand Queen mine), and, if warranted, for the Sand Prince West prospect.
Samples from the Sand George lodes have been submitted for specific gravity test work, and submission of samples for metallurgical test work and mineralogy examination is planned.
Upgrading of the Company's database to industry standards is nearing completion.
Christopher John Reed EXECUTIVE DIRECTOR
Technical aspects of this report have been compiled by Dr PLF Collins (BSc(Hons), PhD, MAIG), an employee of Curtin Consultancy Services Ltd. Dr Collins has sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity which is being reported on to qualify as a Competent Person as defined in the Code for Reporting of Mineral Resources and Ore Reserves. Dr Collins consents to the inclusion in the report of the matters in the form and context in which it appears.
Plan Number: Reed217, Date: 26/06/2003 Scale: 1:2 600