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ORE RESOURCES LIMITED — Capital/Financing Update 2021
Oct 24, 2021
65504_rns_2021-10-24_b683201f-c140-417d-9d24-fe56f56d8737.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
25[th] October 2021
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DIAMOND DRILLING TO COMMENCE AT RAGLESS RANGE ZINC TARGET
Highlights
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Earthworks underway for three – five hole diamond drill programme to commence this week at the Ragless Range Zinc Target of the Arden Project in South Australia
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Drilling to test large gravity anomaly at the Ragless Range Prospect where previous drilling intersected shallow high-grade zinc mineralisation in RRDD007:
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12.8m @ 4.96% Zn from 53m including 3.65m @ 15.47% Zn from 62.15m[1]
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The high-impact diamond drill programme at the Nepean Deeps target continues with the second drill-hole NPDD012 initiated today to target the uppermost conductor 1A/1B
Auroch Minerals Limited ( ASX:AOU ) ( Auroch or the Company ) is pleased to announce that it will commence a diamond drill programme at the Ragless Range Zinc Target of the Arden Project, South Australia (Auroch Minerals 90%).
Earthworks for the drill programme are underway after a site clearance survey for the area was successfully completed by the Traditional Owners Nukunu Wapma Thura Aboriginal Corporation in accordance with the Aboriginal Heritage Agreement (AHA) recently executed with the Company.
The drill programme will commence this week and comprises three to five diamond drill-holes to test for Sedimentary Exhalative (SEDEX) zinc mineralisation previously identified in the Company’s 2018 diamond drill programme, with drill-hole RRDD007 intersecting 12.8m @ 4.96% Zn from 53m, including 3.65m @ 15.47% Zn from 62.15m[1] . The high-grade zinc mineralisation identified in this drilling was primarily associated with the zinc mineral smithsonite (ZnCO3), which often occurs as a result of oxidation above/around many major zinc ore deposits.
The drill programme will largely focus on a significant gravity anomaly extending over 2km in the Ragless Range syncline west of the previous drill-holes (Figure 1). The gravity anomaly may be indicative of thickened mineralised horizons of high-density, high-grade zinc mineralisation. Previous mineralisation intersected in the shallow drilling and outcropping gossans may have been restricted to horizons within the narrower fold limbs (Figure 2), hence testing the interpreted anomaly at depth is warranted.
Auroch Managing Director Aidan Platel commented :
“We are very pleased to be in a position to commence diamond drilling at the Ragless Range Zinc Target of our Arden Project in South Australia. Our first-pass drilling of the target area successfully intersected some very high-grade zinc mineralisation, and our follow up geophysical surveys have delineated a strong anomaly that warrants drill-testing.
The high-grade and potential scale of this zinc mineralisation make it a very exciting drill target and we look forward to kicking off the drill programme later this week!
At Nepean we have initiated the second drill-hole into the Nepean Deeps Target which has been designed to test the uppermost EM conductor 1A/1B. This conductor has great potential to represent
1 Refer to ASX Announcement - INFILL SAMPLING EXTENDS MINERALISATION AT RAGLESS RANGE - ARDEN ZN PROJECT - https://www.investi.com.au/api/announcements/aou/408f546e 9fa.pdf
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FOLLOW US
Auroch Minerals Ltd ABN 91 148 966 545 Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853 Email: [email protected] www.aurochminerals.com
ASX ANNOUNCEMENT 25[th] October 2021
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significant nickel sulphide mineralisation below the historic Nepean mine workings, and we look forward to seeing what the drilling will encounter!”
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Figure 1 – Residual Bouguer gravity linear image. Strong gravity anomaly extending over 2km in hinge zone of Ragless Range syncline and planned drill hole locations. A-A’ schematic cross section in Figure 2.
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FOLLOW US
Auroch Minerals Ltd ABN 91 148 966 545 Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853 Email: [email protected] www.aurochminerals.com
ASX ANNOUNCEMENT
25[th] October 2021
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Figure 2 – Schematic cross section of gravity anomaly within Ragless Range syncline and proposed drill target
This announcement has been authorised by the Board of Directors of the Company.
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For further information visit www.aurochminerals.com or contact:
Aidan Platel
Managing Director
E: [email protected]
Competent Persons Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr Matthew McCarthy and represents an accurate representation of the available data. Mr McCarthy (Member of the Australian Institute of Mining and Metallurgy) is the Company’s Senior Geological Officer and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ ("JORC Code 2012"). Mr McCarthy consents to the disclosure of this information in this report in the form and context in which it appears.
Forward-Looking Statements
This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Auroch Minerals Limited’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential", "should," and similar expressions are forward-looking statements. Although Auroch Minerals Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.
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Auroch Minerals Ltd ABN 91 148 966 545 Suite 10, 38 Colin St, West Perth WA 6005 Phone: +61 8 6383 7817 Fax: +61 8 6245 9853 Email: [email protected] www.aurochminerals.com