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RAGUSA MINERALS LTD — Capital/Financing Update 2021
Jul 22, 2021
65664_rns_2021-07-22_e53fc89f-a0e7-41fa-89ad-575b06219053.pdf
Capital/Financing Update
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ACN 143 194 165 Level 2, 22 Mount Street, Perth, WA 6000 PO Box 7054, Cloisters Square, Perth, WA 6850 Ph: (08) 6188 8181 Fax: (08) 6188 8182 E: [email protected] W: www.ragusaminerals.com.au
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ASX ANNOUNCEMENT
23 July 2021
LONELY MINE GOLD PROJECT DRILLING TO COMMENCE AT TIBERIUS PROSPECT
HIGHLIGHTS
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- Diamond drilling works to commence targeting seven priority drill sites at highgrade Tiberius prospect
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- Recent underground rock/channel sampling returned significant analysis results, including 221g/t, 68g/t, 49.5g/t and 45.8g/t
Ragusa Minerals Limited (ASX: RAS ) (“ Ragusa ” or “ Company ”) is pleased to advise that the first phase diamond drilling works will commence at the Tiberius prospect, part of the Company’s 100% owned Lonely Mine Gold Project (“ Project ”) in Zimbabwe.
The Phase 1 drill program plan is targeting seven priority drill sites, totalling 900 metres of diamond drilling works. The proposed drilling will target the interpreted orebody identified from previous works, comprising geological mapping, geophysical surveying (ground magnetics and induced polarization), surface trenching, and underground rock/channel sampling and mapping.
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Figure 1. Lonely Mine Gold Project – Phase 1 Proposed Drilling Sites
The proposed diamond drill-holes will range in target depths between 120m and 150m.
Ragusa Chairperson, Jerko Zuvela said “ We are excited to commence drilling, and look to prove up the encouraging results achieved to date, especially the recent underground sampling results of up to 221g/t. We will be targeting the high-grade mineralised zone along strike and also down-dip below the historical underground mine workings. ”
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ACN 143 194 165 Level 2, 22 Mount Street, Perth, WA 6000 PO Box 7054, Cloisters Square, Perth, WA 6850 Ph: (08) 6188 8181 Fax: (08) 6188 8182 E: [email protected] W: www.ragusaminerals.com.au
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ASX ANNOUNCEMENT
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Figure 2. Lonely Mine Gold Project – Proposed Drilling Sites
ENDS
This announcement has been authorised by Jerko Zuvela, the Company’s Chairperson
For more information on Ragusa Minerals Limited and to subscribe for regular updates, please visit our website at www.ragusaminerals.com.au or contact us via [email protected].
Reference to Previous ASX Releases:
This document refers to the following previous RAS ASX releases:
14[th] July 2021 - Lonely Mine Gold Project - Underground Sampling Results up to 221g/t
For further information:
Jerko Zuvela Chairperson
T | +61 8 6188 8181
Ragusa confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. Ragusa confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
Forward Looking Statements: Statements regarding plans with respect to the Company’s mineral properties are forward looking statements. There can be no assurance that the Company’s plans for development of its mineral properties will proceed as expected. There can be no assurance that the Company will be able to confirm the presence of mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company’s mineral properties.
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ACN 143 194 165 Level 2, 22 Mount Street, Perth, WA 6000 PO Box 7054, Cloisters Square, Perth, WA 6850 Ph: (08) 6188 8181 Fax: (08) 6188 8182 E: [email protected] W: www.ragusaminerals.com.au
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ASX ANNOUNCEMENT
Competent Person’s Statement – Lonely Mine Gold Project
The information contained in this ASX release relating to Exploration Results has been prepared by Mr Jerko Zuvela. Mr Zuvela is a Member of the Australasian Institute of Mining and Metallurgy 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. Mr Zuvela is the Chairperson of Ragusa Minerals Ltd and consents to the inclusion in this announcement of this information in the form and context in which it appears. The information in this announcement is an accurate representation of the available data from exploration at the Lonely Mine Gold Project.
ABOUT RAGUSA MINERALS LIMITED
Ragusa Minerals Limited (ASX: RAS) is an Australian company with a 100% interest in the Lonely Mine Gold Project in Zimbabwe, and is in the process of acquiring the Monte Cristo Gold Project in Alaska and the Burracoppin Halloysite Project in Western Australia.
The Company has an experienced board and management team with a history of exploration, operational and corporate success.
Ragusa leverages the team’s energy, technical and commercial acumen to execute the Company’s mission - to maximize shareholder value through focussed, data-driven, risk-weighted exploration and development of our assets.
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