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REDIVIUM LIMITED — Capital/Financing Update 2013
Apr 9, 2013
65703_rns_2013-04-09_89c3728f-29d5-4dff-8b9a-344809401b37.pdf
Capital/Financing Update
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10 April 2013
ASX & MEDIA ANNOUNCEMENT
SPECTACULAR HISTORIC COPPER-GOLD DRILLING RESULTS
Highlights:
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The balance of historic copper-gold intercepts from Central Orebody, Pahtohavare Project have been validated with best results including:
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33.0m @ 4.9% Cu & 5.84g/t Au from 6m Incl. 14.3m @ 10.4% Cu & 13.3g/t Au
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23.6m @ 3.8% Cu from 3.5m
Incl. 2.95m @ 26.9% Cu & 6.2g/t Au
- 24.55m @ 2.19% Cu & 0.54g/t Au from 62.45m
Incl. 4.97m @ 7.4% Cu & 1.2g/t Au
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A drill program is being designed to test multiple targets at the Central Orebody
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Review of 201 historic holes from the Southern and South Eastern Orebodies and the Eastern Zone will commence shortly with results released once validated
Hannans Reward Ltd (ASX:HNR) ( Hannans ) is pleased to announce the balance of historic copper-gold intercepts from profiles 2 and 3 (refer to Figures on page 2) from the Central Orebody at the 100% owned Pahtohavare Project located in northern Sweden.
Hannans initial data interpretation has been focused on the Central Orebody, one of three orebodies within the Pahtohavare Project (refer Figure 2). The significant drill intercepts again highlight broad, shallow zones of copper-gold mineralisation within a strongly weathered and tectonised unit of rocks. Hannans has now validated all eight drill profiles from the Central Orebody and has gained a much better understanding of the geology and controls on mineralisation although further work is still required to fully understand the complexities at Pahtohavare. Drill planning and permitting is now underway for the Central Orebody where drilling will consist of both RC percussion drilling and diamond drilling.
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Pahtohavare Cu-Au Project
10 April 2013
Hannans will now move its focus to the data interpretation and validation from historical works at both the Southern and South-Eastern orebodies as well as the Eastern Zone where some 201 holes were drilled (refer Overview on page 4). Hannans will release the holes as they are validated over the coming weeks.
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Pahtohavare Cu-Au Project
10 April 2013
| Profile | Drillhole | Northing | Easting | Dip | Azi | EOH | From | To | Interval | Cu % | Au g/t |
|---|---|---|---|---|---|---|---|---|---|---|---|
| (RT 90) | (RT90) | Depth | (m) | (m) | |||||||
| 2 | PAH87110 | 7527987 | 1680290 | -60 |
250 | 45.35 | 3.5 | 27.1 | 23.6 | 3.8 | - |
| Inc. | 18.75 | 21.7 | 2.95 | 26.9 | 6.2 | ||||||
| 2 | PAH87118 | 7527987 | 1680290 | -90 |
0 | 69.35 | 4 | 25.4 | 21.4 | 0.97 | 1.1 |
| 2 | PAH87118 | 7527987 | 1680290 | -90 |
0 | 51.5 | 65.8 | 14.3 | 1.2 | - | |
| 2 | PAH87109 | 7527994 | 1680314 | -60 |
250 | 46.15 | 40.15 | 46.15 | 6 | 0.74 | - |
| 3 | PAH87108 | 7528040 | 1680251 | -60 |
250 | 34.25 | 17.75 | 27.3 | 9.55 | 0.36 | - |
| 3 | PAH87107 | 7528050 | 1680275 | -60 |
250 | 52.75 | 6 | 39 | 33 | 4.9 | 5.84 |
| Inc. | 24.7 | 39 | 14.3 | 10.4 | 13.3 | ||||||
| 3 | PAH87120 | 7528057 | 1680301 | -62 |
250 | 109.4 | 62.45 | 87 | 24.55 | 2.19 | 0.54 |
| Inc. | 78.65 | 83.62 | 4.97 | 7.4 | 1.2 | ||||||
| 3 | PAH87122 | 7528057 | 1680301 | -76 |
250 | 130 | 71.35 | 78 | 6.65 | 0.68 | 0.21 |
| 3 | PAH87122 | 7528057 | 1680301 | -76 |
250 | 87 | 96.75 | 9.75 | 0.32 | - | |
| 3 | PAH86114 | 7528075 | 1680342 | -55 |
250 | 97.49 | 7.6 | 13.03 | 5.43 | 2.57 | 0.38 |
| 3 | PAH86114 | 7528075 | 1680342 | -55 |
250 | 74.39 | 83.39 | 9 | 1.32 | 0.2 |
Table 1 – Significant intercepts from drill profiles 2 and 3 of the Central Orebody at Pahtohavare (refer Notes on Page 6 for details of assaying).
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Figure 1 – Aerial photograph of the Central Orebody at Pahtohavare with drill collars (black dots) and drill profiles 1-8 (red lines).
Continued…
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Pahtohavare Cu-Au Project
10 April 2013
Pahtohavare – Overview
The Pahtohavare project is located 8 kilometres south-west of Kiruna, a full-service mining town in Norrbotten County, northern Sweden. Kiruna is located approximately 1,200 kilometres north of Sweden’s capital Stockholm. The project is also very well positioned with regard to major infrastructure; including sealed roads, power and open-access railway (refer to Figure 2 ).
Copper mineralisation was first discovered at Pahtohavare in 1984 by the state-owned exploration company Swedish Geological AB and later mined by Finnish mining company, Outokumpu in 1984.Three deposits were defined at Pahtohavare (refer to Figure 2 ) namely;
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Central (oxide, carbonate and sulphide ore);
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Southern (sulphide ore); and
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South-Eastern (sulphide ore).
Mineralisation has also been identified in an area referred to as the Eastern Zone.
The combined JORC Exploration Target[1] for Pahtohavare (incorporating the Central, Southern, SouthEastern and Eastern Zone) is summarised below:
| Ore | Mt | Cu(%) | Au(g/t) |
|---|---|---|---|
| Fresh | 3.5-4.5 | 2.0-3.0 | 1.5-2.5 |
| Oxide | 1.3-1.7 | 2.0-2.2 | 0.5-1.5 |
| Total(Oxide + Fresh) | 4.8-6.2 | 2.00-2.78 | 1.23-2.23 |
Table 2 – JORC Exploration Target
Historic Drill Program – Central Orebody Overview
A total of 50 drill holes were completed at the Central Orebody by previous explorers during the period 1984-1996; 46 holes were drilled within 8 drill profiles (each profile 50 metres apart) and 4 holes were drilled outside of these profiles. The current mineralised strike length is approximately 300 metres.
The copper-gold mineralisation at the Central oxide orebody is complex and controlled primarily by structure and secondly by lithology and contains oxide, carbonate and sulphide copper minerals; including malachite, azurite, tenorite, cuprite and chalcopyrite, with native gold also closely related to the copper mineralisation.
Oxide mineralisation is dominant down to approximately 100 metres below surface, at which point a ‘transition zone’ starts becoming evident with disseminated sulphides. Little is known about the mineralisation below approximately 110 metres depth at the Central ore body due to the lack of effective previous drilling below this depth but from the current drill profiles it is evident that faulting and/or folding are important and may be responsible for the dis-continuation of ore at depth on a number of drill profiles.
On all drill profiles presented to date the mineralisation has been shown to be closely associated with a chert unit which honours the original logging by Swedish Geological AB. Recent re-logging and interpretation by Hannans’ geologists indicate that the unit referred to as chert in historic logs is more likely a silica-albitecarbonate alteration and not a classic sedimentary chert. However the re-logging has confirmed the presence of thin chert horizons in the basic tuff.
1The JORC Exploration Targets have been subjected to diamond drill testing, ground geophysics and interpretation by the Geological Survey of Sweden, reviewed by Mr Thomas Lindholm, of GeoVista AB. The potential quantity and grade of the exploration targets is conceptual in nature, there has been insufficient interpretation to define a JORC Mineral Resource and it is uncertain if further interpretation will result in the determination of a JORC Mineral Resource.
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Pahtohavare Cu-Au Project
10 April 2013
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Figure 2 – Pahtohavare and other Hannans Project locations in close proximity to the Kiruna Township.
For further information please contact:
Damian Hicks Managing Director Hannans Reward Ltd Tel: +61 8 9324 3388
Ben Della-Vedova Business Development Manager Hannans Reward Ltd Tel: +61 8 9324 3388
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Pahtohavare Cu-Au Project
10 April 2013
Competent Persons Summary
The information in this document that relates to exploration results is based on information compiled by Ms Amanda Scott, Exploration Manager, Hannans Reward Ltd, who is a Member of the Australian Institute of Mining and Metallurgy. Ms Scott is a full-time employee of Hannans Reward Ltd. Ms Scott has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined by the 2004 edition of the “Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Ms Scott consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
Notes
Survey:
Historic drillhole collars from the Central orebody have been located in the field by Hannans and surveyed with an RTK GPS in the Swedish coordinate system RT 90 (2.5 Standard). Not all drillhole collars were located and these positions have been back-calculated through a grid transformation.
Drillhole elevation data has been collected for the holes found in the field via RTK GPS but elevation for the holes not found will be generated through a digital elevation model (DEM) derived from digital spot elevation data supplied by Metria as part of the process to convert the current JORC Exploration Target to a JORC Mineral Resource.
Assays:
The historic drill assays quoted in this press release were undertaken by Swedish Geological AB and assayed at SGAB Analys in Luleå, Sweden via an acid digest and ICP for all elements except for gold which was via a fire assay. The majority of historic drillcore is 76mm and was sampled to geological boundaries and halfcored.
The results have not yet been independently verified by Hannans, however the sampling and assaying are considered to have been undertaken using standard industry practice and QA/QC procedures. Core from more than 150 holes are stored in archive and will be used to validate the historic assaying as part of the process to convert the current JORC Exploration Target to a JORC Mineral Resource.
Current intercepts are weighted averages calculated using a 0.1% Cu and 0.1g/t Au lower cut-off. Generally the assays were consistent through a mineralised interval but where a high value has been diluted by lower values they have been reported as such in Table 1.
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