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TALONX RESOURCES LIMITED Capital/Financing Update 2006
65972_rns_2006-05-02_874266ed-0f4d-4af7-85cc-474c7f8163dc.pdf
Capital/Financing Update
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MOUNT BURGESS MINING N.L.
ACN: 009 067 476
Level 4, 109 St Georges Terrace, Perth, Western Australia, 6000 PO Box Z5301, St Georges Terrace, Perth, Western Australia, 6831 Telephone: (61 8) 9322 6311 Email: [email protected] Facsimile: (61 8) 9322 4607 Website: www.mountburgess.com
ASX Release
3 May 2006
Intersection of Sulphides - Kihabe Base Metals Project, Botswana
Mount Burgess Mining N.L. 100%
The 100m spaced Reverse Circulation (RC) drilling programme which is designed to outline the overall geometry and grades of mineralisation to -150metres is continuing. Drill logs have now been received for the remainder of KRC 017 (logs from 6 - 133m announced to ASX 27th April 2006) drilled on Section 6, located 100m north east of Section 1 and for KRC 018 drilled on Section 7, located 200m north east of Section 1 (refer to diagram attached).
KRC 017 at 7821566N/500940E -60deg/339deg was drilled to test for mineralisation below KRC 016 to a vertical depth of 150m and intersected anticipated sulphidic zones as follows:
| 6 - 108 m Hangingwall dolomite | |
|---|---|
| 107 – 108 m Veinform sulphides in dolomite breccia contact | |
| 108 – 113 m Quartzite with up to $20\%$ hematitic boxwork after sulphides | |
| 113 – 133 m Quartzite with $5\%$ disseminated and veiniform pyrite, galena | |
| and sphalerite. | |
| 133 – 197 m Quartzite with trace sulphides, up to $5\%$ sulphides between | |
| 174-177m. | |
| 197 – 202 m Quartzite with $5 - 20\%$ sulphides including galena and | |
| sphalerite. | |
| $202 - 204$ m eoh Quartzite |
KRC 018 at 7821655N/501006E -60deg/339deg was drilled to test for mineralisation to a vertical depth of 100m and intersected anticipated sulphidic zones as follows:
| $6 - 36$ m Hangingwall dolomite |
|---|
| 36 - 56 m Weathered quartzite including zones of boxwork after |
| sulphides |
| $56 - 64$ m Moderately weathered quartzite with 3-20% sulphides |
| including galena and sphalerite. |
| $64 - 87$ m Quartzite with trace sulphides |
| $87 - 124$ m Quartzite with sulphides ranging from 1 - 15% including |
| galena and sphalerite. |
Consistent with previous drilling the sulphides were intersected in a quartzite unit below a very cohesive dolomite hangingwall.
Assay results from KRC 016, KRC 017 and KRC 018 will be announced to the market as soon as they are available.
The Company has previously drilled five wide spaced drill sections along a zinc, lead and silver soil geochemical anomaly, which is 2.4 km in length. Previous drilling has yielded average grades of 3% zinc, $1\%$ lead and 28 g/t silver, with significant credits for copper and vanadium. A scoping study conducted by ProMet Engineers, has estimated some 17,500,000 tonnes to 100m depth. An infill drilling programme is currently being conducted with the intention of upgrading this zone of mineralisation to an open pittable JORC compliant resource/ reserve down to a vertical depth of 150m.
The information in this report that relates to exploration results, together with any related assessments and interpretations, is based on information compiled by Martin Spence, B.Sc., who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Spence is a full time employee of the Company. Mr Spence has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves". Mr Spence consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
For further information please contact: Nigel Forrester or Martin Spence $T:++61893226311$ E: [email protected]
