AI assistant
TASMAN RESOURCES LTD Capital/Financing Update 2006
65896_rns_2006-11-05_1f12b9e4-ba54-4f46-89de-197ae15df076.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
For Immediate Release Monday 6 November, 2006
HIGH-GRADE LEAD ZINC FOR TASMAN IN
FIRST DEEP DRILL HOLE ON S.A. PROJECT
High-grade lead and zinc mineralisation has been intersected in new drilling by Tasman Resources Limited (ASX code: "TAS") on its wholly-owned epithermal gold-silver-lead-zinc Parkinson Dam project 60 kilometres west of Port Augusta in South Australia.
The Company announced today that assay results received for the first of three holes drilled deep into Parkinson Dam had returned 7.6% lead (Pb), $10.5\%$ Zinc (Zn), $0.4\%$ copper (Cu) and 1.20g/t Au (gold) and 120 g/t Ag (silver) over 1.66 metres in hole PD 30. Assay results for the second and third hole are still awaited.
Today's results relate to a relatively narrow, but strongly sulphide-rich zone contained within a broader zone containing epithermal quartz $\pm$ sulphide veining (at least 400m) wide) reported to the ASX on 11 October 2006. Assays for the broader zone are not yet available.
"Although early days yet, as there has never been deep drilling into this target, and recognising that the intersection is narrow, the results for these assays, on recent metal prices, represent a combined in-situ dollar value in excess of A\$800 per tonne or the gold equivalent of around 1 ounce per tonne,' Tasman's Executive Chairman, Mr Greg Solomon, said today.
"The assay results are highly encouraging and follow our report last week that early results from the hole intersected epithermal mineralisation over virtually its entire 416 metre length," Mr Solomon said.
"In addition, we know the other two cored holes also intersected wide zones of epithermal mineralisation and that, most importantly, the mineralisation remains open to the north." he said.
At least three square kilometres of target area, itself a small fraction of the broader Parkinson Dam acreage, are still to be tested. Follow-up drilling will be finalised towards the end of the year and the work be undertaken as soon as a suitable drilling rig can be contracted.
MEDIA CONTACT:
Kevin Skinner, Field Public Relations (08) 8234 9555 / 0424 833 631
issued through FIELD PUBLIC RELATIONS PTY LTD ABN 74 008 222 311 231 South Road, MILE END SA 5031 Ph: 08 8234 9555 Fax: 08 8234 9566 [email protected]