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ZEOTECH LIMITED — Capital/Financing Update 2012
Dec 5, 2012
66115_rns_2012-12-05_cd8baff5-48b9-4994-96bd-97d3a7d3bb88.pdf
Capital/Financing Update
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ASX Release 6 December 2012
RUBIANNA ACQUIRES KOOKYNIE COPPER- GOLD PROJECT
Highlights
Historic WMC Copper prospect with known high-grade mineralisation No base metal exploration for 30 years
Rubianna Resources Limited (ASX: RRE ) is pleased to announce the acquisition of 100% of the Kookynie Project from Laconia Resources Ltd (ASX: LCR ). The project comprises three tenements, E40/260, P40/1255 and P40/1256, surrounding the small township of Kookynie located approximately 50km to the south-southeast of Leonora and 60km northeast of Menzies, Western Australia (Figure 1).
The tenements have been purchased from LCR for the consideration of 1,300,000 RRE shares at 7.5 cents per share.
The project includes the Kookynie East volcanogenic massive sulphide (VMS) project that was previously explored by Western Mining Corporation (WMC) during the period 1969 – 1972[1] , and from which drilling returned several significant copper intersections (Table 1) with best results EKD1, 0.7m @ 4.6% Cu, from 75m and EKD2, 0.4m @ 1.5% Cu, from 202m.
The WMC drilling tested a portion of one of the prospective horizons typically to a depth of 50 metres, intersecting, in addition to the above intervals, anomalous (≥0.1%) copper results over a strike extent of 600 metres. The copper anomalism remains open along strike to the southwest and at depth. This represents an immediate walk up target for Rubianna which can be quickly evaluated with drilling and down-hole geophysics.
There are six prospective horizons in the southern portion of E40/260, including the horizon drilled by WMC, all of which have returned anomalous base metal results from gossan sampling (Figure 2). Significantly, these horizons occur along cherty sedimentary units within a volcanic sequence of basalts and felsic volcanic rocks. No significant base-metal exploration has been recorded in the area in the past 30 years. Elsewhere the Kookynie project has been explored for gold mineralisation and several quartz vein systems identified.
Rubianna’s Managing Director, Dr Steve Batty, said “We are excited to have the opportunity to explore this former WMC tenement with known copper mineralisation that has not had any significant exploration undertaken for around 30 years. There are numerous kilometres of prospective horizons, outcropping and under transported cover, which have returned copper anomalism from limited diamond and percussion drilling completed by WMC and rock chip sampling. We believe the purchase of this project fits our Corporate Strategy, with the tenement complementing our existing copper-gold portfolio, in particular our projects at Killara and North Ruby Well in the Murchison”.
Rubianna plans to complete high-resolution airborne geophysics over the area of drilling and prospective horizons within the Kookynie project, with ground verification and heritage clearances organised to enable the first phase of exploration targeting to be completed in early 2013.
ENDS
1 Refer to WAMEX reports A5389 & A2907
Rubianna Resources Limited ACN 139 546 428 Unit 5/8 Clive Street West Perth WA 6005 T +61 8 9322 2061 F +61 8 9322 2071 E [email protected] W www.rubianna.com.au
Rubianna Resources ASX Release 6 December 2012
For further information please contact:
Dr Steve Batty Managing Director Rubianna Resources Limited P: +61 8 9322 2061 E: [email protected] www.rubianna.com.au
Media Contact Colin Hay Professional Public Relations P: +61 8 9388 0944
The Information in this report that relates to exploration, targeting and mineralisation results is based on information compiled by Dr Steve Batty, who is a Member of the Australasian Institute of Geoscientists (MAIG) and a full-time employee of the company. Dr Batty has sufficient experience which is relevant to the style of mineralisation and type of deposit 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 Exploration Results, Mineral Resources and Ore Reserves. Dr Batty consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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Figure 1: Project location map.
Rubianna Resources ASX Release 6 December 2012
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Figure 2: Simplified geology of the copper prospect.
Rubianna Resources ASX Release 6 December 2012
| YEAR | TARGET | HOLE_ID | Location | Easting | Northing | Dip | Azimuth | EOH | EOH | Mineralised Interval(feet) |
Mineralised Interval(feet) |
Mineralised Interval(feet) |
Mineralised Interval(metres) | Mineralised Interval(metres) | Mineralised Interval(metres) | Grade (Cu %) | WAMEX Reference |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| **Feet ** | Metres | From | To | Interval | From | To | Interval | ||||||||||
| 1968 | BA4 | EKD1 | 48400E, 51900N | 358920 | 6749753 | -60 | 180 | 221.10 | 229.70 | 8.60 | 67.39 | 70.01 | 2.62 | 0.8 | A5389 | ||
| 586.5 | 178.77 | 238.15 | 238.75 | 0.60 | 72.59 | 72.77 | 0.18 | 1.01 | |||||||||
| 240.85 | 243.30 | 2.45 | 73.41 | 74.16 | 0.75 | 4.6 | A5389 | ||||||||||
| EKD2 | 47600E, 51800N | 358678 | 6749712 | -60 | 180 | 8520 | 25969 | 665.60 | 666.50 | 0.90 | 202.87 | 203.15 | 0.27 | 1.56 | A5389 | ||
| . | . | 667.50 | 668.00 | 0.50 | 203.45 | 203.61 | 0.15 | 1.5 | A5389 | ||||||||
| EKD3 | 46800E,51300N | 358437 | 6749552 | -60 | 180 | 687 | 209.40 | 558.50 | 561.20 | 2.70 | 170.23 | 171.05 | 0.82 | 0.78 | A5389 | ||
| *EKD4 | 49200E,52200N | 359158 | 6749856 | -60 | 180 | 419 | 127.71 | 393.70 | 415.70 | 22.00 | 120.00 | 126.71 | 6.71 | NONE | A5389 | ||
| 1968 | BA3 | EKD5 | 52300E,53400N | 360089 | 6750249 | -60 | 215 | 377 | 114.91 | 229.50 | 237.60 | 8.10 | 69.95 | 72.42 | 2.47 | 0.43 | A5389 |
| EKD6 | 54800E,52300N | 360857 | 6749937 | -60 | 215 | 353 | 107.59 | 271.50 | 280.00 | 8.50 | 82.75 | 85.34 | 2.59 | 0.15 | A5389 | ||
| 1969 | BA4 Between EKD1 & 4 |
EKP7 | ? | ? | ? | 200 | 60.96 | 30.00 | 0.00 | 0.00 | 9.14 | TRACE Cu Zn | A5389 | ||||
| EKP8 |
48800E,51900N | 359039 | 6749755 | ? | ? | 200 | 60.96 | 65.00 | 0.00 | 0.00 | 19.81 | TRACE Cu Zn | A5389 | ||||
| EKP9 | ? | ? | ? | 200 | 60.96 | 195.00 | 200.00 | 5.00 | 59.44 | 60.96 | 1.52 | 0.2 | A5389 | ||||
| 1971 | BA4 SW extension |
EKP10 | 40050E,46400N | 356434 | 6747982 | ? | 90 | 230 | 70.10 | 10.00 | 30.00 | 20.00 | 3.05 | 9.14 | 6.10 | 0.68 | A2907 |
| EKP11 | 40400E,46800N | 356540 | 6748108 | ? | ? | 250 | 76.20 | 0.00 | 0.00 | 0.00 | 0.00 | NONE | A2907 | ||||
| EKP12 | 40750E,47200N | 356638 | 6748235 | -60 | 90 | 200 | 60.96 | 80.00 | 85.00 | 5.00 | 24.38 | 25.91 | 1.52 | 0.14 | A2907 | ||
| EKP13 | 41450E,47600N | 356849 | 6748365 | -60 | 90 | 205 | 62.48 | 20.00 | 50.00 | 30.00 | 6.10 | 15.24 | 9.14 | 0.15 | A2907 | ||
| BA4 Between EKD1 & 4 |
EKP14 | 49000E,51880N | 359102 | 6749750 | -60 | 180 | 250 | 76.20 | 5.00 | 20.00 | 15.00 | 1.52 | 6.10 | 4.57 | 0.06 | A2907 | |
| EKP15 |
48200E,51770N | 358861 | 6749709 | -60 | 180 | 250 | 76.20 | 145.00 | 155.00 | 10.00 | 44.20 | 47.24 | 3.05 | 0.14 | A2907 | ||
| EKP16 |
48000E,51650N | 358797 | 6749671 | -60 | 180 | 250 | 76.20 | 175.00 | 215.00 | 40.00 | 53.34 | 65.53 | 12.19 | 0.11 | A2907 | ||
| EKP17 | 47800E,51520N | 358743 | 6749631 | -60 | 180 | 210 | 64.01 | 170.00 | 185.00 | 15.00 | 51.82 | 56.39 | 4.57 | 0.15 | A2907 |
Table 1: Results from WMC drilling (1969-1972) summarised from WAMEX reports A5389 & A2907.