AI assistant
ZIP CO LIMITED.. — Regulatory Filings 2013
Jul 3, 2013
66119_rns_2013-07-03_0dc05ae1-aec3-4b8a-b250-cde880dfba02.pdf
Regulatory Filings
Open in viewerOpens in your device viewer
==> picture [110 x 108] intentionally omitted <==
ASX Release 4 July 2013
RUBIANNA AWARDED $150,000 TO DRILL KOOKYNIE COPPER PROJECT
HIGHLIGHTS
-
A$150,000 WA Government grant to drill the Kookynie Copper project
-
High-resolution airborne magnetic survey defines targets
-
● Multiple coincident geochemical targets defined
Rubianna Resources Limited (ASX: RRE, “Rubianna” or “the Company” ) is pleased to announce it has been awarded an A$150,000 co-funded drilling grant for the Kookynie copper project located approximately 60km northeast of Menzies, Western Australia (Figure 1) and to provide an exploration update on the project.
The grant was awarded under the WA Government’s “Innovative Drilling Program” within its Exploration Incentive Scheme (EIS). This co-funded EIS grant is active for 12 months from the 1[st] July 2013.
The objective of the RC drill programme supported by the grant is to evaluate areas of significant copper and multi-element geochemical anomalism, along with coincident geophysical targets identified within the Kookynie project (Figures 2 & 4) in the search for VMS style base metal targets (Figure 3).
Rubianna’s Managing Director Dr Steve Batty said: “ Due to the historic copper intercepts by WMC ( EKD1, 0.7m @ 4.6% Cu, from 75m and EKD2, 0.4m @ 1.5% Cu, from 202m), the Dingus prospect has been an obvious target since we purchased the tenement in December 2012[1] and this government support provides an ideal opportunity to follow up that potential.
“We are particularly excited by the additional targets generated from work we have completed so far this year, including the acquisition of high-resolution airborne magnetics, which indicates a coherent structural, stratigraphic system along with anomalous geochemistry from our soils programmes that is indicative of VMS deposits. The geology at Kookynie clearly shows numerous components that are similar to the deposits of Teutonic Bore, Jaguar and Bentley located to the North of Leonora.”
Drilling will commence at an appropriate time to match market conditions.
ENDS
1 ASX Announcement 23/01/2013
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 4 July 2013
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 & Colin Jacoby Professional Public Relations P: +61 8 9388 0944
The Information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on and fairly represents information and supporting documentation prepared by Dr Steven Batty and Mr Matthew Svensson, who are Competent Persons who are members of the Australasian Institute of Geoscientists (AIG). Dr Batty and Mr Svensson are full-time employees of the company.
Dr Batty and Mr Svensson have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities being undertaken to qualify as Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Batty and Mr Svensson consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.
This announcement contains forward-looking statements which involve a number of risks and uncertainties. These forward looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.
==> picture [338 x 406] intentionally omitted <==
==> picture [175 x 304] intentionally omitted <==
----- Start of picture text -----
KOOKYNIE
COPPER PROJECT
----- End of picture text -----
Figure 1: Location (right) and simplified geology of the Kookynie base metal prospect and area covered by the highresolution airborne magnetic survey and soil geochemistry.
Rubianna Resources ASX Release 4 July 2013
==> picture [513 x 444] intentionally omitted <==
Figure 2: Targets at the Kookynie copper project based on geophysical structures, geochemical anomalies and stratigraphy. Background shows the 1[st] vertical derivative magnetic image produced from the high-resolution survey completed earlier this year.
-
TARGET TYPE #1: The Dingus (former WMC target BA4) and Angus prospects are located along the same felsic stratigraphic horizon positioned between mafic units to the north and south (note the continuous NE-SW trending linear magnetic unit that is folded at either end). The Fergus prospect is located within a similar felsic but different sub-parallel stratigraphic horizon (note the position at the fold nose highlighted by numerous continuous linear magnetic units).
-
TARGET TYPE #2: The Huey, Dewey and Louie prospects are all associated with what are interpreted to be structurally controlled linear magnetic anomalies within a basalt horizon, with the Scrooge prospect also in the same unit, however, with minimal magnetic enrichment.
Rubianna Resources ASX Release 4 July 2013
==> picture [510 x 161] intentionally omitted <==
Figure 3: Examples of two schematic exploration models for VMS style mineral deposits (from Galley et al., 2007) that appear to represent many of the geological and geochemical components that are present in the Kookynie project area.
==> picture [511 x 442] intentionally omitted <==
Figure 4: Targets at the Kookynie project highlighted by the Copper geochemical anomalies from soil samples collected by Rubianna during the first half of 2013.