logo-loader

Convergent Minerals unearths 105g/t gold intercept beneath Blue Vein gold mine

Last updated: 12:02 10 Jan 2012 AEDT, First published: 11:02 10 Jan 2012 AEDT

no_picture_pai

Convergent Minerals (ASX: CVG) has completed a reappraisal of previous drilling highlights at the Blue Vein gold mine, part of the Bounty Goldfield in Western Australia, which has revealed multiple lodes of high grade gold beneath the mine.  

The reappraisal has returned highlight intersections of 5 metres at 105.82 grams per tonne (g/t) gold, 2.3 metres at 45.55g/t and 17 metres at 14.92g/t.

The re-evaluation process involved raising the low grade cut-off from 1.8g/t, used by Hellman & Schofield in 2010, to 2.5g/t gold. This eliminates all assays below 2.5g/t gold and highlights the location of the higher grade gold.

Previous drilling at Blue Vein has traced the high grade gold over 1.4 kilometres in length already and it appears to continue both north and south.

Blue Vein is also prospective at depth with high grade gold mineralisation identified 300 metres below the surface in previous drilling.

Interestingly, a mere 8.31% of drill holes have been drilled below 50 metres from surface and only 1.44% of holes are deeper than 100 metres.

As a result Convergent has identified multiple new targets at depth, which offer the potential to increase gold resources.

Drilling is planned to test the depth extension at Blue Vein during the March quarter of 2012.



Blue Vein History

The Blue Vein gold mine was mined by LionOre International between October 1997 and January 1999 using open cut mining methods.

During the life-of-mine, a total of 268,464 tonnes of ore, averaging 4.04g/t gold was mined to produce almost 35,000 ounces of gold from near-surface.

Gold production ceased at a planned open pit depth of 80 metres at a time when gold was trading at lows of $285 per ounce.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

10 hours, 56 minutes ago