Sign up Australia
Proactive Investors - Run By Investors For Investors

Zamia Gold Mines' drilling looks to expand molybdenum resource at Anthony

Zamia Gold Mines' drilling looks to expand molybdenum resource at Anthony

Zamia Gold Mines (ASX: ZGM) is continuing deep diamond drilling to test extensions of the Anthony molybdenum deposit in near Clermont in central Queensland, aiming to expand the current resource, both at depth and laterally.

It is also drill testing gold anomalies at Frankfield Hill and West Lucky Break in the Drummond Basin geological region.

At Anthony, assays are still pending for core in holes RCD55 and RCD56 (both drilled at 60 degrees) which had visual Mo mineralisation in the core, including apparently higher grade zones.

Diamond tails on previously drilled Reverse Circulation (RC) holes RC44, RC32 and RC38 have now been completed. Visual Mo mineralisation was observed in all three holes with assays not yet available.

Diamond tails on other RC holes are also planned during the current drilling programme and further RC holes are planned to test the lateral extent of the Anthony deposit.

Metallurgy tests demonstrate that pre-concentration of run-of-mine ore is likely to improve Anthony Mo processing grade and economics.

RC drilling on the Frankfield Hill gold anomaly has commenced. RC drilling on the West Lucky Break gold anomaly is to follow.

Tests on a bulk sample from six different drill cores at the Anthony deposit showed that preconcentration of run of mine ore from 408 ppm Mo to 973 ppm Mo appears to be readily achievable.

A saleable 50%+ Mo concentrate should be able to be produced after a limited number of cleaning stages and at high Mo recovery.

Preliminary estimates made by the company indicate the Anthony project should have favourable economics at current Mo prices.

A scoping study to further investigate these matters has commenced, ahead of a proposed Definitive Feasibility Study which is scheduled to be undertaken in 2011.

In April this year Zamia announced an initial Inferred Resource for Anthony of over 80 million tonnes.

In September the company announced an upgraded resource of 130 million tonnes at 0.04% (400ppm) Mo with a cut-off grade of 0.02% (200ppm) Mo in the primary sulphide zone.

View full ZGM profile View Profile

Zamia Metals Timeline

Related Articles

Gold on paperwork
April 16 2018
Dr Rodney Boucher leads on-ground exploration activities as the company pushes on in Victoria.
1507640356_Copper-tubing.jpg
October 11 2017
Tethyan Resources is sitting on promising mineralisation in a prime location in Europe
1513945199_Humm2.jpg
December 22 2017
The plan in 2018 is to deliver not one doré bar, but a 130,000 ounces of the yellow metal

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use