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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.

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