Gippsland Limited
Gippsland focuses on world-scale projects which have been over-looked by major resource groups. Projects which have undergone detailed exploration and which have the potential to be brought into production quickly are a prime target for the Company. Gippsland's success in this area is due in part to the Company's philosophy of entering into equitable joint venture arrangements with overseas nationals. The Company's prime assets are the 40 million tonne Abu Dabbab and the 98 million tonne Nuweibi tantalum-tin projects located in the Central Eastern Desert of Egypt, adjacent to the western shore of the Red Sea.
Gippsland hopeful for Tasmanian tin upgrade
Wednesday, October 12, 2011 by Christine Feary
Gippsland (ASX: GIP FRA: GIX) could be looking at a potential upgrade in size for the Severn Deposit at the Heemskirk Tin Project in Tasmania, after extensional drilling at the site.
One diamond drill hole and one wedge hole, completed by joint venture partner Stellar Resources (ASX: SRZ), represent a major step out targeted 150 metres down plunge from a historical drill hole that intersected 10 metres grading 0.8% tin.
The purpose of drilling was to test the limit of the northeast margin of the Severn deposit at depth.
Diamond drill hole ZS107 intersected the ZS85 tin bearing pyrrhotite/pyrite zone at 547 metres down hole over a thickness of 20 metres.
The tenor of tin mineralisation in ZS107 was lower than that encountered in ZS84, suggesting that the deep, northeast margin of the tin mineralisation had been intersected.
Meanwhile, wedge hole ZS107A tested the target zone 20 metres above ZS107, intersecting a more intense mineralisation. Assay results are pending.
Geological interpretation indicates that higher grades are most likely to extend at depth in a southwesterly direction.
The inferred resource at Heemskirk remains the same. The next stage of drilling will test below Severn, with the companies believing there is potential to double the size of the resource.
No investment advice
The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content 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 further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.
You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. 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.
