South Boulder’s (ASX: STB) flagship project is the world class Colluli Potash Fertilizer Project in Eritrea where mine production of 1Mt p.a. is scheduled for 2016 or sooner from the world's first open cut potash mine.
South Boulder also operates the Duketon Project in Western Australia where there is demonstrated potential for gold, nickel sulphide and base metal mineralisation.
South Boulder Mines bullish on gold results from Terminator Prospect
South Boulder Mines (ASX: STB) has reported that all 1m samples have been received from the first RC drilling program at the company’s 100% owned Terminator Gold Prospect within the Duketon Gold Project in Western Australia.
High grades up to 28.60 g/t Au were intersected in RC hole STBTRC001 and highly anomalous gold mineralisation was intersected in all drill holes. Further drilling will be conducted upon a full interpretation of the results and access to a suitable drill rig.
Highlights include:
- STBTRC001 12m @ 4.31 g/t Au from 154m; inc. 5m @ 9.60 g/t Au from 154m and inc. 1m @ 28.60 g/t Au from 155m.
- STBTRC003 4m @ 2.20 g/t Au from 120m; inc. 2m @ 4.20 g/t Au from 120m and inc. 1m @ 7.23 g/t Au from 120m.
- STBTRC005 20m @ 0.82 g/t Au from 129m;inc. 3m @ 1.12 g/t Au from 130m and inc. 6m @ 1.49 g/t Au from 143m.
South Boulder said highly encouraging first pass RC drilling results have been returned from a small program designed to test the depth extensions of the broad significant gold mineralised system initially outlined by Aircore drilling at the company’s Terminator Gold Prospect.
The program was completed in April and comprised 7 RC holes for 1,226m. It was designed to target a sheared contact between an ultramafic and mafic sequence, which is currently believed to be the control on the gold mineralisation.
The highest individual gold assay intersected was 1m @ 28.60g/t gold from 155m depth in RC hole
STBTRC001. This high grade result was within a broader intercept of 12m @ 4.31g/t gold from 154m and also within 5m @ 9.60g/t gold from 154m depth.
An initial review of the drilling results, suggest that the mineralisation appears structurally complex and may involve a significant change of interpreted strike direction to the northwest in the area tested.
The high grade shallow oxide gold mineralisation encountered in the Aircore drilling may also plunge to the south and this was not effectively tested by the drilling. All holes except STBTRC001 appear to have missed the main lode.
These concepts will be tested by further RC drilling scheduled upon a full interpretation of the results and access to a suitable drill rig.
Importantly the Aircore mineralisation is currently well defined over ~ 400m strike length and is open in all directions.
The mineralisation is defined as open in all directions because it has either not been drilled or the drilling is considered to be ineffective.
The Terminator Prospect occurs within a broader anomalous zone over 3km’s which has to date only been very lightly tested by a handful of reconnaissance drill holes.
The company said further Aircore drilling is also planned to test the strike extensions to the Terminator and Terminator North Prospects and to provide additional information about the deep weathering encountered thus far in the region.
Lorry Hughes, managing director, stated that all holes hit very broad intercepts of low grade gold mineralisation and the broadly anomalous gold signature continues to provide encouragement for the Terminator Gold Project to host a significant gold deposit.
