Sydney, Nov 24, 2005 AEST (ABN Newswire) - Perseus Mining Limited (ASX: PRU) reports assay results have been received from ZDDH006 and part of ZDDH007 at the Obdilla Gold prospect.
Both holes were collared from a drill pad centrally located on the surface expression of the minersalised zone. Hole ZDDH006 was drilled towards the north at 30 degrees declination and passed through 69m of altered Tolubai suite containing 5-10% sulphides prior to terminating at 121m in limestone.
The first 72.5m of ZDDH006 averaged 2.4g/t Au and included sub-intercepts of 7m @ 2.6g/t, 5m @ 2.9g/t and 51.5m @ 2.7g/t Au (which included 33m @ 3.2g/t and 7.5m @ 2.5g/t Au). Hole ZDDH007, being drilled to the north at 80 degrees declination, has passed through 91.5m of Tolubai suite containing 5-8% sulphides before continuing in limestone to 151m, after which it has intercepted another zone of Tolubai siltstone.
The first 36m of core assayed to date averages 2.5g/t Au, including two sub-intercepts of 9m and 12m, each averaging 3.5g/t Au. Core from these drill holes is consistent with the main zone of mineralisation being about 65m in true width at this location.
The potential at Obdilla is further highlighted by the fact that grades in drilling to date exceed those of the closest trenches. The first few metres of bedrock from each hole indicate possible surface depletion, ZDDH006 averaged 0.7g/t over the first 2m and ZDDH007 averaged 0.6g/t over the first 4m.
A mineralisation zone of over 2,000m long and up to 200m wide has been defined so far at Obdilla through trenching. In the current program, 40 diamond drill holes for approximately 7,500 metres have been planned. A second diamond drill rig is due on site shortly and arrangements will be made for a third rig to be mobilized to site.
The Obdilla prospect has potential for a large tonnage, medium grade gold deposit in a setting comparable to deposits of Nevada's Carlin Trend.
Hole East North Azm Dip Depth* Intercept m Au m m g/tZDDH006 251886 4447619 360 -30 121 0-72.5 72.5 2.4 incl. 2-9 7 2.6 and 13-18 5 2.9 and 21-72.5 51.5 2.7 or 23-56 33 3.2 incl. 47-52 5 6.7ZDDH007 251886 4447619 360 -80 36 0-36 36 2.5
To discuss any aspect of this announcement, please contact Mark Calderwood on
calderwoodm@perseusmining.com.au.
Contact
Perseus Mining Limited
Telephone: (+618) 9240 6344
Facsimile: (+618) 9240 2406
Email address: info@perseus.com
Website: www.perseusmining.com
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