Perth, Mar 18, 2008 AEST (ABN Newswire) - Truscott Mining Corporation Limited (ASX:TRM) Announce Tennant Creek Exploration Update.
Overview:
- Truscott engaged Australian Contract Mining Pty Ltd to commence a planned diamond drilling program of eight holes at the Westminster project on the 14th January 2008.
- After early confirmation of relationships between geophysical information and structural elements in the field an extended program of ten holes totalling 2,828 metres of drilling was concluded on the 16th March 2008.
- The drilling program was designed to provide structural information and to follow up on historical high grade intersections. The existence of a complex shear zone 1.4 kilometres in length has been confirmed
- All holes drilled have intersected zones of massive or disseminated magnetite, hematite with chlorite and carbonate alteration within the wider shear envelope and these zones are traditionally associated with gold mineralisation in the Tennant Creek Goldfield.
- The shear which runs the full east west extent along MLC511 and A25952 is expected to have localised subsidiary elements that encompass zones in which preferential gold enrichment has occurred.
- The mineral associations observed in the drill core are more indicative of the oxidised end members of the Tennant Creek ore systems in which gold is predominant over copper.
- Due to the extension of the drilling program and the substantive delays being experienced across the industry with the turn around time for assays, a full analytical and structural report is now not expected to be generated until the close of April 2008.
History
Westminster Project (MLC511, A25952, A26500, A26588 - Truscott 100%)
Truscott’s Westminster project area located just west of the Tennant Creek Township in the centre of the Tennant Creek Goldfield now encompasses an area of 5.96 km2. Initial exploration activity is being concentrated over more than 1.2 kilometres strike length of mineralised ironstone outcrop and subcrop containing historical shallow high grade gold workings.
Westmins
Significant advances in the geological understanding of the area continue to be made with compilation of a detailed database of previous, geological, geophysical, historical drill results and structural datasets combined with recent field mapping, geochemical sampling and ground magnetic and ground gravity survey data. A zone of alteration has been identified with associated elevated trace element geochemistry that encompasses the known area's highgrade gold copper mineralisation within the Westminster Project. The potential of the zone remains inadequately tested by previous exploration.
Much of the early drilling at Westminster targeted four magnetic anomalies generated by a geophysical survey conducted in 1936-37 by AGGSNA (Aerial Geological & Geophysical Survey of Northern Australia). To improve on this 70 year old data, Truscott has completed ground magnetic and ground gravity surveys over the Westminster Project. The magnetic survey used a 50m x 5m proton precession ground magnetometer survey, with data processing by Southern Geoscience Consultants.
During November 2007, Truscott also engaged Daishsat Pty Ltd to complete a 50m x 25m gravity survey, utilising a Scintrex CG-5 digital gravity meter and a Leica GPS unit to produce real time kinematic locations. The ground based survey covering all of the area within MLC 511 and A25952. Data processing by Southern Geoscience Consultants provides further understanding of the relationships between geological units within the tenure.
A 50m x 25m auger geochemical sampling program was conducted over the areas of low lying relief and thin cover within the tenements of MLC511 and A25952 during the quarter. The program outlined an anomalous corridor coincident with alteration, geophysical anomalies, old workings and zones of known mineralisation.
These recently collected more detailed datasets have allowed interpretation of significant additional structural and anomaly detail, considered to be important in orebody targeting. A review of existing drilling shows that many of the old drill locations were not optimal for testing the structural settings and the associated magnetic anomalies, as revealed by the Company's recent surveys.
Following the integration of the historical information and the newly acquired data for the Westminster project, an initial eight hole diamond drill program was planned. The holes have been drilled, and as discussed above, the assay results and related report are expected to be released towards the end of April. The holes as shown above on Figure 3 targeted significant intersections from historical drilling that have not been followed up and geophysical anomalies which include:
Prop drill holes 1, 2, and 3 towards the western end of A25952 will test for gold and copper mineralisation associated with a series of three closely spaced magnetic anomalies. BBDDH1 drilled in 1959, to test AGGSNA anomaly 4 intersected a broad zone of intense carbonate alteration and recorded 23.3m at 0.70g/t Au from 208.3m to end of hole. This hole failed to reach target and a wedged secondary hole was drilled and recorded 37.5m at 0.57g/t Au from 210.2m downhole. Both holes failed to intersect any magnetic material and the anomaly remains unexplained and untested. The carbonate alteration is similar to that in the hanging wall immediately above the TC8 orebody, less than 2.5 kilometres to the west.
Prop drill hole 4 in the central sector of MLC511 will test the down dip extension adjacent to 2m at 8.27g/t Au interested 69m down hole in TCRC02,
Prop drill hole 5 in the eastern sector of MLC511 will test the down dip extension to 5m at 10.94g/t Au intersected 162m down hole in TCRC13,
Prop drill holes 6, 7 and 8 in the eastern sector of A25952 will test for gold and copper mineralisation associated with a series of three closely spaced strong magnetic anomalies. They are located west of historical drill hole intersections which include 1.83m at 11.3g/t Au from 149.8m, within a broader mineralised zone of 24.7m at 1.20g/t Au from 138.8m down hole in WDDH1 and 5m at 39.24g/t Au from 89.1m down hole in NMDDH1.
Work Program
During April 2008 a detailed surface and structural and mapping program will be concluded to provide additional input to support three dimensional modelling of the shear systems and associated mineralisation.
At this stage it is anticipated that second phase infill RC drilling will be initiated in the period May to June 2008.
Competent Person: The contents of this report that relate to geology and exploration results are based on information reviewed by geologist Kevin Alexander, who is a Member of the Australasian Institute of Mining and Metallurgy, and a Member of the Australian Institute of Geoscientists. He has sufficient experience relevant to the style of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a "Competent Person", as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Kevin Alexander consents to the inclusion in this report of the matters compiled by him in the form and context in which they appear.
Contact
Peter N Smith
Executive Chairman
Phone: (+61 8) 9327 7300
Fax: (+61 8) 9324 3691
Email: admin@truscottmining.com.au
Website: www.truscottmining.com.au
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