Brisbane, June 13, 2008 AEST (ABN Newswire) - Kangaroo Metals Limited (ASX: KML) has pegged a new exploration tenement in northeast Tasmania. The tenement (EL21/2008) covers 172 km2 adjacent to the South Mt Cameron operations currently under acquisition and the tenements held by Van Diemen Mines.
The new tenement covers large tracts of alluvium with previous exploration data highlighting regional potential. Data acquired through the due diligence process at Riverside has highlighted the shortfalls in the historic drill results indicating significant underestimates of grade. Bulk sampling of these regions will quickly delineate the variance from true grade and allow us to assess the viability of additional operations in the area.
The EL21/2008 tenement covers areas of historic mining including Little Mt Horror, Banca, Dorset, Chung, Boobyalla Flats and extensions north of the Pioneer Mine. The area contains over 5400 Ha of alluvium comparable to that found at Riverside and should add significantly to the exploration program in the region.
"Pegging this ground adds value to the operations at Mt Cameron and should see continuing operations in the area into the 5-10 year window anticipated for high tin pricing and maintain revenue from the overall project for the foreseeable future."
Note:
This report is based on and accurately reflects information compiled by Dr Brian New, BSc., who is a fulltime employee of the Company. Dr New has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking 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. Dr Brian New consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Contact
Dr Brett Teale
Managing Director
WEB: www.kangaroometals.com.au
TEL: +61-7-3161-0397
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