Further High Grade Gold From Historic NZ Goldfield Region
Adelaide, Sep 2, 2014 AEST (ABN Newswire) - Strategic Elements (
ASX:SOR) has reported further high-grade gold anomalies from the Golden Blocks project in New Zealand.
Aorangi Mine
The No. 3 Level entrance to the Aorangi gold mine was inspected to assess access into No. 3 level, where last exploration assays and production records reported extremely rich gold. Sediment blocking the No. 3 Level entrance needs to be removed to enable access for personnel and equipment.
A panned concentrate sample of 16.27 g/t gold from the catchment above and to the west of the Aorangi mine may reflect either further gold mineralisation or weathering surface residual gold. Importantly however, the sample location rules out gold being sourced from historic mine workings.
Upper Webb Stream
The West Wanganui Goldfield region is highly underexplored with modern exploration techniques. Apart from the obvious high-grade target at the Aorangi mine, there are multiple styles of potential gold mineralisation within the wider 132km2 permit.
The Company identified a potential area of interest in the Upper Webb Stream more than 4km to the south of the Aorangi mine, and the area was targeted for an initial sampling program. High grade gold was reported in all 5 panned concentrate samples:
Sample 7319 51.28 g/t gold
Sample 7320 39.99 g/t gold
Sample 7323 39.73 g/t gold
Sample 7322 21.25 g/t gold
Sample 7321 6.85 g/t gold
The geology of the Upper Webb Stream area is quite different to the Aorangi mine area. The source of the gold is currently unknown and there are no historic mine workings in the area. Government geological mapping shows potentially favourable structures (faults/folds) that may provide pathways for gold mineralisation. The Company is obviously very pleased with the results of the initial sampling program and Upper Webb Stream has become a key area for future exploration.
Over a hundred years of knowledge, and experience of new gold models needs to be incorporated into the ongoing review of the West Wanganui region. Initial sampling programs such as the one conducted at the Upper Webb Stream area can be used to test different concepts and models.
West Wanganui
In addition, further samples at West Wanganui, approx. 5km to the southwest of the Aorangi Mine were taken from a catchment where rich gold was reported in 1905. Despite two shafts being sunk, the source of the gold was never discovered. The Company has previously reported gold within intrusive rocks from this area, a deposit model unknown to the old diggers.
Several panned concentrate samples were taken with Sample 7317 reporting 3.1 g/t gold and Sample 7316 with 2.5 g/t gold. Previous rock sampling detected wide spread lower grade intrusive gold up to 0.65 g/t in float.
Follow-up sampling will lead to a review of the previously conducted geophysical survey to sample any zones of potential higher grade gold.
Information released by the Company relevant to the areas covered in this announcement includes:
Aorangi Mine - historical(1)
- Average head grade to battery of 46.9g/t gold.
- Gold reported in floor and continuing at depth.
- Last exploration assays of 663.8g/t over 0.75m and 5324.5 g/t over 0.25m from No. 3 Level.
Aorangi Mine - upper levels(2)
- Rock grab samples: 35.85 g/t, 16.53 g/t, 1.47 g/t gold.
- Representative rock chip: 0.4m @ 13.19 g/t, 0.7m @ 5.62 g/t, 0.7m @ 2.37 g/t, 0.9m @ 1.62 g/t gold.
- No. 1 Level and No. 2 Level adits open providing access into mine.
- No. 3 Level adit partially blocked with sediment.
- Sampling within safe areas of the mine to be conducted
Golden Blocks - mapping(3)
- Goldfield north south extent of potential mineralisation of some 5 km.
- East west direction mineralisation extends over some 5km.
- Potential area of 25 km2
West Wanganui(4)
- Key panned concentrate results include 24.33 g/t, 14.49 g/t, 4.07 g/t, 3.54 g/t, 1.83 g/t and 1.17 g/t gold.
- Geophysical survey flown and initial interpretation completed.
- Follow up sampling to be conducted.
Upper Webb Stream
- Panned concentrate results of 51.28 g/t, 39.99 g/t, 39.73 g/t, 21.25 g/t, 6.85 g/t gold.
- Follow up exploration to be conducted.
Permit Strategy
The Company has increased its proposed commitment to the area by lodging an additional Prospecting Permit application covering a further 95.2 km2 adjacent to its current permit. The Company will provide more information on this area after it has compiled records of all historical exploration work.
In view of the potential the Company believes to exist within its current permit and the recent permit application, the Company has now relinquished all other permits held in New Zealand
Managing Director Charles Murphy said, "We obviously have a gold mineralising system within the project area and believe the opportunities are pretty wide open. In comparison to a typical Australian historic goldfield region this is virgin country for modern exploration. Although the high grades at the historic Aorangi mine make it a compelling target, the team is being very careful that we assess all potential styles of gold mineralisation throughout the wider area. After all, we are the first modern explorer to enter many areas within the permit even though there appears to be multiple styles of gold".
References:
1. Announced on 18/03/2014
2. Announced on 26/11/2013
3. Announced on 30/04/2014
4. Announced on 25/09/2013
To view tables, and JORC, please visit:
http://media.abnnewswire.net/media/en/docs/78009-ASX-SOR-20140902.pdf
About Strategic Elements Ltd
Strategic Elements (ASX:SOR) shares are listed on the Australian Stock Exchange under the code “SOR”. The Company is registered under the Pooled Development Program run by the Australian Federal Government to encourage investment into SME’s. To assist Pooled Development Fund’s to invest and raise capital, the Federal Government enables most shareholders in a Pooled Development Fund to make capital gains and receive dividends tax-free.
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