ASX and Media Release
26 June 2007
WARWICK DELIVERS HIGH GOLD RECOVERIES FROM METALLURGICAL TESTING AT
JIMBLEBAR
KEY POINTS
�
Results from screen fire
assays confirm high gold intercepts at Sunny South
�
Preliminary metallurgical
testing delivers high gold recoveries using conventional CIL/CIP processing
�
Favourable results
justify further drilling to target projected extensions to high grade gold
shoots at Jimblebar
___________________________________________________________________
Pilbara explorer Warwick
Resources Limited (ASX:WRK) today announced further positive results from the
high grade gold intersections at Sunny South on the company’s 100% owned
Jimblebar project near Newman, WA.
These results follow the maiden
RC drilling programme at Jimblebar which earlier this month identified the
spectacular gold intersection of 1m @ 160g/t
Au within 8m @ 22.3 g/t Au.
Warwick Resources
Technical Director Bruce McQuitty said the favourable metallurgical results
were another important milestone in the development of the Jimblebar gold
project.�
“Screen fire
assaying has confirmed the previously reported results and has demonstrated the
presence of coarse gold,” Mr McQuitty said.
“Significantly,
preliminary metallurgical testing also indicates that gold recoveries in excess
of 97% could be expected using conventional CIL or CIP processing
techniques,” Mr McQuitty said.
“These results are
promising for the ongoing development of the project. They demonstrate that the
high grade assay results are repeatable and that the gold metallurgy is
favourable, and further justify an immediate follow-up drilling programme to
test for extensions of the high grade gold shoots at Jimblebar.”
“We are well funded
and have access to drill rigs to plan the next drilling programme which will
include new and step-out targets following on the successes of the first
programme.”
“We always believed
the Jimblebar goldfield was under-explored and under-exploited. The historical
mining activities stopped at the water table and we identified potential to
discover high grade gold shoots at shallow depths,” he said.
Details
of screen fire assay results
Individual one metre
samples from intersections of 8m @ 22.3g/t Au
from 34m in drill hole WRKRC6 and 10m @
2.1g/t Au from 27m in drill hole WRKRC7, were resubmitted for screen
fire assay and leach-well analyses.� Screen fire assaying provides a measure of
the coarse gold in the sample and the results are considered a more accurate
reflection of the overall sample grade than standard fire assay results.
Table
1: Summary of Screen Fire Assay Results
|
Drill hole
|
Intersection Depth
From – To
(m)
|
Intersection using
40g Fire Assay results
|
Intersection using
Screen Fire Assay results
|
|
WRKRC6
|
34 - 42
|
8m @ 22.3 g/t Au
|
8m @ 20.4 g/t Au
|
|
including
|
38 - 39
|
1m @ 160.0 g/t Au
|
1m @ 144.0 g/t Au
|
|
WRKRC7
|
27 - 37
|
10m @ 2.1 g/t Au
|
10m @ 2.1 g/t Au
|
Note:
100g of sample residue (nominally 90% -75um) was split to perform leachwell
analyses by Ultra Trace Laboratories,� the remaining sample residue
(approximately 1kg) was weighed then dry-sieved through a -150um mesh, with the
entire plus (course) fraction weighed and assayed by fire assay and a 40g
sample of the minus (fine) fraction assayed by fire assay. The Screen Fire
Assay was then calculated using the weighted average of the two assay results.
A minor variance only was
recorded between the screen fire assay results and the 40g fire assay results.
Significantly, the high grade result of 160g/t Au in WRKRC6 has been validated
by a screen fire assay of 144g/t Au.
Details
of Metallurgical testing
Preliminary metallurgical
testing was undertaken by Ultra Trace Laboratories on WRKRC6 and WRKRC7.�
Leach-well analysis provides a measure of the solubility of gold in cyanide
solution. The method mirrors the performance of a commercial CIL or CIP plant.
Both the leached gold (leachate) and the undissolved gold (tail) are assayed
and the results can be used to calculate a nominal recovery.
Table
2: Summary of Leachwell Results
|
Drill
hole
|
Intersection
Depth
From
– To (m)
|
Intersection
weighted Leachwell results
|
Intersection
weighted tail
|
Nominal
gold recovery
|
|
WRKRC6
|
34 - 42
|
8m @ 20.37 g/t Au
|
8m @ 0.32 g/t Au
|
98.5%
|
|
including
|
38 - 39
|
1m @ 146.0 g/t Au
|
1m @ 2.05 g/t Au
|
98.6%
|
|
WRKRC7
|
27 - 37
|
10m @ 1.92 g/t Au
|
10m @ 0.04 g/t Au
|
97.8%
|
Note:
200g Leachwell analyses, with gold determined by ICP Mass Spectrometry. Tails
are recovered by pressure filtration then dried, milled and analysed by Fire
Assay or Aqua-Regia digest.
Interpretation
and Proposed Drilling at Sunny South
Interpretation of the
drilling results has revealed the presence of two easterly-dipping gold lodes
near the Sunny South workings with only the footwall lode having been exploited
by early miners. The high grade shoot intersected in WRKRC6 is open down dip
and the hanging wall lode remains open along strike to the north and down dip.
The objectives of the next
phase of drilling at Sunny South are to test for extensions to the existing
high grade mineralisation and to step-out to the south to target additional
high grade shoots. Figure 1 shows the location of the proposed drilling
programme on a longitudinal projection and emphasises the shallow nature of the
high grade mineralisation.
Approvals for the drilling
are in place, which is expected to commence in July subject to Indigenous
heritage clearances.
Ends
For further information, please contact:
Warrick
Hazeldine��������������������������������������������������������� Bruce
McQuitty
Purple
Communications������������������������������������������������� Warwick
Resources Limited
Phone:
08 9485 1254 / Mobile: 0417 944 616�������������� Phone:� 08 9481 8181
/Mobile: 0409 929 121
Email:
whazeldine@purplecom.com.au ����������������������� Email:
bmcquitty@warwickresources.com.au
Website:
www.warwickresources.com.au�
The information in this report to which this statement is
attached that relates to Exploration Results, Mineral Resources or Ore Reserves
is based on information compiled by Mr Bruce McQuitty, who is a Member of the
Australian Institute of Geoscientists. Mr McQuitty is a full-time employee of
the Company and has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity they
are 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’. Mr McQuitty consents to the inclusion in
this report of the matters based on his information in the form and context in
which it appears.
About
Warwick
Resources
Warwick Resources is headquartered in Perth, Western
Australia and listed on the ASX in February 2007. The
company has a diverse asset portfolio and is engaged in an aggressive
exploration program in the Pilbara region of Western Australia, close to world class iron
ore mines and major infrastructure near Newman.�
Warwick Resources strategy is to advance
exploration projects with pre-established mineralisation in high value
commodities which have significant prospects for discovering further
mineralisation and can be developed quickly into commercial operations.�
The Company is developing a number of
highly prospective mineral projects near Newman, consisting of large
consolidated tenement blocks with a total area of more than 700km�. The
northern block comprises gold, copper, chromite and channel iron projects and
the southern block comprises two nickel sulphide projects and a base metals and
uranium project. These tenements are located south of BHP Billiton’s
Jimbelbar iron-ore mine and south-west of Consolidated Minerals’ Coobina
chromite mine.