ASX and Media Release
7 February
2007
HIGH
GRADE GOLD RESULTS FROM JIMBLEBAR
KEY POINTS
·
Further high grade gold
intersections from RC drilling at Sunny South, including 1m @ 17.1g/t Au, 1m @ 11.8g/t
Au and 10m @ 4.0g/t Au.
·
Multiple stacked gold lodes
recognised within an altered felsic intrusive - mineralisation remains open
down dip to east below 50m depth.
·
Substantial molybdenum anomaly outlined at Shearers.
Pilbara explorer Warwick
Resources Limited (ASX:WRK) today announced further high grade gold intersections
from its 100% owned Jimblebar project, located near Newman, WA.
The best intersections
came from the Sunny South prospect and included 1m @ 17.1g/t Au from 26m depth in drill hole WRKRC51 and 1m @ 11.8g/t Au and 10m @ 4.0 g/t Au from 18m and 22m depth
respectively, in drill hole WRKRC52, as detailed in Table 1.
Warwick Resources is
targeting predominantly open pit gold resources at the historic Jimblebar
goldfield, which has a 2km strike length and potential extensions up to 8km. Exploration
to date has focused on Sunny South where high grade gold mineralisation has
been identified at shallow depths.
Warwick Resources Managing
Director Bruce McQuitty said results
from the drilling programme were highly encouraging, and provided an improved
understanding of the local controls to gold mineralisation.
“The results confirm
the presence of high grade gold mineralisation associated with a felsic intrusive
unit at Sunny South,” Mr McQuitty said.
“Our modelling shows
that nuggety high grade gold is contained within a series of moderately-dipping
stacked lodes. The lodes display good continuity and remain untested below 50m
depth and sparsely tested along strike.
“Drilling results
have also outlined a substantial molybdenum anomaly at Shearers, which will be
the subject of further investigation,” Mr McQuitty said.
In June, Warwick announced it had identified a gold intercept of 1m @ 144g/t
Au within 8m @ 20.4g/t Au from 34m depth in drill hole WRKRC6. This
intersection is below the base of oxidation (see Figure 1) and is not the
result of supergene enrichment.
The RC drill programme
consisted of eight holes for a total advance of 755m (see Table 2 for drill
hole details and Figures 2 and 3 for drill hole locations). Five of the holes
(WRKRC51-55) tested the orientation of high grade shoots at Sunny South
prospect, while a further three holes (WRKRC48-50) provided a broad first pass
test of the Shearers prospect.
At Shearers, three broadly
spaced drill holes (WRKRC48-50; see Figure 3) intersected low concentrations of
gold, with a maximum result of 1m @ 0.6g/t Au from 93m depth in WRKRC49. Sporadic shallow drilling by
previous explorers at Shearers obtained better intersections of 1m @ 5.4g/t Au,
3m @ 3.1g/t Au and 15m @ 0.6g/t Au. Small-scale mining of the Shearers lode in
the early 1930’s produced 1,792 oz Au from 6,100t of ore at an average
grade of 9.1g/t.
A significant result from
the drilling near Shearers is the intersection of 86m @ 0.02% molybdenum (no cut-off) from surface, including 1m @ 0.45% Mo from 62m depth, in drill hole
WRKRC49. The intersection is of similar tenor to the 91m @ 0.02% Mo intersection
obtained from surface in WRKRC8, located at Middle Watch, 250m to the south (see
ASX announcement 1st
May 2007). The results outline a substantial molybdenum anomaly between
Shearers and Middle Watch which will be the subject of further exploration.
A Gradient Array Induced Polarisation (IP)
survey over the Jimblebar project has been partially completed. Gradient Array IP is
considered an effective technique for locating disseminated sulphides which
form a halo to gold mineralisation at Jimblebar. Results from the survey are
expected near the end of February and will be used to plan further drilling. Work is continuing on the
geochemical sampling programme (soils, rock chips and aircore drilling) that
has already identified several large gold anomalies (see Figure 3 and ASX
announcement of 11th
December 2007).
The company advises that it
intends to undertake a programme of RC drilling at its Caramulla South,
Jimblebar CID and Jimblebar
Range iron ore projects
in late February, subject to obtaining the necessary approvals and clearances.
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
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