Bass Metals Ltd

Published : October 20th, 2011

McKay High-Grade Hit

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Keywords :   Australia | China | Copper | Gold | Lead | Silver | Zinc |

McKay High-Grade Hit


Dear All,

Today Bass Metals provided ASX with the following highlights with a general update report:

  • 1.7 metres at 21.9% zinc, 14.7% lead, 1.0% copper, 182 g/t silver and 2..3 g/t gold.
  • Positive production progress at Hellyer Project �?" 6th Milling campaign.
  • LN Metals concentrate marketing arrangement extended to include potential bulk lead-zinc concentrate production from retreatment of the Hellyer Tails.
  • Fundraising in progress with shareholder entitlement offer closing at 5..00pm (Perth time) on Wednesday, 26 October 2011.

Please refer to the attached announcement for further details.  (ASX_20 Oct_New High Grade McKay drill intercept.pdf).

I consider the announcement significant for several reasons; it shows continuing exploration success at McKay, with a narrow but super high grade intercept which is validating a very prospective new exploration target model for finding new large scale deposits.  At the Hellyer Project, whilst the figures should be regarded as "work in progress" it demonstrates a sound operating performance with the technical issues of June now clearly behind us.  As well, the extension of the relationship with LN Metals demonstrates we are looking to the future to exploit additional resources and more fully utilise the mill and with LN Metals' expertise in China it will be exciting to see what opportunities eventuate there for possible bulk lead-zinc production emanating from the Hellyer tails.

The fundraising process has seen Kim Denwer and I travelling extensively around Australia and overseas to update shareholders on the Company's activities and the opportunity to invest in Bass through the current Rights Offer.  My apologies to those shareholders in Adelaide where we have not been able to schedule an investor forum due to time constraints and the relatively low number of shareholders there.  This omission also got me into trouble domestically as my wife hails from SA �?" however, very happy to take any calls and answer any questions!  I was surprised in my recent discussions with shareholders at the number of people who did not appreciate that they can apply for extra shares above their entitlement amount if they wanted too.  So please note this opportunity at the base of the application form.  Also note the new closing deadline of 5:00 pm (Perth Time) Wednesday 26 October, 2011.

Kind Regards

Mike Rosenstreich


Data and Statistics for these countries : Australia | China | All
Gold and Silver Prices for these countries : Australia | China | All

Bass Metals Ltd

PRODUCER
CODE : BSM.AX
ISIN : AU000000BSM8
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Bass Metals is a lead and zinc producing company based in Australia.

Bass Metals produces lead, zinc, copper, gold and silver in Australia, develops copper, gold, lead, silver and zinc in Australia.

Its main asset in production is QUE RIVER MINE in Australia, its main asset in development is HELLYER MINE in Australia and its main exploration properties are WHYTE RIVER, HEAZLEWOOD, STERLING VALLEY, MAGNET JV, LYNCHFORD JV, LEVEN RIVER JV, OONAH JV, MT CHARTER and FARRELL in Australia.

Bass Metals is listed in Australia. Its market capitalisation is AU$ 417.3 millions as of today (US$ 299.4 millions, € 257.9 millions).

Its stock quote reached its highest recent level on February 18, 2011 at AU$ 0.47, and its lowest recent point on June 27, 2014 at AU$ 0.00.

Bass Metals has 1 368 150 016 shares outstanding.

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Nominations of Bass Metals Ltd
8/28/2008Appointment of new Exploration Manager
Project news of Bass Metals Ltd
12/9/2011Commercial Robustness of Hellyer Gold Project
10/20/2011McKay High-Grade Hit
7/28/2010(Hellyer Mine)Positive Gold Processing Scoping Study Outcomes
1/27/2010(Hellyer Mine)to Develop its Second Base Metals Mine in Tasmania
8/18/2009(Hellyer Mine)Updated Fossey Zone Resource
6/23/2009(Hellyer Mine)Hellyer Mine Lease Transfer & Tails Resource Update
2/17/2009(Que River Mine)Que River Drilling Update
2/10/2009(Que River Mine)Que River Ore Reserve Upgrade
2/4/2009(Hellyer Mine)Fossey Zone Drilling Update
12/11/2008(Hellyer Mine)Expands Growth Horizons With Landmark $4m Hellyer Mill Acqui...
11/14/2008(Hellyer Mine)High grade drill intercepts at Fossey Zone
9/30/2008(Hellyer Mine)Fossey Zone Resource - Doubles Hellyer Resources
9/26/2008(Que River Mine)Delivers Maiden $1.8M Net Profit Underpinned by Strong Produ...
9/8/2008(Que River Mine)Hellyer & Que River Mine Update
8/19/2008Further Progress on High-Grade Polymetallic Mineralisation a...
7/1/2008(Hellyer Mine)High grade drill intercepts at Fossey Zone
6/23/2008(Que River Mine)Que River Mine Operations Update
5/2/2008 Fossey Zone - High Grade Drill Intercept
4/17/2008(Hellyer Mine)Hellyer Mine Project- High Grade Drill Intercept
3/10/2008Bass Metals: Fossey Zone, Hellyer - Further High Grade Assay...
2/27/200819 Metre High Grade Intersection at Fossey Zone, Hellyer
2/12/2008 Further High Grade Base Metal Intersections at Fossey Zone
Corporate news of Bass Metals Ltd
5/27/2016Bass Transaction Update
12/4/2015Bass Transaction Update 4 December 2015
9/18/2015Bass Metals Ltd Investment Update
12/29/201330.12.2013 Quarterly Activities Report
10/25/2011MD Interview =e2?? Quarterly and Capital Raising
10/25/2011September Quarterly Report - A Strong Recovery
10/13/2011Open Investor Forums - Brisbane, Sydney, Melbourne, Perth an...
9/15/2011Prospectus and Update Interview
7/20/2011Rebuilding Lost Value
6/15/2010European Investor Roadshow
6/11/2010New Broker Research from Intersuisse
1/29/2010December 2009 Quarterly Report Of Activities & Cashflow
10/5/2009Hellyer Toll Treatment Letter of Intent
9/28/2009Bass poised for strong growth after sharp increase in profit
9/14/2009Reaches Agreement to Extend Que River Ore Sales
7/30/2009June 2009 Quarterly Report
3/11/2009Delivers $4.5M First Half Profit on Strong Que River Perform...
12/24/2008Drilling Update
8/20/2008Iron, Tin & Tungsten - new Joint Venture
7/30/2008June 2008 Quarterly Activities Report
7/17/2008Metal - Hellyer Project Drilling Update - Fossey Zone Strike...
5/15/2008Exploration & Development Update
4/24/2008Stong March Qtly Report
4/24/2008Quarterly Activities Report - March 2008
1/31/2008December 2007 Quarterly Activities Report
12/21/2007Final Update for 2007
11/21/2007Patersons Research Report
6/26/2007Signs Key Que River Off-take Agreement with Zinifex
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