AIM:
EMED
9 July
2007
EMED
Mining Public Limited (“EMED Mining” or “the Company”)
announces further drilling results from the drilling program at the Biely Vrch
Prospect at the Company’s Detva Licence in central Slovakia, as well as the
recognition of the deposit as a classical porphyry gold system.
Highlights
- Drillhole DVE8 has extended
known mineralisation to the west with an intercept of 0.94g/t gold over 258m from surface, including 154m
at 1.3g/t gold from surface.
- Drillhole DVE9 has extended
known mineralisation to the north with an intercept of 41m at 0.7g/t gold
from 62m down hole.
- Current drilling is aimed at
extending mineralisation north and south, as well as testing nearby
prospects analogous to Biely Vrch.
- Biely Vrch
is a classical porphyry gold system which is a deposit type rare
globally and exemplified by several multi-million ounce deposits in the
Maricunga belt of northern Chile.
- Porphyry gold deposits typically occur in
clusters and are usually large (>100 million tonnes), low-grade
(0.7g/t to 1.8g/t gold), bulk-mineable deposits.
- Results to date have defined
a zone of mineralisation estimated to contain 15
to 23 million tonnes at an average grade of 1.0g/t gold, containing approximately
0.5 to 0.7 million ounces. Further work is required to define a
JORC-compliant Mineral Resource.
- Several other prospects within the Company’s
Slovakian Licence have been recognised as having potential to
host porphyry gold mineralisation.
Assay
results have now been received for five (DVE5 to DVE9) of the six drillholes
completed at Biely Vrch during 2007. This program was designed to follow-up the
Company’s first four drillholes at Biely Vrch which all intercepted gold
mineralisation over their entire length.
Drilling
results have confirmed the presence of gold mineralisation underlying the first
target at Biely Vrch, a 300m by 500m soil geochemical anomaly. Gold
mineralisation is contained in a broadly pipe-shaped quartz-veinlet stockwork
zone associated with an andesitic porphyry intrusion.
Drillhole
DVE8 extended known mineralisation (to 250m east-west in total) with an
intercept of 154m at 1.3g/t gold from surface. Drillhole DVE9 extended known
mineralisation (to 350m north-south in total) with an intercept of 41m at
0.7g/t gold from 62m down hole.
Commenting
on the results, Managing Director Harry Anagnostaras-Adams said:
“Mineralisation
at Biely Vrch continues to be extended and is open in several directions. This
drilling provides encouragement for the ultimate delineation of a significant
Mineral Resource.
“The recognition
of Biely Vrch as a porphyry gold system is exciting as this style of deposit
typically occurs in clusters. Our geologists are now applying the porphyry gold
model to our large Slovakian tenements and defining drill targets on several
prospects relatively quickly.
“Drilling continues
at Biely Vrch and initial drilling of nearby prospects is also planned.”
Enquiries:
EMED Mining
|
RFC Corporate Finance
|
Fox-Davies Capital
|
Parkgreen Communications
|
Harry Anagnostaras-Adams
|
Stuart Laing
|
Daniel Fox-Davies
|
Clare Irvine
|
+357 9945 7843
|
+618 9480 2500
|
+44 20 7936 5220
|
+44 20 7851 7480
|
www.emed-mining.com
www.emed.tv
|
|
|
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Biely Vrch Deposit Model
During May
2007, Dr. Richard Sillitoe, a leading global expert on the geology and
mineralisation of porphyry systems, visited Biely Vrch and other Company
prospects in Slovakia.
Dr. Sillitoe advised that:
“The Biely Vrch
prospect conforms precisely to the porphyry gold model, exemplified by several
deposits, including Lobo, Marte and Refugio, in the Maricunga gold belt, high
Andes of northern Chile.
As such, the prospect is the gold-only end member of the porphyry
copper-molybdenum-gold spectrum. Viewed worldwide, porphyry gold deposits are
not common and have not been recognised previously in the Carpathians, although
at least two prospects are known in Turkey. There, the Kisladag
deposit, currently under development, is also of porphyry type, but assignable
to the somewhat different alkaline rock-hosted gold-molybdenum category.”
The
Chilean deposits are hosted in andesitic rocks similar to those at Biely Vrch.
Some further information on these deposits is provided towards the end of this
announcement.
Porphyry gold deposits differ to the more common porphyry
copper-gold deposits, and typically:
- are low-grade
(0.7g/t to 1.8g/t gold), multi-million
ounce deposits;
- are large (>100
million tonnes), bulk-mineable deposits;
- are metallurgically
simple and gold is recoverable via conventional heap leaching;
- occur in clusters of several similar
deposits; and
- contain very minor amounts of copper and molybdenum.
This announcement continues - view the full
announcment by clicking on the link below:
http://emed-mining.com/site/dmdocuments/EMED_Mining_Porphyry_Gold_BV_9July07.pdf
Thank you for your interest in EMED MIning. Visit www.emed-mining.com
for further information.
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