ASX and MEDIA RELEASE
31
January 2008
AUGUR RETURNS PROMISING RESULTS FROM COLLERINA
Diversified minerals
explorer Augur Resources Limited (ASX:AUK) has received its first results from
drilling at the Collerina project in the Lachlan Fold Belt in central NSW, where
it has confirmed high grade nickel and cobalt potential.
The Company completed the
first stage of an Aircore drill program in December, aimed at further extending
and defining mineralisation to a JORC compliant resource.
Augur Managing Director
Josh Rogers said early drilling results at Collerina, which were targeting a 20km
ultramafic belt, had been extremely encouraging.
“The drilling
results include world class intersections of nickel and cobalt, with high grade
nickel detected from holes 600 metres apart suggesting a large and potentially
economic area of mineralisation,” Mr Rogers said.
“We are
systematically drilling the entire 20 km strike extent of ultramafics for lateritic
nickel and to check for sulphide nickel at depth,” Mr Rogers said.
The first stage of the
drilling program has targeted the main zone of laterite, with 65 holes drilled
for a total of 1,344m, and 296 samples sent for analysis. The early results
include:
Hole COAC 149 over the “TT2”
aeromagnetic anomaly:
·
24 - 63m,
39m of 1.55% Ni and including up to 0.09% Co, 38.4% Fe.
·
Hole had been terminated
at 63m
Hole COAC 146, 600m to SE
of COAC 149 on “TT2”:
·
30 -
42m, 12m at 0.6% Ni, 40% Fe
·
47 -
53m, 6m at 0.75% Ni
·
24 -
53m, 29m at 0.09% Co, 36.0% Fe
COAC 147 to SE of COAC
149, adjacent to COAC 146:
·
12 -
16m, 0.7% Ni
·
16 -
20m, 0.54% Ni
Further results from the
drilling program on TT2 will be reported soon.
The laterite at the TT2
aeromagnetic anomaly is developed in a zone 100 - 200m wide by 2.5km long.
Previous drilling at TT2 by Augur has produced results including 8 - 36m of
1.05% Ni + PGM’s; and 24 – 32m of 2.0% Ni, 0.2% Co + PGM’s.
The 20km long TT1 aeromagnetic
anomaly lies parallel to TT2 to the SW. Previous drilling has produced results
including 30m at 1.3% Ni, 0.7% Co, and at Yathella 795,000 tonnes of nickel
laterite mineralisation grading 0.7% Ni, 0.16% Co were estimated by an earlier
Company from 1499m of drilling. Results from recent drilling by Augur on this
main zone of laterite on TT1 are expected shortly.
The target for additional lateritic material has been
the main focus of the current drilling program. The results from hole 149,
which terminated in moderate to fresh ultramafics, means the Company will rethink
its strategy on other additional potential Ni and Co opportunities (ie primary
zone sulphide nickel and platinum ore bodies).
Augur also has a second 7000 meter drill program in
place, which is designed to define a JORC compliant resource at the Company’s
copper-gold-molybdenum Yeoval project.
For further
information, please contact:
Joshua
Rogers Warrick
Hazeldine
Managing Director Purple
Communications
Tel: +61 (0) 2 9267 8333 Tel:
+61 (0)8 9485 1254
Mob:
0417 944 616
The information in this report that relates to Exploration
Results, Mineral Resources or Ore
Reserves is based on information compiled by Robert Pyper, who is Fellow of the
Australasian Institute of Mining and Metallurgy. Robert Pyper has sufficient
experience which is relevant to the style of mineralisation and type of deposit
under consideration and to the activity which he is 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.’ R Pyper consents to the inclusion in the report of the matter
based on his information in the form and context in which it appears.
Augur’s
projects
About Augur
Augur is a NSW-based
resource development company, with a focus on gold, copper and nickel projects
within the Lachlan Fold Belt in western NSW. The region is a known producing
area, especially for gold and copper, zinc.
Augur is drilling to
define known resources to JORC compliance.
The Company has a highly
experienced Board and Management team, which includes extensive experience in
NSW and porphyry copper-gold exploration.
For more information, please visit www.augur.com.au
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