ASX and Media Release
4 September 2007
WARWICK RESOURCES
TARGETS HIGH GRADE GOLD AND COPPER EXTENSIONS
KEY POINTS
�
Aboriginal Heritage Clearances
completed
�
Drilling commences,
targeting extensions to high grade gold at Jimblebar
�
Five EM anomalies to be
targeted at Copper Range
�
Two further drilling
programmes scheduled during 2007
Diversified Pilbara explorer Warwick Resources Limited
(ASX:WRK) today announced it had commenced drilling at the company’s 100%
owned Jimblebar and Copper Range projects near Newman.
Following the recent completion of Aboriginal heritage
clearances, Warwick Resources is planning an aggressive campaign of drilling on
its gold, copper and other projects in the remaining half of 2007.
The current drilling program is designed to
follow up the success of the last programme, targeting extensions to high grade
gold and copper mineralisation. This will include:
� Seven holes at Jimblebar,
testing down-dip and strike extensions to high grade gold shoots identified at
the Sunny South prospect in the company’s last drilling program
� Seven holes over a 5km strike
length of the Copper
Range project, testing EM
targets and outcropping copper mineralisation
- Four holes at
Copper Knob prospect, to increase the strike length of copper
mineralisation drilled by Warwick
to 500m (currently 250m)
Results from drilling at
Jimblebar are expected near the end of September, and results from Copper Range
drilling due in early October.
Warwick Resources
Technical Director Bruce
McQuitty said well funded exploration is the key to drive shareholder value.
“Warwick’s focus is on exploration
excellence and we are in a fortunate position of advancing a number of highly
prospective targets following Aboriginal heritage clearances,” Mr
McQuitty said.
Jimbebar
Gold
At the Company’s
Jimblebar project, gold mineralisation occurs over a 2km strike length of the
Battery Fault system and host sequence of banded iron formation, mafic
volcanics and thin felsic intrusives (see Figure 1). Small scale underground
mining activities between 1930 and 1937 produced 3,670 ounces of gold, mostly
from the Shearers and Sunny South workings. Earlier this year, Warwick
Resources announced a high grade gold intersection of 1m @ 144g/t Au within an
interval of 8m @ 20.4g/t Au from 34m depth at the Sunny South prospect. The
Company intends to further explore this high grade intersection in the current
drill programme (see Figure 2).
Copper Range
The Company’s Copper Range
project is located 5-10km south of BHP Billiton’s large Jimblebar iron
ore mine. Warwick Resources controls a 9km strike length of the Copper Range unit - a sequence of felsic
volcanic rocks that hosts known copper prospects at Copper Knob, Copper Knob
East, Copper Hill and Alteration Hill (see Figure 1).
Warwick Resources is
exploring the project for large tonnage, disseminated copper mineralisation and
volcanogenic massive sulphide deposits (VMS). Moving loop and fixed loop
ground EM surveys were undertaken by a previous explorer in 2000-2001.
Processing of the survey data by Southern Geoscience Consultants resulted
in the identification of 16 discrete fixed loop EM conductors, only three of
which were drilled by diamond coring with RC precollars (see Figure 3). Only
the RC precollars to these holes were assayed at the time. The unsampled core
from the diamond tails has recently been located in Newman. The core, which
contains visible disseminated copper sulphides, will be logged and sampled in
coming months. Five of the remaining 13 untested EM anomalies will be drilled
in the current programme.
The Company also advises that it has
approvals in place for drilling programmes targeting channel iron, chromite and
nickel which are scheduled for October and November.
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
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 Jimblebar
iron-ore mine and south-west of Consolidated Minerals’ Coobina chromite
mine.
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.
Figure 1
Figure 2
Figure 3
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by
Purple Communications
Level
3, 28 Kings Park Road, WEST
PERTH WA 6005
Ph:
08 9485 1254 Fax: 08 6263 0455
purple@purplecom.com.au
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