ASX ANNOUNCEMENT
(ASX Code: JUT)
8 May 2007
THE EVELYN AND QUARMBY COPPER, ZINC
MINES AND EXPLORATORY GOLD RESULTS
Highlights
• Historical mining
at Evelyn (part of the Liberty-Indee Project) reports 59,845 ton of copper ore
at 17.89% Cu to be re-evaluated through drilling for copper, lead, zinc,
silver, gold and nickel
• Test alluvial
terraces and eroded mine tailings by drilling
• Determine if the
pyrrhotite bearing ultramafic Cu-Pb-Zn host rock forming the Evelyn and Quarmby
mines has potential for nickel
• EM geophysical
targets outlined adjacent to the Evelyn mine
• Follow up on
anomalous gold from regional sampling
Data Review for Liberty-Indee
Project
Jutt Holdings has
further reviewed data pertaining to its Liberty-Indee Project, with positive
findings.
Specifically, the
company has reviewed historical data and data from a late 2006 airborne
magnetic survey carried out over granted exploration licence E47/1209, covering
the historical Evelyn and Quarmby base metal mine sites at Liberty-Indee.
GeophysicalTargets
Historical ground
electromagnetic surveying has outlined two EM anomalies adjacent to the
existing Evelyn base metal mine site. One anomaly is 600 metres long,
coincident with the 400 metre long Evelyn workings. The second anomaly is
reportedly 900 metres long north-west and parallel to the Evelyn workings.
The 2006 airborne
magnetic survey to date has provided structural and mapping information.
Historical
Determinations
Drilling records of
the Evelyn mine has outlined pyrrhotite (an iron sulphide which is also known
to be related to nickel sulphides) in ultramafic rocks associated with the
Evelyn and Quarmby mines. Further drill work checking for nickel is required,
as nickel was not reported as being tested in past exploration efforts.
Past
explorer, Aquitaine Limited1 reported gossan
sampling from around the Evelyn workings returning values up to 33.5% Copper,
15% Lead, 490g/t Silver and 2.7% Zinc, which will require revalidating.
From around the
Quarmby workings Aquitaine Limited2 also reported
gossan samples up to 7% Copper, 0.5% Lead, 50 g/t Silver and 0.7% Zinc, which
will require revalidating.
Gold in stream
sediment samples was tested by Freeport Limited3 who defined
five gold areas with detectable visible gold including an area between the
Evelyn and Quarmby.
Ourwest Pty Limited
has reported five rock samples from thirty, which returned values greater than
1 g/t gold with a maximum value of 5.9 g/t gold, 40% Copper, 2.6% Lead, 36 g/t
Silver and 5.2% Zinc, confirming the base metal content of mine site rock types
and affirmed that gold, within the Evelyn – Quarmby region, also requires
future evaluation.
Future
Work Planned:
Jutt aims to drill
test the Evelyn and Quarmby mines and tailings potential for base and precious
metals. The ultramafic nature of rock types and pyrrhotite association with
such rocks promotes nickel to be sought. Proposed historical EM anomalies will
also be assessed by drilling for Cu, Pb, Zn, Au, Ag and Ni.
About Jutt Holdings
Jutt Holdings Limited (ASX:JUT) is a resources exploration company,
focused on its Onslow and Liberty-Indee Projects in the Pilbara region of
Western Australia, both of which it has the rights to acquire major
participating interests.
The Onslow Project consists of two granted Mining Leases over two
prospects, being the Range lead-silver prospect and the Turtle copper-lease
silver prospect.
The Liberty-Indee Project consists of two granted exploration
licences. A target generation study has identified four highly ranked targets
and another four targets prospective for gold mineralisation, one of which has
the potential for copper, lead, zinc and gold mineralisation.
Geophysical techniques and geological data have revealed new
potential in both the Onslow and Liberty-Indee Project areas, which the company
intends to explore through geophysics, drilling and geochemistry work.
Jutt Holdings also has plans to explore the Kooline Project for
high grade lead silver ore, and the Tarrawarra Application for silver and base
metals associated within a structural corridor.
Jutt
Holdings’ Board of Directors are experienced in corporate finance and
exploration and are well placed to maximise the potential in Jutt
Holdings’ portfolio.
Media
Contact:
Caroline Wringe,
Purple Communications, 08 9485 1254, 0409 201 432.
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