www.juttholdings.com
Resource Drilling to begin at the Onslow Project
·
7,000 metres of resource
drilling is to commence at the end of October to infill and extend high-grade copper-lead
mineralisation at Jutt's Onslow Project in the West
Pilbara.
·
Resource estimates to be
undertaken on its Range and Turtle projects following this phase of drilling.
A drilling contract has
been signed to begin diamond core drilling at and around the historic Range
(Lead-Silver) and Turtle (Copper-Lead-Gold) mines at the Company's
Onslow Project, to start on or around 28th October 2007.
The drilling is to
determine a JORC compliant resource at the historic Range and Turtle mines in
addition to targeting electromagnetic targets which have outlined a wider area
for mineralisation around both projects.
Managing Director, Ayaz
Khan said, “Jutt is extremely optimistic about the extension
possibilities of the mineralisation after the recent EM survey showed a
potential doubling of the lateral extent of the mineralisation on trend with
the historic workings.”
Analysis of
random rock mullock samples from the historic Range mine confirmed earlier
reported mineralisation including:
Sample No J2601: Lead 33.0%, Copper 0.4%, Silver
3.6oz/t
Analysis of
random rock mullock samples from historic Turtle mine confirmed earlier
reported mineralisation up including:
Sample No J2501: Copper 16.8%, Silver 2.3oz/t,
Lead 0.2%, Gold 0.5 g/t
Sample No J2502: Copper 13.9%, Silver 7.4oz/t,
Lead 4.2%, Gold 1.2 g/t
The Company expects
assay results from the drilling to be available in the fourth quarter of 2007.
Background:
The Onslow project
comprises two granted mining leases over the historic Range and Turtle mines.
An airborne
electromagnetic (EM) survey completed in June 2007 identified additional
drilling targets over and above the historic drilled mineralisation.
Range Lead-Silver Project:
Drilling will target a potential
doubling of the extension of the mineralisation to 700 metres. At the Range
deposit past drilling has identified a principal lode system among a
disseminated ore zone up to 9 metres wide to 100 metres depth along a 340 metre
strike length.
Jutt’s geophysical
contractor Geoforce Pty Ltd (Geoforce) has recommend that drill holes are
targeted to intersect a south dipping conductor between 50m and 100m below
surface along its 700m strike length.
*Internal red squares
indicate EM anomalies (each grid square = 0.5km)
Turtle Copper-Lead-Silver Project:
Drilling will test the
airborne EM identified potential extension of the Turtle mineralisation from
210 metres to 1,000 metres. Geoforce’s recent airborne EM survey results
outlined approximately 1,000 metres of WSE-ENE arcuate electromagnetic response
of varying strength, which may indicate the presence of disseminated sulphides.
Jutt is confident that it
will outline a resource statement in 2007-2008 and is working towards making a
decision to mine in 2008, subject to the results of drilling.
*Internal red squares
indicate EM anomalies (each grid square = 0.5km)
About
Jutt Holdings
Jutt Holdings Limited
(ASX:JUT) is an Australian listed resources exploration company, focused on
several base and precious metals exploration projects in Western Australia.
Jutt Holdings has the
rights to acquire major participating interests in two projects in the Pilbara
region of Western Australia,
the Onslow and Liberty-Indee Projects. The Onslow Project consists of two
granted Mining Leases over two prospects, being the Range lead-silver prospect
and the Turtle copper-lead-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 including one that has the potential for copper, lead, zinc
and gold mineralisation.
The company has recently completed a 2,051 line kilometre
electromagnetic survey over the Tay-Munglinup Nickel exploration tenements in
the Ravensthorpe area of WA. Jutt can earn an initial 60% interest in three
granted exploration licences, covering 540 square kilometres.
Visit: www.juttholdings.com
The information in
this announcement that relates to exploration results is based on information
compiled by Jutt Holdings Limited and is based on information provided by Mr
Cyril Leslie Geach BSc (Hons-Geology) who is a member of the Australian
Institute of Geoscientists. Mr Geach 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 “Australian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves”. Mr Geach is an
Executive Officer of Jutt Holdings Limited and consents to the inclusion in the
announcement of the matters based on his information in the form and content in
which it appears
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