initial assay results confirm copper sulphide

INITIAL ASSAY RESULTS CONFIRM COPPER SULPHIDES AT MOUNT HARDY PROJECT, NT
Down-hole EM planned to locate main body of mineralisation after first hole returns intersections of up to 2.35% Cu
Key Points
• Laboratory assays from first RC drill-hole confirm copper sulphide mineralisation with associated lead and zinc at EM Target #1.

• EM Target #1 located directly beneath and down-plunge of outcropping copper mineralisation with copper oxide results up to 12.65% Cu.

• Overall copper sulphide intersection in the first hole of 12m @ 0.65% Cu, 0.39% Pb, 0.87% Zn from 117m down-hole, including:

? 2m @ 1.75% Cu, 0.33% Pb, 0.67% Zn from 125m;
? 1m @ 1.08% Cu, 0.12% Pb, 0.22% Zn from 120m;
? 3m @ 1.16% Cu, 0.59% Pb, 1.67% Zn from 191m;

including
1m @ 2.35% Cu, 1.16% Pb, 3.08% Zn from 192m
• Intersections interpreted to have clipped the main EM target. Down-hole EM (DHEM) planned to locate the main body of mineralisation, followed by diamond drilling.

• Sulphides intersected in all four EM anomalies drilled, with remaining assays expected within three weeks.

• Drill core from the historic Mount Hardy mine area being cut and sampled for laboratory assay – core contains visual zones of oxide copper mineralisation and fresh sulphide mineralisation.

• Mount Hardy expected to be a major project for TNG in 2013.
Australian resources company TNG Limited (ASX: TNG) is pleased to advise that its maiden reconnaissance drilling programme at the 100%-owned Mount Hardy Copper Project in the Northern Territory has been completed and has confirmed the presence of significant copper sulphide mineralisation beneath copper oxide outcrops.
Interpretation of the drill trace shows that the first Reverse Circulation (RC) drill-hole clipped the edges of the conductor plate at the first target, EM1, and down-hole EM (DHEM) will now be undertaken to confirm the location of the main body of mineralisation. A DHEM program together with follow-up diamond drilling is currently being planned.
The Company is pleased to advise that copper sulphides were recorded in all holes of this initial programme, which comprised a total of seven RC drill holes for 1,712 metres (see Table 1, Figure 1).

The drilling programme targeted four strong Electro-Magnetic (EM) targets identified from a helicopter-borne VTEM survey completed earlier this year (see Figure 1), which was followed up by a ground EM survey completed in August and 3D modelling.
The first Reverse Circulation drill hole, 12MHRC001, was drilled into a strong EM target, EM1 (see Figure 1), which is located at the base of a hill where outcropping copper mineralisation occurs (see plate 1).
Laboratory assay results received for drill hole 12MHRC001 (refer to Table 1), have returned an overall sulphide intersection of:

12m @ 0.65% Cu, 0.39% Pb, 0.87% Zn (combined metal content of 1.91%) from 117m including:
1m @ 1.08% Cu, 0.12% Pb, 0.22% Zn from 120m down-hole;
2m @ 1.75% Cu, 0.33% Pb, 0.67% Zn from 125m down-hole;
3m @ 1.16% Cu, 0.59% Pb, 1.67% Zn from 191m down-hole,

including
1m @ 2.35% Cu, 1.16% Pb and 3.08% Zn (combined metal content of 6.59%)


The results confirm that copper mineralisation extends from surface where outcropping copper mineralisation returned surface rock chip samples of up to 12.65% Cu (see ASX Release – 10 October 2012) to a depth of 120m, with massive and disseminated sulphides intersected where predicted by the EM model. One additional drill hole, 12MHRC007, was also drilled into this EM target. Results are awaited.

Samples have been submitted from all other drill holes for laboratory assay analysis. Results are expected in early December.