G'day all-
For comparison -below Bumblebee results versus latest multi-element discovery
at the Grapple Prospect-south west of Bumblebee seen lower on page.
IGO has previously intersected Volcanogenic Massive Sulphide (“VMS”)
style mineralisation at Bumblebee, this target was identified through soil geochemistry
and ground Moving Loop Electromagnetic (“MLEM”)surveys.
Massive differential in total thickness/width of intercepts & therefore volumes is
the first slap of reality .
Bumblebee's significant drill results from the program (downhole width) included.
2m @ 1.3g/t Au, 34.6g/t Ag, 7.0% Cu, 1.6% Zn, 1.3% Pb and 0.09% Co
from 29m (oxide).
7m @ 3.3g/t Au, 37.7g/t Ag, 3.2% Cu, 1.3% Zn, 0.9% Pb and 0.08% Co -from 35m supergene).
5m @ 2.4g/t Au, 12.4g/t Ag, 1.4% Cu, 1.0% Zn, 0.2% Pb and 0.1% Co- from 56m (fresh rock).
- IGO Geo conclusions/assumptions-
- The combination of the multi-element metal association, the high-grade metamorphic rocks and presence of magnetite is similar to distal signatures of Cloncurry-style iron oxide copper gold (IOCG)- deposits.
- (e.g. Ernest Henry or Osborne copper-gold mines in Queensland).
The Lake Mackay Project is located 400km northwest of Alice Springs, adjacent to the Western
Australian border, and
includes 7,200 square kilometres of exploration licences and
12,130 square kilometres of exploration licence applications, including recent
applications in the DuFaur area.
The area includes sparsely explored Proterozoic age metasediments intruded by granitic
and mafic rocks beneath varying thickness of aeolian sand cover and is considered
prospective for gold, base metals and nickel sulphide mineralisation.
An-aeromagnetic survey over the whole area 51,800 line km's -to identify prospective
structures and iron oxide alteration has since been 88% completed-results eagerly awaited.
Only couple day's ago-ASX ANNOUNCEMENT-
14 November 2016
Drilling Discovers Mineralisation at the Grapple Prospect on Lake Mackay JV
Five RC holes completed-Two of initial three holes intersected mineralisation.
Hole 16GRRC003 -
9m at 3.26% copper, 1.8g/t gold,49.1g/t silver, 3.63% zinc, 1.09% lead and 0.26% cobalt.
10m at 1.05%copper, 1.6g p/t gold,50.1gp/t silver,2.55%zinc,1.71%lead & 0.09% cobalt.
5m at 4.61%copper,1.1gp/t gold,40.9gp/t silver, 4.61% zinc, 0.67%lead & 0.25% cobalt.
Then moving 200mts to the East another D.D hole- 16GRRC001 was put down &
interpreted to have intersected the same zone of mineralisation in oxide,
the size of the identified MLEM -Plate Eastern one appears to be some 700mts in length.
This drill programs remaining additional 9 drilling holes are testing Prowl and Springer Prospects,
characterised as gold dominant as indicated by regional soil geochemical anomalies,
limited air core drilling conducted prior on these prospects returned >1.0g/t intersections.
Drilling is scheduled to be completed in November 2016 and assay results returning
during December 2016.
This multi-element commercial grade with thick intercepts identified through only first pass
limited drilling that appears to be potentially Massive given the depth of intercepts & the
MLEM identified plate's sizes exceeds ones most optimistic hopes at this early stage.
I can see why the market is acquiring positions in ABU, can only imagine the markets
reaction should the Prowl and Springer prospects that are determined as gold
dominant also turn out to be multi-element thick intersection & high commercial grades.
As stated previously as these results come in it is supporting the probability of this
becoming a whole new mineral district & should this eventuate -Wow !!!!!!!!!!!!
The markets reaction thus far is telling no need to listen carefully as its
actually yelling!!!!!
For those experienced investors your likely already aware.
For those relatively new to investing prior to deploying your capital please do some
of your own research & form your own more informed opinions.
I have done extensive additional research as have others much has been posted
on HOT COPPER -please verify yourself all information read on H.C.
IMO-This baby going to crank & rock investors worlds!!!!!!!!!
gltah-salt
(20min delay)