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Lindian Resources Limited (“Lindian”) is extremely pleased to
announce that the Company has received further results for drilling
of the new discovery of porphyry style copper±silver±gold on the
Masapelid Project. The results further confirm the presence of
porphyry style copper mineralisation at the recently discovered
Layab Porphyry (Figures 1 and 2).
Assay results for a second diamond drill hole BML-028 targeted to
test the easternmost extent of the Manuel Vein System (MVS) has
confirmed a broad zone of porphyry style copper mineralisation with
associated low levels of gold and silver mineralisation at the Layab
Porphyry (Figure 3). As with the discovery hole BML-027, the second
drill on this prospect (BML-028) has not encountered porphyry rock
types as yet, however, extensive “porphyry style” copper±silver±gold
mineralisation has been intersected. This drill hole confirms that the
style and extent of mineralisation is very similar to that recorded in
drilling of the Sabang Prospect on the southern portion of Masapelid
Island.
Results obtained from hole BML-028 (Figure 4) are:
135.00 metres from 4.00 metres at 0.21% copper, 0.26g/t
silver and 0.07g/t gold including:
11.00 metres from 19.00 metres at 0.22%
copper, 0.38g/t silver and 0.16g/t gold.
11.00 metres from 32.00 metres at 0.27%
copper, 0.11g/t silver and 0.11g/t.
13.00 metres from 84.00 metres at 0.28%
copper, 0.56g/t silver and 0.12g/t gold.
7.00 metres from 131.00 metres at 0.40%
copper, 0.50g/t silver and 0.04g/t gold.
LINDIAN RESOURCES LIMITED
The assay results for BML-028 and alteration mineralogy noted in that
hole further suggests that the low-grade tenor of copper and precious
metals is related acid leaching of copper (and other metals) in the near
surface profile of a porphyry copper±silver±gold system. In this context,
the results for BML-028 and the discovery drill hole BML-027 are highly
significant and demonstrate the broader mineralisation present on the
Masapelid Project.
The Company is now considering follow up exploration to further
evaluate this new and exciting discovery.
Steve Leithead
Managing Director