GLENGARRY RESOURCES LIMITED
ABN 40 009 468 099
Telephone: (08) 9322 4929 Facsimile: (08) 9322 5510
PO Box 975, West Perth, WA 6872
35 Havelock Street, West Perth, WA 6005
Website: www.glengarry.com.au Email: [email protected]
13 November 2006
ASX RELEASE
STRONG ZINC AND GOLD RECORDED AT GREENVALE
Results for recently completed infill soil sampling have confirmed the potential of the T3 and
Mt Remarkable prospects to host significant base metal and gold mineralisation, respectively.
Both prospects are situated in the southern part of Glengarry’s wholly owned Greenvale
Project (Figure 1) which is located approximately 200 kilometres west of Townsville in North
Queensland. Importantly, neither prospect has ever been tested by drilling.
T3 Prospect (zinc-copper-lead-silver)
In the T3 area, two zones of extensive, high order base metal and silver anomalism have been
defined (Figure 2). The T3 area is underlain by the southern strike extension of the geological
sequence which hosts Kagara Zinc’s Balcooma base metal mining operations approximately
70 kilometres to the northeast. The anomalism recorded at T3 is interpreted to be consistent
with the same style of mineralisation being mined by Kagara Zinc at Balcooma.
The southern zone at T3 recorded strong zinc (up to 1,255 ppm), lead (up to 924 ppm) and
silver (up to 1.7 g/t) anomalism in soil samples over a strike length of 1.3 kilometres.
Previous prospecting located a small outcrop (2 by 2 metres) containing primary sulphide
mineralisation on the western margin of the southern soil anomaly. Rock chip sampling from
this outcrop recorded up to 8% zinc, 11% lead and 52 g/t silver which, given the size of the
soil anomaly, indicates that there is good potential for the discovery of economic
mineralisation.
The northern zone at T3 recorded strong copper (up to 760 ppm), zinc (up to 575 ppm) and
silver (up to 3.4 g/t) anomalism in soil samples over a strike length of 500 metres. The
anomalous zone is largely obscured by scree and a mineralised source has not yet been
located; however, a recently flown HoistemTM electromagnetic geophysical survey has
defined a conductive zone immediately beneath the soil anomaly. The conductive zone
maybe due to massive base metal sulphides obscured by the shallow scree cover.
Mt Remarkable Prospect (gold)
The geological setting of Mt Remarkable is very similar to the 3.5 million ounce Mt Leyshon
gold deposit which is located near Charters Towers approximately 230 kilometres to the east
southeast. Exploration in the 1980’s and 1990’s recorded strongly anomalous gold from
creeks draining the Mt Remarkable prospect; however, the source of the anomalous gold was
never located.
Glengarry has completed two phases of soil sampling and has defined a zone of strong gold
anomalism over a 350 metre strike length (Figure 3). Multiple soil samples recorded values
greater than 0.1 g/t gold including a maximum value of 0.73 g/t. Black soils derived from
GLENGARRY RESOURCES LIMITED
ABN 40 009 468 099
Telephone: (08) 9322 4929 Facsimile: (08) 9322 5510
PO Box 975, West Perth, WA 6872
35 Havelock Street, West Perth, WA 6005
Website: www.glengarry.com.au Email: [email protected]
Tertiary basalts means that soil sampling west of the anomalous area was probably
ineffective.
The gold anomaly is coincident with the Burdekin River Fault, a major geological structure
that defines the southern margin of the Proterozoic Georgetown Inlier. The source of gold has
not yet been defined; however, previous reconnaissance has recorded sulphidic breccia float
in creeks that dissect the area. Similar material hosts the gold mineralisation at Mt Leyshon.
Drill testing of the T3 and Mt Remarkable soil anomalies will be completed as soon as a
suitable drill rig can be contracted.
Yours faithfully,
DAVID RICHARDS
Managing Director
The information in the report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by
David Richards who is a member of the Australian Institute of Geoscientists. David Richards is a full time employee of Glengarry Resources
Limited. David Richards 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. David Richards consents to the inclusion in the report of the matters
based on his information in the form and context in which it appears.
Figure 1: Greenvale Project
GLENGARRY RESOURCES LIMITED
ABN 40 009 468 099
Telephone: (08) 9322 4929 Facsimile: (08) 9322 5510
PO Box 975, West Perth, WA 6872
35 Havelock Street, West Perth, WA 6005
Website: www.glengarry.com.au Email: [email protected]
Figure 2: T3 Prospect – Soil sampling (black dots) showing anomalous areas
Figure 3: Mt Remarkable Prospect – Soil sampling (black dots) showing anomalous area
- Forums
- ASX - By Stock
- GGY
- strong zinc and gold recorded at greenvale
strong zinc and gold recorded at greenvale
Featured News
Add GGY (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online