ADDITIONAL COPPER TARGETS DEFINED AT MAITLAND Glengarry Resources Limited is pleased to announce that results from recent geochemical exploration at the Maitland copper-molybdenum prospect have confirmed the potential for at least two additional zones of mineralisation. The Maitland prospect is situated within Glengarry’s wholly owned Greenvale Project (Figure 1) which is located approximately 200 kilometres west of Townsville in North Queensland. The geochemical exploration comprised separate programs of soil sampling and shallow drilling (Figure 2). The soil sampling program, carried out immediately northwest of the inferred copper resource at Maitland (Figure 2), has delineated a 1 kilometre long, northeast trending, plus 100 ppm copper anomaly with values up to 832 ppm copper. The soil anomaly increases in tenor towards the southwest, with the highest values recorded on the southern most line. Additional soil sampling is planned to define the extent of this potentially mineralised zone. In a separate program, a line of 7 shallow drill holes (average depth 18 metres) spaced 50 metres apart was drilled across the alluvial flats approximately 1.3 kilometres south of the known mineralisation at Maitland (Figure 2). The alluvial flats comprise transported sediments approximately 6 metres thick which obscure the prospective bedrock. Auger sampling carried out in the 1960s indicated anomalous copper values at the interface between the transported sediments and bedrock. This anomalism was confirmed by Glengarry’s recent drilling which intersected up to 503 ppm copper. Anomalous silver (up to 0.9 ppm), lead (up to 203 ppm) and antimony (up to 229 ppm) were also recorded by the drill hole immediately west of the anomalous copper zone. Elevated metal values were recorded by 3 adjacent holes which define a 150 metre wide anomalous zone that may represent the halo to base metal mineralisation at depth. The anomalous zone is open along strike and additional shallow drilling will be carried out to define the extents of this new target area. A recently completed drilling program on the existing inferred copper resource returned the best ever intersection reported at Maitland of 57 metres @ 2.58% copper from 75 metres (including 12 metres @ 6.39% copper from 105 metres) and an updated indicated resource is currently being calculated. High grade molybdenum (up to 6 metres @ 0.49%) which has the potential to enhance the economics of a future operation has also been intersected at Maitland. The latest results from Maitland are highly encouraging and the planned follow up exploration will be completed as soon as possible. DAVID RICHARDS Managing Director
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