annoucement

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]
4th July 2007
ASX RELEASE
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
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.
Page 2
Figure 1: Greenvale Project – Location Plan and Prospects
Figure 2: Maitland prospect area showing untested geochemical targets