those results where shocking, would be a little carefuly buying into this rally, looks a bit set up.
Gold intersections at Plumridge extend mineralized zones
ANNOUNCEMENT 19 May 2008
· Assays from aircore drilling of the Northern Calcrete anomaly indicates significant
supergene gold mineralisation over >9 km of strike, herein named the ‘Corvette
Prospect’.
· At least two sub-parallel zones of mineralisation are indicated, which correlate
with structures recognizable in magnetic data.
· Mineralisation remains open along strike in both directions.
Mineral Sands Ltd (ASX:MSN) is pleased to announce further positive results and an extension of
the gold mineralisation from its first pass aircore drilling on the company’s Plumridge project,
within the Tropicana Gold Belt.
The Company has received the remaining assays from 49 holes drilled on the project’s Northern
Calcrete Gold anomaly, results from which have extended the length of supergene mineralisation
intersected to more than 9 km.
The first pass program included 119 holes for 4513 metres, drilled on east-west lines spaced 1km
apart.
Sixteen holes recorded intersections >0.1 g/t Au, and these occur on every line completed. These
levels of enrichment occur near the base of complete oxidation and are typical of responses
associated with remobilisation of gold from bedrock lodes subjected to deep weathering.
With the presence of a bedrock gold system indicated, the northern anomaly has now been
named the Corvette Prospect.
Mineral Sands Managing Director Patrick McManus said the results were highly encouraging, and
reaffirmed the Company’s focus on its highly prospective gold project.
“We are particularly excited by these early stage results, and intend to immediately progress our
drilling program on the project to further define mineralisation,” he said.
“Our immediate targets will be both the Corvette Prospect, and the major southern anomaly, but
we have also identified a number of other anomalies across the 2,000 sq. km project that warrant
follow-up,” he said.
Mr McManus said the Plumridge project was located in Australia’s newest gold belt, which hosts
the 4 million ounce Tropicana – Havana gold deposit.
Assays from the first stage of the drilling program were announced on 1 May 2008 and reported
significant supergene gold mineralisation on the southern part of the Corvette Prospect.
The best intersection recorded was 3m at 0.64 g/t Au (647 ppb Au) in hole PLAC 264. This is
believed to correlate along strike with intersections in holes on three other 1 km spaced lines,
including hole PLAC 181, which recorded 6m at 0.31 g/t Au (311 ppb Au), including 3m at 0.41
g/t Au (410 ppb Au). The gold distribution indicates there are at least two, and possibly three
sub-parallel zones of mineralisation which correlate with structures evident in regional magnetic
data.
Significant sulphides and alteration in basement gneisses were logged on each drill traverse, in
zones up to several hundreds of metres wide, closely associated with the supergene gold
enrichments, over the entire 2 km width of drilling coverage.
Figure 1 shows the location of the Plumridge project in the Tropicana Gold Belt, drillholes, and
the location of anomalous intersectiions at the Corvette Prospect, together with the local magnetic
imagery.
Figures 2 and 3 are cross sections (including the best gold intersections) illustrating the
supergene style of gold enrichment near the base of drilling.
BACKGROUND
Mineral Sands Ltd holds the Plumridge Project exploration licences, totalling 2,220 sq.km. The
project is situated on the Albany Fraser Province and the reworked transitional margin of the
Yilgarn Block, which hosts the 4 Moz Tropicana-Havana gold project discovered by the Anglogold
Ashanti/Independence JV partners,
The company initiated first-pass regional Au calcrete sampling on the Plumridge Project in July
2007. Sampling calcrete for low-levels of gold (to ppb levels) is an established method of
targeting buried gold mineralization.
This programme identified the Northern and Southern Anomaly areas, as well as 57 other
anomalies warranting follow-up sampling.
FUTURE WORK
The first pass drilling program was completed at 1 km line spacing, and 100 to 400m hole
spacings. It is planned to infill this aircore drilling coverage to outline supergene target zones for
deeper RC drill tests of the primary sources of gold mineralisation. The infill aircore program will
commence in May 2008.
Figure 1
Figures 2 & 3
Authorised by:
Patrick McManus
Managing Director
DATE: 19th May 2008
The information in this report that relates to Exploration Results is based on information compiled by Mr Mark Teakle, who
is a Member of the Australasian Institute of Mining and Metallurgy. Mr Teakle is an Executive Director of Mineral Sands
Ltd and has sufficient relevant experience to qualify as a Competent Person as defined in the 2004 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral resources and Ore Reserves. Mr Teakle consents to the
inclusion in the report of the matters based on his information in the form and context in which it appears.
About Mineral Sands Limited
Mineral Sands Limited (“Minsands”) has established a portfolio of 100% owned projects covering approximately
20,000km2 across Australia, in addition it has entered into Joint Ventures where it sees opportunities to increase
value to shareholders.
Minsands primary project is Plumridge, which is a developing gold project in a prospective location in the Albany
Fraser Block. Minsands also has a number of Mineral Sands projects under investigation in WA, Victoria,
Queensland and NSW.
Minsand’s acquisition strategy has been to secure advanced project areas containing previously identified
resources that exhibit potentially favourable mining and processing options and good infrastructure. In addition,
exploration projects have been secured in provinces with potential for high value deposits.
MSN
mineral sands limited
