juicy....

ASX Announcement 15 May 2007
A.C.N. 059 326 519
Level 2, BGC Centre
28 The Esplanade
Perth WA 6000
Phone:
+61 8 9322 6045
Fax:
+61 8 9481 5557
Email: [email protected]
Redbank Copper Project:
– Diamond Drilling at Redbank (Mar 2007)
Enquiries regarding this
announcement can be directed to
either:
Mr Jerome G Vitale
Managing Director and
Chief Executive Officer
or
Dr D James Searle
Executive Director
or
Ms Susan J Field
Executive Director
Phone +61 8 9322 6045
ASX Code: “RBM”
“RBMO”
e-lodgement, 6 Pages
15 May 2007
New Breccia Pipe: 64m at 2.5% Copper
from Surface; Sulphides at Depth
Redbank Mines Limited (ASX: “RBM”) is pleased to report
the initial results from RC drilling completed in April 2007 at
the historical Redbank prospect, henceforth called the
“Redbank Target Area”. Results have been received for
the first 4 holes as shown in Table 1. RC Hole RB07- 4
returned 64m at 2.5% copper from surface and logging of
diamond core from Hole RB07- 8 shows evidence of
sulphide mineralization from a vertical depth of 200
metres.
Table 1 also includes results from diamond core assays from
hole RDH 33 which returned 77 metres at 2.6% Cu from
surface. This hole was drilled in the 1970’s but has
previously not been reported by RBM due to uncertainty of
its collar position, now clarified by recent field work
completed by the Company.
The context and significance of results from hole RDH 33
and other historical holes that have been previously reported
by RBM, namely RDH 40 and RDH 44 which returned 30.5
metres at 2.4% Cu from surface and 24.5 metres at 2.3%
Cu from 6 metres respectively, are now apparent in terms of
the definition of a new breccia pipe at the Redbank Target
Area (refer Figures 1 and 2 and note 2 to Table 1).
The historical surface workings at the Redbank Target Area
are at the site of small scale very high grade near surface
mining activities carried out in the first half of the 20th
Century. A limited amount of shallow, mainly percussion
drilling was carried out in the vicinity of the old workings by a
subsidiary of Newmont in the 1970’s.
The objective of the March/April 2007 drilling carried out by
RBM was to test for depth extensions to the near surface
historical workings and to establish if they were the surface
expression of another deep seated copper mineralised
breccia pipe similar to the copper rich pipes at Sandy Flat
and Bluff. The Redbank Target Area is outside the current
JORC classified Mineral Resource inventory previously
published for the Redbank Copper Project of 4.23 million
tonnes at 1.5% Cu for 65,000 tonnes of contained tonnes
of copper (refer 2006 Annual report at page 6).
Redbank Mines Limited
ASX Announcement 15 May 2007 2
Core from Redbank drill hole RB07-8 at 280.7m down hole, showing brecciation, calcite veining
and sulphides, about 1.5 times magnification.
RB07-8 Tray 44 from 277.18-281.78 Showing extensive pipe style brecciation, calcite veining with
sulphides.
The assay results to date in conjunction with the drill hole logging by the Company’s geologists clearly
demonstrate that the surface workings at the Redbank prospect are the surface expression of a deep
seated mineralised breccia pipe. The attitude of the pipe dips steeply to the south and consequently was
just missed by RBM’s holes RB07-1, 2 and 3, but intersected by RB07-4 reported above (refer section at
Figure1). These results are consistent with the shallow 1970’s drilling.
A broad intersection of brecciation and associated sulphides is evident from examination of the deep
diamond core from hole RB07- 8 completed in April 2007. This suggests the mineralised breccia pipe
either becomes vertical or near vertical down at a vertical depth from 200 to 250m. Assays from this drill
hole and the remaining other 2 RC drill holes at the Redbank Target Area are still pending.
Redbank Mines Limited
ASX Announcement 15 May 2007 3
Further results from the Azurite (15 RC holes and 1 Diamond hole) and Punchbowl (3 RC Holes and One
Diamond hole) areas drilled in March/April 2007 are also pending. RC results are anticipated during the
course of the next 2-3 weeks and diamond core results expected shortly after.
Yours faithfully
Redbank Mines Limited
Jerome G Vitale
Managing Director
Note
The information contained in this announcement, insofar as it relates to the current drilling, is sourced from information compiled by Dr D
James Searle, B.Sc, PhD, MAusIMM,. Dr Searle is an Executive Director of Redbank Mines Limited and has sufficient expertise 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 ‘Australasian Code for Reporting of Mineral Resources and Reserves’. Dr Searle has approved the
inclusion of the statement in the form and context which it appears.
Redbank Mines Limited
ASX Announcement 15 May 2007 4
Figure 1
Redbank Mines Limited
ASX Announcement 15 May 2007 5
Figure 2
Redbank Mines Limited
ASX Announcement 15 May 2007 6
Table 1: Significant (>0.5% Cu) reverse circulation drill hole intercepts received to date from the
Redbank Workings Target. Further results are pending.
Hole Northing Easting Dec O Az O From m Intercept
m
Cu %
RB07-1 8098868 793123.6 60 180 58 1.0 0.61
70 1.0 0.89
75 1.0 0.64
79 1.0 0.65
84 1.0 0.57
RB07-2 8098844 793087 60 090 14 1.0 0.50
RB07-3 8098819 793083.6 60 090 12 2.0 1.08
RB07-4 8098803 793118.2 60 000 0 64.0 2.52
RDH-33 1 8098847 793125.1 90 0 77.0 2.60
RDH-40 2 8098804 793127 90 0 30.5 2.40
RDH-44 2 8098794 793127 90 6 24.5 2.30
Note:
1 RDH33 is a rotary drill hole (diamond) drilled in the 1970’s - not previously reported by Redbank Mines
Limited because until now its position was uncertain.
2 RDH40 and RDH44 are rotary percussion drill holes drilled in the 1970’s - previously reported at page 7 on
2006 Annual Report as AZDH40 and AZDH44 respectively, with mineralised intercepts calculated over
slightly different intervals.