re: mrx looks bettter and better high grade coppe
17 November 2003
, ANNOUNCEMENT High Grade Copper Reported in Diamond Core Drilling at White Range Matrix Metals Limited is pleased to announce the results from a metallurgical diamond core drilling program completed at the White Range project "Greenmount" deposit. This diamond drilling program "twinned" a previously recorded Reverse Circulation (RC) program, the results of which were used in the estimation of the current resource. The assay results received late on Friday 14 November 2003, report significantly higher grade copper intercepts in four out of the six holes drilled in this program.
The Company will now investigate the significance of the higher grades of the diamond core drill holes.
The following intercepts are reported for the six hole program: DIAMOND CORE INTERCEPTS GDHM 09 22.7m @ 3.62 % Cu incl. 5.1m @ 3.82% Cu and 9.2m @ 5.67% Cu and 0.6m @ 24.11% Cu GDHM 07 22.8m @ 1.75 % Cu GDHM 11 32.6m @ 1.52 % Cu GDHM 10 9.3m @ 1.46 % Cu GDHM 08 19.6m @ 1.42 % Cu GDHM 06 16.0m @ 1.00 % Cu
The diamond drilling program was primarily designed to recover samples for metallurgical leach column testwork purposes and to provide additional geological information from within the previously defined Greenmount resource area. The Greenmount resource currently comprises 7.3 million J:\Company Sec\ASX\Company Announcements\Greenmount 171103.doc 2tonnes @ 1.0 % copper. The six hole program twinned previously drilled reverse circulation holes (RC) with a comparison of the two programs presented below.
DIAMOND CORE INTERCEPTS PREVIOUS RC INTERCEPTS 22.7m @ 3.62 % Cu 20.0m @ 2.18 % Cu 22.8m @ 1.75 % Cu 25.0m @ 1.26 % Cu 32.6m @ 1.52 % Cu 33.0m @ 1.74 % Cu 9.3m @ 1.46 % Cu 12.0m @ 1.39 % Cu 19.6m @ 1.42 % Cu 21.0m @ 1.26 % Cu 16.0m @ 1.00 % Cu 19.0m @ 1.56 % Cu
High grade mineralisation is strongly and consistently developed, as shown by the following sequential values from the GDHM09 intersection. From To Interval Cu % 24.0 25.4 1.4 0.63 25.4 26.4 1.0 0.69 26.4 27.3 0.9 3.18 27.3 28.6 1.3 3.16 28.6 30.0 1.4 4.19 30.0 30.8 0.8 4.87 30.8 31.5 0.7 3.95 31.5 32.5 1.0 1.92 32.5 33.5 1.0 1.40 33.5 33.9 0.4 1.53 33.9 35.0 1.1 1.12 35.0 36.0 1.0 1.16 36.0 36.6 0.6 1.99 36.6 37.6 1.0 4.28 37.6 38.6 1.0 7.64 38.6 39.6 1.0 5.23 39.6 41.0 1.4 4.08 41.0 41.6 0.6 24.11 41.6 42.6 1.0 1.94 42.6 43.6 1.0 2.17 43.6 44.6 1.0 5.10 44.6 45.8 1.2 4.71 45.8 46.7 0.9 1.62 Full details of the diamond drill hole intercepts are presented in Table 1, details of the previous RC holes are presented in Table 2 with all drill hole details and locations presented in Table 3. J:\Company Sec\ASX\Company Announcements\Greenmount 171103.doc 3
Mt Watson Drilling Proceeds The Company also advises that a program of RC drilling commenced at the Mt Watson deposit over the weekend.
MRX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
