ASX RELEASE
RECENT CLAMPTON NORTH GOLD DISCOVERIES EXTENDED
Significant gold assay results from recent geochemical auger soil sampling.
Major extension of the area for proposed future Clampton North RAB drilling.
Peak soil gold result 746ppb Au in extensive geochemical anomalies over 4km x
1.5km, north of recent RAB drilling success.
The Directors of Polaris Metals NL (ASX: POL, “Polaris”) are pleased to announce significant
results from recently completed geochemical auger soil sampling on the Clampton North
prospect north of Southern Cross, Western Australia. The geochemical exploration program
targeted structural irregularities along the regional-scale shear zone at the western granite-
greenstone contact of the Marda Diemals greenstone belt (Clampton Fault - Figure 1).
Exploration of the Clampton North prospect, in particular rotary air blast (RAB) drilling of the
“Andromeda” auger soil gold anomaly (recently announced), indicates large-scale gold deposits
may exist beneath the lateritic and transported soil cover to the north of the historic Yarbu
workings. Polaris is earning 80% interest in the Clampton North prospect, with the remaining
20% held by Cape Lambert Iron Ore Ltd (formerly International Goldfields).
Systematic exploration of the area by Polaris to date has included geological mapping,
interpretation of aeromagnetic data to locate favourable structures, several phases of
geochemical auger soil sampling and RAB drilling. Previously undiscovered gold
mineralisation has been located by the RAB drilling.
The latest results of auger soil sampling indicate that gold mineralisation is more widespread
than previously thought. Potential new drilling targets are being outlined by the auger sampling
with several zones defined as >10ppb Au anomalies within an area 4km x 1.5km. One of the
anomalies peaks at 746ppb (0.7g/t Au). The location of the new anomalies is shown on the
attached Figure 1 and, in more detail, on Figure 2.
Exploration Significance of the Results
Regional fault structures at the western margin of the Marda Diemals greenstone belt share
similar geological characteristics with regional structures in the other Western Australia
greenstone belts where exploration is more advanced, and major gold deposits have been
discovered over the last 25 years.
Lateritic regolith sampling under a joint CSIRO/AMIRA geochemical project in the 1980s
showed that the Yarbu - Clampton North area stands out as an area of anomalous concentrations
of metals, including gold and pathfinder elements such as arsenic and tungsten. Polaris sees
considerable potential in the area for discovery of a major gold deposit beneath the extensive
soil and laterite cover that characterises the northwestern part of the Marda Diemals belt.
The presence of in situ gold mineralisation beneath soil cover at Clampton North was recently
confirmed by RAB drilling, and the latest geochemical results encourage persistence with more
drilling.
Future Plans
As recently announced, RAB drilling of the Andromeda auger soil gold anomaly encountered
significant new gold mineralisation and added to an understanding of the regolith, geology,
mineralisation and alteration in the Clampton North area.
The latest auger soil sampling results have indicated that gold mineralisation is more
widespread than previously thought, and have outlined areas for infill geochemical sampling to
define new drilling targets.
A follow up program of RAB drilling, planned for commencement in January 2006, will now be
extended to cover the new targets. The RAB drilling will be followed by deeper reverse
circulation (RC) drilling seeking grade enrichments and primary mineralisation at depth.
Might this be leading up to something company making or just playing in the dirt?
I'd like to see these guys pull off a successful hit.
Comments welcome.
Regards,
Snake13.
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ASX RELEASE RECENT CLAMPTON NORTH GOLD DISCOVERIES EXTENDED...
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