|
|
10 June, 2008
Media Release
High grade copper intersections
in western Victoria
10 June 2008
High grade copper mineralisation has been hit by Beaconsfield Gold NL (ASX: BCD) in the first diamond drill hole at its Thursday's Gossan prospect, part of the Stavely project which is south of the Grampians in western Victoria.
Drilling hit two high grade copper intervals. The first intersection of 7.7 metres (m) averaged 4.2% copper (Cu) from 94.7m down the hole. The second intersection of 9.5m averaged 3.0% Cu from 154.6m down the hole, including 1.0m at 10.5% Cu.
The results indicate significant potential for the prospect to host substantial tonnages of high-grade copper mineralisation with associated nickel, gold and silver values. Nickel assays were up to 0.4% Ni, gold assays were up to 2.0 g/t Au and silver assays were up to 131 g/t Ag.
Assays are awaited for additional prospective intervals in the first drill hole. Assays for the second drill hole in the two-hole program, which was collared 330 metres north west of the first hole, are also awaited.
Beaconsfield Gold chairman, Dr Denis Clarke said: "The intersection of high-grade primary copper with some associated nickel mineralisation on, and adjacent to, the serpentinite contact at our Stavely project indicates Beaconsfield Gold has made a very exciting discovery. We intend to drill test the whole of the extensive contact."
Previous explorers had established that the Stavely region contained large scale hydrothermal mineralising systems associated with gold and base metal mineralisation but this is the first time such major high grade copper intersections have been obtained by drilling. The high grade copper encountered in the first diamond hole occurs as primary chalcopyrite and is completely open at depth and along strike.
Beaconsfield Gold owns 100% of the Stavely project subject to a 3% net smelter royalty.
Beaconsfield Gold initially sought shallow, supergene copper mineralisation at the Thursday's Gossan prospect but encouraged by early results opted to test for deeper, primary nickel and copper mineralisation on the eastern edge of the supergene copper zone. The principal target was a serpentinite (ultramafic) contact interpreted from a detailed aeromagnetic survey carried out by Beaconsfield Gold.
The two-hole diamond program was assisted by an $80,000 grant from the Victorian Government to promote exploration in Victoria under the Rediscover Victoria Drilling ("RVD") initiative.
The attached figure shows the location of the two diamond holes drilled by Beaconsfield Gold (SNDD 01 and SNDD 02) in relation to the supergene copper zone. It also shows the Company's aeromagnetics image covering the Thursday's Gossan prospect and the serpentinite contact as interpreted from the aeromagnetics. The image indicates the contact of the serpentinite unit is well-defined. It represents a compelling target for step out resource drilling.
The Chief Executive Officer for Beaconsfield Gold, Bill Colvin said: "To get these wide, high grade copper intersections in our first deep diamond hole at Thursday's Gossan is very exciting. Allowing for the nickel, gold and silver, the in-ground total gold-equivalent values at current commodity prices are around 12 to 14 g/t gold.
"We have discovered that large structures associated with the serpentinite contact can host high grade copper mineralisation that could be amenable to both open pit and underground mining. The Company's immediate task will be to drill the one kilometre of serpentinite contact immediately east of the supergene copper zone at Thursday's Gossan. The bigger task will be to test all of the serpentinite contact which extends for over twenty kilometres on our Stavely tenement."
For further information contact:
Bill Colvin - Chief Executive Officer
t: 61-3-9909-7401
e: enquiries@beaconsfieldgold.com.au
w: www.beaconsfieldgold.com.au
PDF File (556K)
|
