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Home Investors ASX Announcements Visual Drilling Results from hole MRN13001, Maronan Project, NW Queensland
Visual Drilling Results from hole MRN13001, Maronan Project, NW Queensland

Step-out drill hole MRN13001 has intersected a single 2.9 metre down-hole intercept of strong banded lead sulphide mineralisation in the lower carbonate position and rare visible lead mineralisation in the upper banded carbonate zone.  The carbonate-lead sulphide horizons are thinner and less frequent compared with MRN12004B and truncated by a 114 metre interval of strong iron sulphide veining which contains local zones of strong copper. The overprinting iron and copper sulphide veining appears to have impacted on the continuity of the earlier formed lead and silver mineralisation.

Processing of the recently completed detailed gravity and ground magnetic surveys has highlighted a density anomaly at the hinge zone to the northern fold structure worthy of further investigation.  This anomaly is located in an area where shallow historic drilling intersected wide zones of highly anomalous gold and arsenic values such as 42 metres at 1.0g/t gold, 520g/t arsenic and 82 metres at 0.7g/t gold and 3600 g/t arsenic including 40 metres at 1.1g/t gold, 3200g/t arsenic.  Although still to be tested, this broad zone of anomalous gold and arsenic is interpreted as possible halo mineralisation above stronger copper and gold mineralisation at depth.

Also of significance, assaying from the broad zone of iron and copper sulphide veining in drill hole MRN12004B returned 18.7 metres at 1.6% copper, 0.8g/t gold and 35g/t silver including 5.3 metres at 2.4% copper and 1.4g/t gold and 61g/t silver.  The pending assay results from MRN13001 are expected to define similar broad intervals of copper mineralisation. Strong copper sulphide veining can now be traced along strike for about 300 metres.  It is hoped this zone links at depth with the northern hinge zone where reactive iron-rich rocks, ideal for precipitation of copper sulphides, are structurally thickened.

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