NEWS
Barramundi Gold Ltd -
Barramundi's Longline drilling results
Barramundi Gold Ltd BAM
Shares issued 20,177,305 1999-11-08 close $0.09
Thursday Nov 11 1999
Mr. Ewan Stoddart reports
Barramundi Gold has received all assays from the latest drill program on the Longline gold property, Yukon, conducted pursuant to the agreement with Newmont Exploration of Canada Limited, a subsidiary of Newmont Mining Corporation. The property is located adjacent to the Alaska border in the heart of the Tintina gold belt, which hosts deposits such as Pogo and Fort Knox.
A total of 12 diamond drill holes was completed, with a combined length of just less than 2,100 metres. The holes targeted the geology and structure of two distinct anomaly types: combined arsenic and gold geochemical surface anomalies discovered during grid-based soil sampling in 1998 and deeper geophysical (induced polarization) anomalies found during an extensive gradient array IP survey this year.
These 12 widely spaced holes indicate the gold-bearing potential of the host granodiorite within the central portion of the property. High-grade quartz veining, similar to veining seen cutting the granodiorite on surface, was intersected at depth in holes LL99-4 (45.70 grams per tonne gold over 0.20 of a metre from 234.20 metres to 234.40 metres) and LL99-7 (17.21 g/t gold over 0.20 of a metre from 79.54 metres to 79.74 metres). Of greater geological significance, altered granodiorite, consisting of locally intense sericite, silica, and sulphides (arsenopyrite and pyrite) was intersected in several drill holes. These numerous alteration zones, of which only one is seen on surface, assay as high as 3.19 g/t gold over 0.27 of a metre and 2.23 g/t gold over 1.00 metre. These zones generally range between 0.10 and 0.30 g/t gold over widths of 10 to 20 centimetres and occur at an interval of one to two metres over several metres cored width. An average of 20 alteration zones occur per hole, with 52 found in LL99-10.
Hole From To Interval Au
m m m g/t
LL99-1 219.70 220.00 0.30 0.76
LL99-4 103.32 103.52 0.20 0.87
234.20 234.40 0.20 45.70
LL99-6 30.15 30.35 0.20 1.25
LL99-7 79.54 79.74 0.20 17.21
LL99-9 34.50 35.70 1.20 0.60
46.20 46.50 0.30 0.53
LL99-9 72.10 72.50 0.40 0.80
125.00 126.00 1.00 2.23
134.10 134.30 0.20 0.95
LL99-10 12.75 13.00 0.25 0.77
13.00 13.20 0.20 1.22
53.66 53.93 0.27 3.19
103.02 103.22 0.20 0.57
LL99-11 178.20 178.50 0.30 0.98
LL99-12 21.96 22.16 0.20 1.16
Barramundi has also received soil and stream sediment geochemistry results from an extensive regional program. The soil sampling outlined a large arsenic and gold surface anomaly located within the northern portion of the claim block adjacent to the Alaska border to the west. Arsenic values average greater than 100 parts per million with values commonly above 300 ppm. Gold reaches a maximum of 180 parts per billion. The anomaly is approximately five kilometres by two kilometres in area and is open to the east and west. Samples were taken at 100-metre spacings along 800-metre spaced lines oriented roughly north-south. A portion of this anomaly was followed up with a more detailed survey at a spacing of 100 metres along east-west lines spaced 200 metres apart. Values from this survey are consistent with the regional survey. The soil anomalies are reinforced by elevated stream sediment results.
In response to the regional soil geochemistry, Barramundi has staked an additional 112 claims in order to solidify its land position.
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