Taken from Stockhouse "x.pil" thread and dated January 18: (probably just another exploration venture, but you never know !)
PILBARA MINES LIMITED 2002-01-18 ASX-SIGNAL-G
Pilbara Mines Ltd (Pilbara) is pleased to announce that Inmet Mining (Australia) Pty Ltd (Inmet), Pilbara's JV partner at Teutonic Bore, commences a diamond drilling programme at the Teutonic Bore copper, zinc, silver/gold prospect, with rigs on site today, following grant of exploration title on 21st December 2001.
Diamond drilling is targeting a number of highly prospective electro-magnetic (EM) conductors, located along the re-interpreted strike, to the south of the old Teutonic Bore base metal mine (discovered in 1979). These FM conductors may represent repetitions of the Teutonic Bore copper, zinc, silver/gold mineralisation. It is common for massive sulphide deposits to occur in clusters (eg At Normandy Ltd's Golden Grove, operation in WA, where Gossan Oil and
Scuddles deposits were discovered between 1973 and 1979 and with new discoveries, Amity, Hougoumont and Catalpa announced during 2000/2001). The potential, therefore, to discover a new economic base metal resource at Teutonic Bore, using "modern" geophysical/ geochemical technology, is considered very good.
The programme consists of diamond drill holes to some 600 metres, followed by down-hole EM.
Inmet outlined a number of electro-magnetic (EM) targets using the Crone "Deep EM" system, which is capable of penetrating deeper than previous geophysical methods used in the Teutonic Bore area.
Inmet recently completed an extensive ground EM survey, covering more than 20 km of strike of highly prospective host lithologies, to the southern limit of Pilbara's leases.
Results will be reported as soon as information is available.
ASX Code: PIL |
