High grade massive sulphide drill intercepts at TeutonicBore
3/21/02
PILBARA MINES LIMITED 2002-03-21 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
Pilbara Mines Limited (Pilbara) is pleased to announce new high-grade
diamond drilling intercepts associated with the discovery of
significant copper-zinc massive sulphide mineralisation at Teutonic
Bore "discovery hole" TBD 0202 (7.7 metres @ 4.28% copper, 16.05%
zinc, 173 g/t silver), announced 26 February2002.
A total of 3 holes have been drilled since Pilbara's February 26
release (TBD 0203, TBD 0204 and TBD 0205).
Two holes (TBD 0204 and TBD 0205) were drilled on the Jaguar massive
sulphide zone north and south along strike on 100 metre step-outs
from TBD 0202 within a single surface transient electromagnetic
anomaly of approximately 1800 meters of strike length.
Diamond drill hole TBD 0205, drilled 100 metres to the north of
discovery hole TBD 0202, collared at -65 degrees on section 5600ON
(AMG 6851997N, 319317E), intersected 6.2 metres of massive sulphides
in 2 zones from 465.15 metres to 467.90 metres grading 2.7% copper,
17% zinc and 123g/t silver and from 479.55 metres to 483.00 metres
grading 5.6% copper, 10% zinc 118g/t silver.
A significant zone of stringer mineralisation immediately below the
massive sulphide zone confirms the Jaguar deposit, as being a VMS
system that host's a package of mafic and hydrothermally altered
felsic volcanics similar to that of Normandy's Golden Grove
copper/zinc operation. The current base metal resources at Golden
Grove are the equivalent of 9 million ounces of gold or $5.6 Bil
(Normandy Annual Report 2001).
The detailed assays for TBD 0205 are summarized in the following
table:
FROM TO INT Cu Zn Pb Ag Au
(m) (m) (m) % % % g/t g/t
465.15 465.95 0.80 0.9 14.6 0.4 60 0.07
465.95 466.95 1.00 1.7 21.5 0.2 86 0.10
466.95 467.90 0.95 5.3 14.4 0.5 215 0.10
479.55 480.35 0.80 12.2 8.2 0.6 250 0.11
480.35 481.35 1.00 3.3 10.3 1.3 86 0.14
481.35 482.20 0.85 1.8 16.7 1.6 53 0.11
482.20 483.00 0.80 6.0 7.1 1.3 96 0.13
The intervals quoted are core length since true thickness cannot be
estimated with any degree of certainty at this time.
These new intercepts along with the significant stringer zone feeding
the massive sulphide system confirm a major new base metal mineral
discovery in Western Australia. With this confirmation comes a new
discovery name being the Jaguar Deposit. All future massive sulphide
zones will be named after other big cats.
Hole TBD 0204, drilled 100 metres to the south, collared at -65
degrees on section 55800N, intersected from 448.7m to 452.15m, 3.45m
(core length) of brecciated chert with stringer and semi-massive iron
sulphides with anomalous base/precious metal grades.
Hole TBD 0203 was drilled 10km south of TBD 0202 on an EM target. No
mineralization was intersected and the anomaly remains unexplained
pending further down-hole surveys.
Drilling continues with two diamond drill rigs to further delineate
on 100 metre centres up and down dip and along strike within the 1800
metre electromagnetic anomaly.
Pilbara holds a 100% interest in the JV whilst Inmet Mining
(Australia) Pty Ltd, is earning a 70% interest and is the manager of
the joint venture.
J M Davis Tel: +61 8 9322 9999
MANAGING DIRECTOR email: info@pilbaramines.com.au
Pilbara Mines Ltd Web: www.pilbaramines.com.au |
