Ramelius Resources hits more gold at Water Tank Hill

THE DRILL SERGEANT: Ramelius Resources has intersected further high-grade gold mineralisation by way of RC and diamond drilling being carried out at the company’s Water Tank Hill prospect.

The Water Tank Hill project is located at the company’s 100 per cent-owned Mt Magnet mine in the Murchison Province of Western Australia.

Results received from drilling conducted in December 2012 include:

–    9.20 metres at 13.0 grams per tonne gold from 250.5 metres, including 5 metres at 22.90 grams per tonne gold;

–    19m at 6.53g/t gold from 194m, including 5m at 17.8g/t gold;

–    24m at 13.62g/t gold from 289m, including 22m at 14.45g/t gold; and

–    26m at 5.28g/t gold from 253m, including 6m at 18.9g/t gold.

The holes in question were drilled below the Water Tank Hill pit, located four kilometres south-south-east of the company’s Checkers Mill at Mt Magnet and only 250m west of the existing St George underground mine decline, which was mined between 2005 and 2007.

“Gold mineralisation at Water Tank Hill is associated with brecciated and sulphidic banded iron formation (BIF) sequences,” Ramelius Resources said in its ASX announcement.

“The gold mineralisation occupies a series of subvertical, high-grade plunging shoots within the BIF fold closure.

 

Longitudinal section looking east, highlighting the recent high
grade intersections within the southern shoot. Source: Company
announcement

 

“As previously reported (in an ASX release on 28 November 2012) the high-grade shoots are displaced by a low angle reverse fault around 200m below surface.

“From here the shoots are oriented parallel with the plane of the fault and plunge gently to the northwest.

“Gold mineralisation remains open to the northwest and drilling is scheduled to recommence this month.”