Cradle hits further Panda Hill mineralisation

/in /by

THE DRILL SERGEANT: Cradle Resources (ASX: CXX) has received assay results for three diamond and two RC holes of a 78 hole drill program recently completed at the company’s Panda Hill niobium project in Tanzania.

Cradle said the results from the holes, PHDH16 and 17, and PHRC001 and 002 had expanded on thickness and grade of carbonatite mineralisation in the northern and southern regions of the deposit.

PHDH017 intersected a broad zone of high-grade (>1% niobium) magnetite rich sovite while PHC016 more than doubled the thickness of mineralisation at higher than expected niobium grades.

Highlighted intercepts from this round of assays include:

PHDH017
48 metres at 0.69 per cent niobium from 20m, including 21m at 1.07 per cent niobium;

PHDH015
55m at 0.46 per cent niobium from 41m, including 6m at 0.97 per cent niobium;

PHRC001
16m at 0.5 per cent niobium from 2m and 22m at 0.61 per cent niobium from 24m;

PHRC002

14m at 0.93 per cent niobium from 2m and 41m at 0.71 per cent niobium from 26m, including 4m at 1.42 per cent niobium with hole ending in 5m at 1.21 per cent niobium.

 

Local geology of Panda Hill showing the location of the 2014 drilled
(red) and planned (blue) drill holes. Source: Company announcement

 

In the northern regions of the deposit, hole PHDH017 intersected a broad zone of high-grade niobium mineralisation.

Cradle said this hole had confirmed the presence of high-grade magnetite-carbonatite in the northern regions of the deposit and is higher in grade than the mineralisation expected in that area.

PHDH016 intersected higher grade, more continuous and thicker mineralisation 50m to the north of hole PHDH017.

PHDH018 intersected thicker but slightly lower grade mineralisation than was indicated by historical drilling.

In the southern region both holes PHRC001 and PHRC002 encountered thicker and higher grade zones of carbonatite mineralisation than was expected, although the extent of weathered material is less than expected.

“Initial assay results are better than expected in both the northern and southern portions of the deposit,” Cradle Resources managing director Grant Davey said in the company’s announcement to the Australian Securities Exchange.

“To date our 2014 infill drilling campaign continues to expand on the thickness and grader of mineralisation in the regions we have drilled.”

Email: admin@cradleresources.com.au

Website: www.cradleresources.com.au