Overland Resources extends Darcy deposit

THE DRILL SERGEANT: Australia-based Canada-focused minerals exploration play Overland Resources told the Australian Securities Exchange that diamond at its Yukon base metal project is drilling is, “progressing very well”.

The company has completed 27 drill holes for more than 5,800 metres as part of a 10,000 metre drilling program.

Drilling to date has targeted vertical and lateral extensions of the high grade Andrew and Darcy zinc deposits.

Mineralisation at both deposits remained open in all directions following the completion of the company’s 2010 drill program.

Overland has received analytical results from the first six diamond drill core holes completed.

Two of these holes were drilled at the Darcy zinc deposit and four at the Andrew zinc deposit.

Thick zones of mineralisation were intersected at the Darcy zinc deposit, with results including:

– 6.3 metres at 9.1% zinc from 9.7 metres;
 
– 16.0m at 8.0% zinc from 49m; and

– 13.0m at 4.7% zinc from 111m.

Overland said the result from the first of the Darcy holes confirms a trend of shallow mineralisation at the eastern end of the deposit.

The company said it has been encouraged by the continuing shallow and high grade nature of the mineralisation as it supports additional drilling along strike.

The results from second Darcy hole have increased the company’s understanding of mineralisation at depth at the north-western end of the deposit.

These results have given the company increased confidence that mineralisation continues at depth at Darcy.

Additional drilling has been undertaken to test for strike extent while further drilling is planned to target mineralisation at depth.

Drilling conducted by Overland at the Andrew zinc deposit has been testing for extensions of mineralisation immediately to the east of the deposit.

This drilling has intersected thick zones of mineralisation including: \

– 12m at 3.5% zinc from 123m; and

– 6m at 4.0% zinc from 157m.

Overland is confident these results show that the proposed open pit may be extended to the east and the company has further drilling planned for Andrew.

“At the western end of the Andrew Deposit mineralisation appears to have been truncated by an extended fault structure running oblique to the main zone,” Overland Resources said in its announcement.

“Geological modelling is now underway to identify the potential locality of the western offset mineralised block.

“Additional drill testing to evaluate this offset will then be planned.

“Analytical results are pending for a further four diamond drill holes completed recently at the Andrew zinc deposit.”