Altona Mining updates Little Eva Resource

THE DRILL SERGEANT: Altona Mining (ASX: AOH) has completed a JORC 2012-compliant Mineral Resource estimate for the company’s 100 per cent-owned Little Eva copper-gold deposit in north-western Queensland.

The company calculated the estimate based upon a new geological model it has derived from a recent program of re-logging and data validation.

 

The updated Little Eva resource at a 0.2% copper cut-off grade. Source: Company announcement

 

Altona explained there has been no new drilling and hence there is no real material change from the previous estimate, which it reported in December 2011.

The prior estimate was 100.3 million tonnes at 0.53 per cent copper and 0.09 grams per tonne gold for 534,000 tonnes of copper and 284,000 ounces of gold.

Compared to the previous estimate, tonnage at Little Eva has increased by six per cent, contained copper metal by two per cent and gold metal by four per cent.

Altona’s said its confidence in the estimate has improved with 78 per cent of the Resource now sitting in the Measured and Indicated categories, which is up from 69 per cent in the 2011 estimate.

The company indicated that both estimates exclude oxide mineralisation.

The re-logging and data validation programs that led to the new estimate covered 84 per cent of all resource drilling, focussing on the following:

Further validation and corrections to drill collar locations, down hole surveys and assay data;

Unifying descriptions and coding of lithology, alteration, mineralisation and weathering;

Identifying controls for mineralisation;

Creating a 3D geological model from interpreted sections; and

Creating a resource model based upon the new geological interpretation and utilising the same (MIK) estimation methodology as the 2011 estimate.

Email: altona@altonamining.com

Website: www.altonamining.com