Newera encouraged by Giant drilling
THE DRILL SERGEANT: Newera Resources said it has been encouraged by the first batch of assay results it has received from to samples taken during a recently conducted aircore (AC) drilling program at the company’s Giant prospect.
The Giant prospect is located within the Jailor Bore project in the Gascoyne Region, 250 kilometres northeast of Carnarvon in Western Australia.
The results Newara has received so far represent the majority of results from the drilling program carried out at Jailor Bore in August.
Approximately one hundred further samples are still to be assayed with the company expecting to receive those results in November.
A total of 211 aircore holes, along three drill lines, were drilled at the Giant prospect for a total of 2071 metres.
To date, Newera has received the results for 832 single one-metre samples, all of which have been analysed using a four acid digest.
Elements analysed included uranium, vanadium and thorium.
From the 832 results received, Newera said it has identified 64 drill holes generating 69 significant intersections of mineralisation with uranium above 100 parts per million.
“Newera believes that while the uranium results could be considered of moderate grade, they are significantly anomalous and correlate well between the three lines spaced 320 metres apart,” the company said in its ASX announcement.
“The mineralised zone remains open to the north and south. Further drill lines can be added in an attempt to extend the known and now tested zone of mineralisation.
Newera said it was encouraged by both the uranium and vanadium results.
“While the uranium results are higher than expected, the Vanadium results are substantially higher than expected,” the company said.
“Uranium to vanadium ratios are generally between 0.8 and 2.5.
“Further work is required but results from this initial phase of detailed exploration are considered very encouraging and further extension drilling will be planned to commence after the wet season in 2012.”
