TNG confirms copper from old drill core
THE DRILL SERGEANT: TNG Limited (ASX: TNG) has reported new results from re-sampling and assaying of historic diamond drill core from the Mount Hardy ‘Mine’ prospect at the company’s 100 per cent-owned Mount Hardy copper project in the Northern Territory.
The company considers the latest results provide evidence of widespread copper mineralisation at Mount Hardy contains, and enhances the prospectivity of the area while confirming the potential of the Project as an important asset for TNG in 2013.
The results come for seven diamond drill holes were drilled into the ‘Mine’ prospect in 1968 by the Bureau of Mineral Resources (BMR) over a restricted strike length of just 150 metres.
The company located the BMR drill core at the Department of Resources core storage facility in Alice Springs, where it had been well preserved.
The core was logged, cut and dispatched for laboratory assay.
Results from the rock sampling identified a single zone, which returned 6 metres at 3.39 per cent copper from 39 to 45 metres.
Another two zones were outlined returning 8m at 0.51 per cent copper from 21 to 29m, and 12m at 2 per cent copper from 39 to 51m, remaining open to the south.
Results from soil sampling confirmed the copper anomalism extended to the west for approximately 500m and this remains untested at depth.
TNG said the results of the BMR core samples have confirmed the extension of the surface mineralisation at depth over a minimum strike length of 150m and that soil and rock geochemical sample results show the surface anomaly for copper extends for at least 500m.
This was not tested by the BMR drilling, however, TNG consider this provides a future target at this prospect.
The company indicated it will conduct a new geophysical program including Induced Polarisation (IP) for detection of disseminated sulphides and detailed gravity for accurate mapping structures at Mount Hardy in Q1 of 2013.
A down-hole electromagnetic (DHEM) survey has also been prepared and will be completed prior to year end subject to crew availability.
All remaining RC results have also now been received and are currently being assessed in conjunction with the geophysics. These will be reported separately.
“We now have clear evidence of potentially significant widths and grades of copper mineralisation, including native copper from historic drilling at the Mount Hardy ‘Mine’ Prospect, which is just one of several target areas at Mount Hardy which we intend to test further in the coming weeks and months,” TNG Limited managing director Paul Burton said in the company’s announcement to the Australian Securities Exchange.