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GLENBURGH
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Background The Glenburgh Gold Project is situated in the Southern Gascoyne Province of WA ~250kms east of Carnarvon. The project consists of a gold mineralised shear system hosted in remnants of Archean terrane in a Proterozoic mobile belt. Glenburgh was a grass roots discovery by Helix from regional stream sampling in the 1990's. Helix presently holds tenure to 1500 square kilometres in the region. |
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Exploration Update RC drilling commenced in early April after delays, weather disruptions and difficulties in scheduling a drilling contractor. Whilst drilling was held up, an infill soil sampling program continued during the quarter with a further 570 soils collected. The program has tightened anomalous extensions to some of the known prospects in the area (NE3, Zone 102, Zone 126, & Hurricane), as well as identified new soil anomalies in the mineralised corridor. In addition to the targets highlighted in the December quarterly, an area west of zone 126 returned up to 500ppb Au in soils forming a +100ppb Au anomaly with over 300m of untested strike. Elevated tungsten is coincident with this new target, a characteristic that is consistent with the gold mineralised zones that form the gold resources within the Victoria Bore grid. A small 500m vacuum drilling program carried out in January on the western extensions of the Victoria Bore Grid failed to penetrate the siliceous and ferrous hardpan in the transported overburden. A more powerful Aircore/RAB rig will be required to test this zone. |
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The 5,000m RC Drilling program currently underway will infill the prospects of Mustang, Icon, NE3, & Hurricane where mineralisation is open at depth and along strike as well as test new geochemical targets in the northeast of the Victoria Bore Grid. Results from this drilling are not expected until late in the June 2008 quarter. Following the current RC drilling program, the data will be reviewed and augmented into a resource update that is expected to lead into an internal scoping study to examine potential development and mining scenarios for the Glenburgh Project. The critical milestone is to increase the potential from the current inferred resource estimation of 1.1Mt @ 3.1g/t for 108,000oz Au, to a target in excess of 400,000oz. At the Firebird Prospect, sampling has identified numerous pods of +50ppb Au in soil within the main anomaly approximately 350m x 40m (Max 2.5g/t Au) surrounded by several smaller gold in soil anomalies (50-100m in strike). At the Barracuda East Prospect a +50ppb, 150m x 60m Au in soil anomaly (Max 3.1g/t Au) appears to be controlled by structure. Several other anomalies in this area, up to 250m in strike, are also being assessed. Present indications suggest that gold anomalism is associated with shallow to moderately plunging parasitic folds within fine-grained quartz-feldspar-biotite gneiss along a regional E-NE trend. Recent mapping in the area identified calc-silicate and sulphide alteration within the target zone, as well as localised magnetite alteration in the granodiorite surrounding the gneiss. At Challenger, the previously announced soil anomalism appears to have scope for an extension along strike. A new gold in soil anomaly separated from the main anomaly by a 3km zone of leached saprolite and a creek catchment, returned assays up to 0.8g/t Au in soils. |
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