No work was carried out pending the resolution of permitting issues in the area
December 31, 2007
Nine of ten RC drill holes completed at Toucan during October intersected mineralisation with a maximum of 1m @ 6.8g/t Au in TPC-032. Significant results included:
- 8m @ 2.68g/t Au from 42m in TPC-030
- 5m @ 3.38g/t Au from 16m in TPC-035
- 3m @ 3.24g/t Au from 64m in TPC-026
November 23, 2007
Provided the following updates:
- areas of magnetite mineralisation associated with the outcropping iron formation has been highlighted by
the aeromagnetic data particularly around the fold closure. The magnetic anomalies extend over 17km and range
across 250m on the east limb to 2,000m on the west limb.
- the aeromagnetic data has also indicated potential for hematite mineralisation in an extensive area of
demagnetisation concealed under cover to the north of the northern fold closure (refer to Target Fe5 on Figure 1 which follows). Similar demagnetised features associated with alteration and hematite development have already been outlined from surface sampling at Targets Fe3 and Fe4.
- preliminary Davis tube work from surface outcrop samples of the magnetite mineralisation returned
concentrates averaging 68.45% Fe with 1.23% SiO2 and 0.02% Al2O3. This is an encouraging indication for the
potential of the deeper un-oxidised material to generate a commercial magnetite product. Further Davis tube
work will be carried out once drill samples are available.
- Phosphorus contents are very low, averaging 0.035% P throughout the iron formation system.
Research - Professional or Research - Advanced Subscriber Access Required
