www.siburan.com.au
Siburan Resources (ASX: SBU) is focused on the discovery of gold and uranium deposits in the Kalgoorlie region of Western Australia, and also has projects in New Zealand targeting tungsten and gold.
Following the listing of Siburan Resources in May 2010, the company's current primary focus surrounds the development of its key projects, the Mt. Pleasant Gold Project and the Goongarrie/Lake Marmion Uranium project. It has also expanded its portfolio of gold and uranium projects with the acquisition of the Canegrass project and the expansion of the Lake Marmion Uranium tenements.
Siburan Resources defines 1km gold zone, finds 21g/t gold rock chip sample
Perth-based Siburan Resources (ASX: SBU) is aiming to unearth a sizeable discovery at its Mt Pleasant gold project north of Kalgoorlie, which is surrounded by gold deposits and major gold mines.
From recent drilling, Siburan has defined a 1.2 kilometre long gold mineralisation zone linking the Anomaly 4 and Fortis prospects at the Mt Pleasant gold project.
Siburan was drilling to test two structural corridors, to see how prospective they were, in which a number of previously defined gold prospects had been defined.
Previous drilling at some of these gold prospects had returned very high grade gold intercepts including; 6 metres at 19.6 grams per tonne (g/t) gold, 1 metre at 27.45g/t gold and 6 metres at 2.28g/t gold.
Hence defining the 1 kilometre long gold zone linking Anomaly 4 and Fortis prospects, with an assay result of 3 metres at 1.70g/t gold, including 1 metre at 3.74g/t gold is potentially important.
The rotary air blast drilling by Siburan on the southern corridor was undertaken on a 160 metre by 80 metre pattern linking the area between Anomaly 4 and Fortis.
Siburan's Noel Ong said today the recent exploration was not only successful in defining a 1 kilometre gold mineralised trend at Mt Pleasant, but reconnaissance rock chips returned high grade gold values.
Unearthing two high grade rock chip samples in the north-eastern part of the project of 20.96g/t gold and 7.86g/t gold has to have excited Ong, opening up two new targets which have seen little to no drilling.
First pass drilling of the 7.86g/t gold rock chip sample did return an interesting intersection of; 4 metres at 3.93g/t gold.
Drilling will test the high grade rock chip sample areas as soon as possible.
Adding to the potential of the area, only 2% of the drilling was below 100 metres, with Mt Pleasant containing a number of shallow high grade drill intersections discovered by previous explorers in the 1990's.
Since then the project has seen no systematic gold exploration.
With 15 prospecting licences covering 18 square kilometres, there is certainly potential for Siburan.
All this is a prelude to the company's objective of making a discovery the size of one of the larger regional finds.
