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The Markets
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The Markets
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Mining

Rubianna Resources finds high grade nuggetty gold in the Murchison

Rubianna Resources (ASX: RRE) has discovered more nuggetty gold from its Bloodstone prospect, within its Murchison tenements in Western Australia, which is shown to be high grade.

Duplicate sampling from a QAQC program at the prospect has returned several significant anomalous “nuggetty” values.

These include 1 metre at 21 grams per tonne (g/t) gold from 92 metres that originally assayed at 1 metre at 0.6g/t gold, 1 metre at 198g/t gold from 93 metres that originally assayed at 1 metres at 0.7g/t gold, and 1 metre at 23g/t gold from 54 metres that originally assayed at 1 metre at 2g/t gold.

Overall the gold assays are similar between original and duplicate samples. However, these anomalous duplicate assays now indicate continuity, down-dip as well as down plunge to the gold mineralisation.

Importantly, the size of the resource may now increase due to the inclusion of these gold intercepts that were previously excluded as being too low grade.

Further QAQC sampling is in progress that will include all mineralised intersects greater than 0.5g/t gold.

Meanwhile, further reverse circulation drilling comprising about 3,250 metres is set to begin at the Bloodstone and Ruby Anne East prospects.

The program is targeting an upgrade in the status of the main gold resource at Bloodstone to the higher confidence Indicated category, as well as an increase in the overall resource at Bloodstone by extending the primary zone of mineralisation along strike and down plunge to the west and now also down-dip.

Additionally, drilling will also aim to generate an initial JORC Resource for the Ruby Anna East prospect.

Initial reverse circulation drilling will also begin on the Little Jim Prospect to test the depth extent and continuity of the high grade surface quartz veins.

Drilling at the Ruby Well project is expected to be complete by mid-March 2013, with assays expected within three to four weeks from completion.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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