This is the maiden drill program at the Rulio Prospect and will comprise four to five holes for approximately 1,500 metres of diamond (NQ) core drilling. First assay results are expected early in 2014, and any visible indication of mineralisation identified will be disclosed to the market immediately.
The aim of the drill program is to define Broken Hill Type (BHT) mineralization, typically comprised of lead (Pb), zinc (Zn) and silver (Ag).
This exploration program will also include down-hole electromagnetic (EM) geophysics and is expected to be completed in mid-December 2013.
Recent reconnaissance exploration by the Company at the Rulio Prospect has identified extensive alteration and associated high-grade mineralisation, coincident with a regionally significant geophysical anomaly.
The main Rulio vein boasts outstanding high grade lead and silver results at surface, of up to 75.7% lead and 229 g/t silver, with average grades of 59.6% lead and 115 g/t silver (see ASX announcement 4 October 2013).
The maiden Rulio drill program is designed to explore for the source of this mineralisation, which has been observed at surface within six mineralised veins in the area.
Drill Program Details
A 1,500 metre NQ diamond core drilling program has been designed to test down dip of the BHT alteration package as well the high grade Pb vein and multi element geochemical-geophysical anomaly previously reported at the Rulio Prospect. The program will test all three targets at the prospect. Planned drill depths will range from 200 metres to 375 metres, with a planned average end-of-hole depth of 300 metres.
Downhole EM surveying will be conducted in existing drill holes at the Cocodeza zinc anomaly and high grade Meque Pb-Zn-Ag mineralisation (refer to Figure 2 for locations). At Cocodeza, mapping has been inhibited by extensive colluvium and it is thought EM may facilitate the identification of potential conductive bodies in the area, which present additional drill targets.
