Sydney, Nov 28, 2005 (ABN Newswire) - Regis Resources (ASX: RRL) announces the following figures for the Moolart Well Gold Project
Further significant drilling results have been received from the high-grade laterite mineralisation at the Lancaster Zone as follows:
- 11m at 6.18 g/t gold from 7m depth in hole MWAC 910
- 8m at 3.04g/t gold from 7m depth in hole MWAC 1104
- 10m at 2.56 g/t gold from 7m depth in hole MWAC 909
Drilling results have also defined three new high grade laterite zones at Moolart Well as follows:
Lancaster North Zone
- 5m at 5.09 from 2m depth in hole MWAC 936
- 5m at 4.06 g/t gold from 6m depth in hole MWAC 979
- 6m at 2.73 g/t gold from 6m depth in hole MWAC 980
Wellington Zone
- 5m at 2.54 g/t gold from 8m depth in hole MWAC 1008
- 4m at 5.38 g/t gold from 7m depth in hole MWAC 1009
Halifax Zone
- 5m at 2.01 g/t gold from 8m depth in hole MWAC 1037
- 6m at 4.33 g/t gold from 7m depth in hole MWAC 1038
- 4m at 3.38 g/t gold from 9m depth in hole MWAC 1049
Background - Moolart Well Project, Duketon.
Further air core (AC) drilling results have been received from the Moolart Well project area at Duketon, north of Laverton in Western Australia. Only results for the top 20 metres of each hole have been received and results for the remainder of each hole are awaited. The top 20 metres of each hole intersects the flat-lying mineralised laterite in the project area. The current round of drilling at Moolart Well is aimed in part at both extending and infilling the high-grade zones which have been broadly defined within the laterite body. The high grade zones are defined as containing intersections having a thickness/grade product greater than 8 gram-metres (g-m). A large proportion of the Moolart Well project, which extends up to 6km in a north-south direction, is only broadly drilled on 100 metre line spacings.
The Duketon properties are a Joint Venture between Regis Resources NL (ASX: RRL) and Newmont Australia Ltd. (ASX: NEM) Regis is manager of exploration and will hold 59% direct and indirect equity in the properties following completion of the restructure of the joint ventures, expected shortly. On completion of the transaction, Newmont Australia Ltd will move to approximately 47% of the ordinary shares in Regis Resources NL.
Moolart Well - Lancaster Zone
The Lancaster Zone was the first high grade area defined in the Moolart Well laterite resource and trends north-northwest. The mineralisation has an average width of approximately 100 metres and average thickness of 5 metres. Significant assays from the recently received drilling results are summarised in Table 1 below. These results infill the +8g-m high grade zone previously defined to the northern boundary at 6944450mN, and extend the +16g-m contour both to the north and to the south. Further drilling is planned to close off the high grade zone to the north and west.
Table 1 Significant Laterite Intersections - Lancaster Zone
Hole No Northing Easting From To Int Gold
m m m g/t
MWAC 903 6944225 435775 9 17 8 2.18
MWAC 1098 6944350 435625 7 10 3 3.69
MWAC 906 6944375 435650 7 9 2 3.17
MWAC 909 6944375 435725 7 17 10 2.56
MWAC 910 6944375 435750 7 18 11 6.18
MWAC 911 6944375 435775 7 13 6 2.10
MWAC 1103 6944400 435675 6 10 4 2.35
MWAC 1104 6944400 435725 7 15 8 3.04
MWAC 1105 6944400 435775 7 12 5 2.77
MWAC 917 6944450 435675 5 9 4 3.23
Intercepts calculated using a 0.5g/t lower cut, no upper cut, maximum 2m internal dilution
Holes drilled at 270 grid azimuth, -60 deg dip. EOH - end of hole
Moolart Well - Lancaster North Zone
A new zone of high-grade laterite gold mineralisation is now confirmed on the Lancaster trend, centred on 69445100mN. Significant new drilling results are summarised in Table 2 below. These results extend the known high grade +8g-m laterite mineralisation 400 metres further south to 6944550mN, and also define a new zone of +16g-m over a strike length of 100 metres in the southern part of the zone. This new zone has been named "Lancaster North" on the attached plan.
Table 2 Significant Laterite Intersections - Lancaster North Zone
Hole No Northing Easting From To Int Gold
m m m g/t
MWAC 927 6944550 435675 3 7 4 4.00
MWAC 936 6944650 435675 2 7 5 5.90
MWAC 955 6944850 435400 7 10 3 5.23
MWAC 956 6944850 435450 5 10 5 2.98
MWAC 967 6944950 435450 7 9 2 4.97
MWAC 969 6944950 435550 4 8 4 2.63
MWAC 970 6944950 435600 4 7 3 3.48
MWAC 979 6945050 435550 6 11 5 4.06
MWAC 980 6945050 435600 6 12 6 2.73
MWAC 981 6945050 435650 5 8 3 3.63
MWAC 982 6945150 435350 11 16 5 3.05
MWAC 986 6945150 435550 9 14 5 2.03
MWAC 987 6945150 435600 8 14 6 3.12
Moolart Well - Wellington Zone
A new zone of high grade laterite gold mineralisation is now clearly defined centred on 6945800mN, and has been named the Wellington Zone on the attached figure. Significant new laterite intersections are summarised in Table 3 below. Initial 100m x 100m and 100m x 50m drilling has now been closed up in selected areas to 50m x 50m in this high grade area. At present, a high grade laterite zone up to 200 metres in an east west direction is indicated. Further drilling is planned to close the spacing up to 25m x 25m, and to more fully define the extremities of the high grade area.
Table 3 Significant Laterite Intersections - Wellington Zone
Hole No Northing Easting From To Int Gold
m m m g/t
MWAC 1003 6945650 435650 7 12 5 2.18
MWAC 1007 6945750 435500 9 13 4 2.46
MWAC 1008 6945750 435550 8 13 5 2.54
MWAC 1009 6945750 435600 7 11 4 5.38
MWAC 1014 6945855 435550 7 11 4 3.23
Moolart Well - Halifax Zone
A third new zone of high grade laterite mineralisation is now clearly defined over at least over a 1 kilometre north-south strike length in an area now defined as the Halifax zone. Significant new laterite intersections are summarised in Table 4 below. The current drilling program over Halifax is not yet completed, and will resume when field operations re-commence in early 2006.
Table 4 Significant Intersections - Halifax Zone
Hole No Northing Easting From To Int Gold
m m m g/t
MWAC 1037 6946350 435400 8 13 5 2.01
MWAC 1038 6946350 435450 7 13 6 4.33
MWAC 1048 6946750 435300 11 15 4 2.05
MWAC 1049 6946750 435350 9 13 4 3.38
MWAC 1058 6947050 435350 10 14 4 2.10
MWAC 1059 6947050 435400 9 11 2 3.08
Forward Programme
Assay results for the rest of the drillhole intervals below 20 metres will be received shortly, and provide further information concerning the gold oxide mineralisation known to exist beneath the laterite in several locations. Significant results will be released separately to the market.
A scoping study examining the development potential of the existing 1.7Moz of JORC code gold resources existing at Moolart Well and surrounding satellite deposits is underway, and has already provided positive metallurgical results for laterite and saprolite ore samples. A major drilling programme to infill and extend the existing resource is underway, with drill spacing to be closed up to 25m x 25m in high grade areas to allow for detailed resource definition and mining assessment. A resource upgrade is expected shortly following receipt of all recent drilling assays.
