High Grade Zinc and Silver Intersections at Mayfield Project
Perth, Feb 15, 2017 AEST (ABN Newswire) - Capital Mining Limited (
ASX:CMY) ("Capital" or "the Company") is pleased to announce high grade assay results from its recently completed reverse circulation (RC) and diamond drilling program at the base and precious metals, Mayfield Project (EL6358) in south-eastern New South Wales.
Highlights
- Capital Mining has intersected high grade zinc and silver in its recently completed drill program at the Mayfield Project in NSW
- Significant high grade intersection:
o 7.20m @ 4.31%Zn, 0.58% Cu and 16g/t Ag from 198.50 metres in hole MAY2
- Assay results from drill hole MAY2 include:
o Zinc values to 28.7%
o Copper values to 2.20%
o Silver values to 48.9 grams/tonne
- Drilling has identified a significant high grade zinc zone and confirms that the prospect is open along strike to the north and down dip
- Down hole EM Survey completed as part of planning for next drill program - results pending
The Mayfield Project (EL6358, ELA5415) covers a significant gold-copper skarn deposit, and is located within a highly mineralized part of the Lachlan Fold Belt as illustrated in Figure 1 (see the link below).
The drill program targeted down-dip and along-strike extensions of known mineralisation at the Mayfield Project (see Figures 2 and 3 in the link below), and was designed to confirm the continuity and consistency of the high-grade mineralisation within the project area.
The program was highly successful and intersected significant high grade base metals and silver mineralisation in the targeted skarn zones, including a highlight intersection of; 7.2m @ 4.31% Zn, 0.58% Cu and 16g/t Ag from 198.50 metres, in drill hole MAY2.
Assay results from drill hole MAY2 graded as high as; 28.7% Zinc, 2.20% Copper and 48.9g/t Silver.
In addition, the entire skarn zone exhibits strong copper values with peak copper values located higher on the hanging wall of the skarn. An intersection of 17.97 metres @ 0.75% Cu from 187.03 metres in drill hole MAY2 was recorded.
These assays have successfully identified a high grade zone of zinc located at the base of the skarn zone and confirm that the target area is open along strike to the north as well as down dip.
In drill hole MAY1, assay data results have highlighted an extensive down hole intercept with anomalous lead (Pb) and (Zn) zinc values within the entire extent of the skarn zone, as well as within the footwall and hanging wall. Maximum Pb and Zn are 0.224% and 0.265% respectively over a 33-34 metre interval, commencing from 216 metres downhole. Anomalous tin and silver values were also noted. The results of geological logging of both drill holes are summarized in Tables 1 and 2 attached (see the link below), with the assay data for MAY2 attached as Table 3 (see the link below).
Background to Mayfield Drill Program
During the December quarter, two angled (-60 deg) drill holes were completed - MAY1 and MAY2. These two holes were commenced initially as Reverse Circulation (RC) percussion holes but due to poor ground conditions, were completed as diamond drill holes. MAY1 was terminated at 261.6 metres and MAY2 was terminated at 216.5 metres. The location of these two drill holes are illustrated in Figures 2 and 3 (see the link below).
Next phase of Field Work
Based on the highly successful results from the drill program, Capital has completed a downhole electro-magnetic (DHEM) geophysical survey of MAY1 and MAY2 drill holes, in order to better define the extent and tenor mineralisation - and to help generate targets for the next phase of drilling. The results from this survey are pending.
The Company will also assess and interpret newly acquired geochemical and geophysical data in the context of historic information to assist its drill targeting process. Capital will advise of plans for the next phase of drilling at Mayfield in due course.
About the Mayfield Project
The Mayfield Project is located in the minerals endowed Lachlan Fold Belt of eastern Australia within the highly prospective Braidwood Granodiorite geology, and hosts a significant gold-copper skarn deposit (see Figure 5 in the link below - Project Location Map). Capital has a 51% equity interest in the Project. The remaining project ownership is held by Rutila Resources (46.5%) and Roberts Consulting (2.5%). The Mayfield Project forms part of an active exploration area, and is situated in close proximity to the world-class Majors Creek Gold Field, which hosts the significant Dargues Reef Gold Project, near the town of Braidwood.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/6F8I446W
About Capital Mining Limited
Capital Mining Limited (ASX:CMY) is an active ASX listed junior mineral resources company focused on the acquisition and exploration of key, demand driven commodities. Its project portfolio includes lithium prospective assets in Western Australia and the Republic of Ireland, plus gold and base metals projects in New South Wales.
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