BOSS20 Oct 2011 13:51
KeywordCompanyEPIC/TIDMSEDOL/ISINNews PriceAnnouncementsFundamentalsNewsArticleRSSZeehan Zinc Limited (CRHL)Add to Alerts list Print Mail a friend
Friday 07 December, 2007Zeehan Zinc Limited
Resource Update
Zeehan Zinc Limited
07 December 2007
Zeehan Zinc Limited
Resources Update
New Discovery at Comstock
Zeehan Zinc Limited ('Zeehan Zinc' or the 'Company') announces the discovery of
a significant new deposit at its Comstock mine site in Western Tasmania,
Australia. The discovery follows an extensive drilling campaign undertaken by
the Company during 2007.
The new Boss deposit consists of two lodes - Boss Upper & Boss Lower - located
adjacent to Allison's Lode where the Company's initial mining activity has been
focused. The mineralisation of the Boss Lodes comprises a flat lying lead/zinc
sulphide body ranging in thickness between 5 and 15 metres, approximately 70
metres below surface. The new Inferred Resource estimate is summarised in Table
1 below:
Table 1 Total Boss Inferred Resources
Deposit Cut-off Status Tonnes Pb % Zn % Ag ppm
grade
Boss Upper 1% Pb Inferred 126,000 2.5 1.3 24
Boss Lower 1% Zn Inferred 1,266,000 3.5 3.0 74
Grand Total 1,392,000 3.4 2.8 69
(numbers have been rounded off to reflect the level of accuracy with the
estimate)
The Company also announces that new resources have been defined on parts of the
Watson's Lode with additional resources estimated for a new zone at the Main
Lode, both located adjacent to the Allison's Lode (Table 2).
Table 2 Watson & Main Lode Inferred Resources
Deposit Status Tonnes Pb % Zn % Ag ppm
Watson's Inferred 29,000 1.8 3.9 22
Lode
Main Lode Inferred 36,000 2.0 4.0 43
Commenting on the new discovery, Ralph Rossouw, CEO of Zeehan Zinc said:
'The Boss Lode is an exciting discovery of a new style of flat lying,
stratabound mineralisation at Comstock. The lode is open to west, east and
south and extends under the previously known vein lodes of the mine site. It is
only 30m below our present pit floor at the Allison's Lode. Our team is
currently evaluating the economics of this new deposit and we intend to
accelerate our drilling program in order to prove-up its extent.
Combined with the increase in resources at the Watsons and Main Lodes, the new
deposit represents an excellent follow on from the Company's drilling program
during 2007 and demonstrates the significant potential of our assets.'