RE: wolf mountain results24 Sep 2019 08:21
Highlights:
· Drilling and trenching results have confirmed extensive lead("Pb")-zinc("Zn")-silver("Ag") mineralisation over an area of 800 metres ("m") in length and 400m in width in the northern part of WM, with significant potential for high-grade feeder structures.
· Over a three-month period, 278.5m of trenching and 1,609m of drilling were completed and 755 samples were sent for assay.
· Trenching - highlights:
o Trench WM-T01 returned 1.43 per cent Pb, 1.87 per cent Zn and 11 grammes per tonne ("g/t") Ag over 51.0m, including 2.01 per cent Pb, 3.17 per cent Zn and 18 g/t Ag over 12.5m; and
o Trench WM-T02 returned 2.7 per cent Pb, 0.55 per cent Zn and 10 g/t Ag over 18.0 m and 3.6 per cent Pb, 0.64 per cent Zn and 14 g/t Ag over 8m.
o WM-T01, T02 and T03 all returned anomalously high Pb-Zn-Ag concentrations for intersected zones.
· Drilling - highlights (All intercepts are 'down the hole' thicknesses and not 'estimated true' thickness):
o Hole WM001 returned 1.2 per cent Pb, 0.36 per cent Zn and 10 g/t Ag over 14.1m;
o Hole WM003 returned 1.4 per cent Zn over 4.15m;
o Hole WM004 returned 1.27 per cent Pb, 0.91 per cent Zn and 8 g/t Ag over 8.9m; and 1.4 per cent Zn over 20.9m;
o Hole WM006 returned 1.38 per cent Zn over 19.3m;
o Hole WM007 returned 2.69 per cent Pb, 0.4 per cent Zn and 16 g/t Ag, over 4.3m;
o Hole WM009 returned 1.29 per cent Pb over 3.0m;
o Hole WM010 returned 2.45 per cent Zn over 2.0m; and
o Hole WM014 returned 2.14 per cent Zn over 1.0m.
· The results have added significant value in understanding the geometry of the target which shares many similarities to the Crnac Pb-Zn deposit (non-JORC compliant 3.5 million tonnes ("Mt") containing 8.1 per cent Pb, 3.2 per cent Zn, 120 g/t Ag) and the Zijaca Pb-Zn deposit (non-JORC compliant 5.2 Mt containing 2.83 per cent Pb, 2.83 per cent Zn and 16 g/t Ag). Zijaca is 3.3 kilometres ("km") southeast of WM North along trend.
· Vardar is planning to conduct Direct Current - Induced Polarisation ("DC-IP") surveys, the results of which, when combined with detailed magnetic data, will be used for targeting high-grade sulphide-dominant Pb-Zn-Ag mineralisation associated with both mineralised breccia and feeder structures.