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12 Jun 2008 07:00
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For immediate release 12Β June 2008
Templar Minerals Limited
("Templar Minerals" or "the Company")
Exploration UpdateΒ
Latest results confirm Soviet era exploration results
Templar MineralsΒ (AIM -"TMP"), the gold and base-metal exploration and production company with operationsΒ in Fiji and the Republic of Georgia, is pleased to announceΒ initial results from the Phase 1 HQ diamond drilling program on the Vaio target orebody. Vaio is one of 9 targeted orebodies defined during the Soviet era in Templar's 90% owned Adjara Project area,Β RepublicΒ ofΒ Georgia. Historic non-JORC compliant Russian resource estimates indicated a total mineral resource for the Adjaria Project of: Copper 74,800Β tonnes, Lead 15,000 tonnes, Zinc 11,000 tonnes, Gold 0.652 tonnes and Silver 15.1 tonnes.
Of the four holes (1204 m total) drilled at Vaio target orebody,Β assayΒ results of selective sampling of three holes (VAIO_001 to VAIO_003) have been returned from ALS Chemex.
Highlights
Vaio Phase 1 drilling intersects Au-Ag-Pb-Zn mineralization
Intersections include 2.25Β m grading 8.00% Zn, 2.95% Pb,Β 4.96g/t AuΒ & 20.67 g/t Ag
Confirms Soviet era exploration results
Soviet era adits rehabilitated and accessible at Vaio & Varazza
A Phase 1 diamond drill programme has now commenced on the Namonastrevi Central pyrite-chalcopyrite-tourmaline-carbonate breccia complex.Β
David Lenigas, Chairman of Templar, said:Β
""TheΒ results from the ongoing exploration drilling on Vaio continue to gives usΒ confidence in the reliability of the Non-JORC compliant Russian resource estimates derivedΒ from work previously undertaken. We are already actively planning a Phase 2Β drilling programmeΒ to enable us to produce a defined resource for theΒ Vaio orebody. At the same time, work is underway across the rest of Templar's Adjara project in theΒ RepublicΒ ofΒ Georgia."
Combined (B & C category) Soviet era resources defined for additional target orebodies
|
Cu (t) |
Pb (t) |
Zn (t) |
|
|
Varazza |
90410 |
9740 |
9400 |
|
Obolo Kanli Kaya |
13510 |
3040 |
2430 |
|
Tskalbokela |
43750 |
2610 |
1340 |
Vaio Drill Hole Collar Details
|
ID |
E* |
N* |
Elev |
EOH |
Dip |
Azimuth |
|
VAIO_001 |
748446 |
4610929 |
435 |
240.7 |
-45 |
175 |
|
VAIO_002 |
749018 |
4610827 |
551 |
424 |
-45 |
40 |
|
VAIO_003 |
749016.5 |
4610827 |
551 |
347.6 |
-85 |
45 |
* UTM WGS84 Zone 37N
Vaio Drill Hole Mineralized Intersections
|
HoleID |
From (m) |
Β To (m) |
Intersection (m) |
Au (ppm) |
Ag (ppm) |
Pb (%) |
Zn (%) |
|
VAIO_001 |
35.00 |
35.50 |
0.50 |
0.18 |
4.00 |
0.25 |
1.07 |
|
77.00 |
80.00 |
3.00 |
2.25 |
32.67 |
1.64 |
1.96 |
|
|
161.00 |
163.00 |
2.00 |
0.10 |
3.00 |
0.62 |
0.54 |
|
|
Β |
|||||||
|
VAIO_002 |
3.00 |
5.25 |
2.25 |
4.96 |
20.67 |
2.94 |
8.00 |
|
44.00 |
52.00 |
8.00 |
0.08 |
3.45 |
0.37 |
0.43 |
|
|
63.35 |
64.60 |
1.25 |
0.14 |
6.50 |
0.69 |
1.43 |
|
|
70.70 |
73.20 |
2.50 |
0.05 |
2.17 |
0.35 |
0.79 |
|
|
89.00 |
98.50 |
9.50 |
0.03 |
0.68 |
0.18 |
0.36 |
|
|
119.65 |
121.90 |
2.25 |
0.10 |
2.33 |
0.13 |
1.20 |
|
|
Β |
|||||||
|
VAIO_003 |
0.50 |
3.50 |
3.00 |
0.53 |
8.33 |
0.97 |
2.99 |
|
77.00 |
79.00 |
2.00 |
0.06 |
1.25 |
0.13 |
1.31 |
|
|
218.00 |
222.00 |
4.00 |
0.10 |
13.50 |
0.86 |
0.75 |
|
|
256.62 |
258.82 |
2.20 |
0.34 |
26.00 |
1.77 |
3.06 |
|
The information contained in this announcement has been reviewed byΒ Keith KenyonΒ AUS IMM, Geochemical Consultant to Templar Minerals. He is the Qualified Person overseeing the geochemical exploration at the Adjaria Gold Project. Mr. Kenyon has 36 years experience in gold exploration and geochemistry and he is undertaking to act as a Qualified Person for the purposes of this announcement.
GLOSSARY
|
Geochemistry |
The study of the chemistry of geological materials |
|
Adit |
An adit is a type of horizontal or nearly horizontal excavation, generally developed for exploration or mining into the side of a mountain |
|
Au Ag Zn |
Gold Silver Zinc |
|
Base Metals |
A metal which oxidises when heated in air, e.g. lead, nickel, copper, tin, zinc, as opposed to noble metals such as gold and platinum. |
|
g/t |
Grams per tonne |
|
HQ Core |
Core from a Diamond drill hole that is 63.5 mm in diameter |
|
Polymetallic Mineral Deposit |
A mineral deposit consisting of polymetallic ore is the source of more than one metal suitable for recovery |
Enquiries:
Templar Minerals Limited Tel: +27 79 872 7587Gordon Cassidy, Finance Director
Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396RolandΒ Cornish Rosalind Hill Abrahams
Financial Dynamics Tel: + 44 (0) 20 7831 3113
Ben Brewerton
Ed Westropp
Forward-Looking Statements:
This press release contains statements that are "forward-looking". Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
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