Stream sediment sampling have been collected from the remaining exploration

Tag : limestone

Following the successful 'proof of concept' exploration results onthe limestone hosted gold target at Bozuluj, a program of detailedgeological mapping and trench sampling has been carried out alongthe 25 km length of soil sampling anomalies within the Potoj Cukaand Jasikovo exploration licenses within the TMC. The location ofthe two licenses is displayed in Figure 1.
Geological mapping of the 'limestone hosted' gold belt hasdetermined a complex geological and structural sequence oflimestone, marble, skarn, monzonite, diorite dykes, andesite,schist and sediments. Further work is required to determine, inmore detail, the structural and lithological controls on the goldmineralization.
The initial program of 'scout' trenching has used a notional 800mspacing between trenches within the four main anomalous areas (fromnorth to south as follows): Korkan, Bigar, Kraku Pester and Umka.Figure 2 displays the location of the key prospects with thebackground image of Au-Ag-As-Sb-Hg correlation from the soilsampling data. The figure also summarizes the geologicalassociation at each prospect.
For the majority of the trench sampling program a two metre sampleinterval has been used and the samples have been prepared at theSGS managed laboratory facility at Bor, eastern Serbia and havebeen assayed at the SGS managed laboratory at Chelopech inBulgaria. Following DPM exploration standard procedures, a fullsuite of field and laboratory duplicates and replicates along withinternationally accredited standards have been submitted with eachbatch of samples. A one metre sampling interval has been used forthe Bozuluj 'proof of concept' diamond drilling program. Compositesamples for metallurgical testing have been collected and compiledfrom the Bozuluj core and have been dispatched to SGS Lakefield,Toronto, Canada for first pass metallurgical testing. Results fromthe metallurgical test work are awaited.
RESULTS
The initial trench sampling program has been extremely successful,with gold mineralization being encountered in almost all trenchesexcavated to date.
Table 1 highlights key intercepts from the trench sampling program,using a cut off grade of 0.5g/t Au, whilst Table 2 displaysselected intercepts using a 'geological' cut off grade of 0.1g/t Auin order to illustrate the frequent broad zones of anomalous goldthat surround the mineralized intervals using a 0.5g/t Au cut off.
Table 3 summarizes the results of the 'proof of concept' drillingprogram at Bozuluj, with intersections calculated using a cut offgrade of 0.5g/t Au, a minimum intersection length of 5m and amaximum contiguous interval of waste of 5m. Note that holes BZDD001to BZDD007 have previously been reported but are included in Table3 for completeness. The 'proof of concept' program is considered tohave been very successful as numerous encouraging intersectionshave been returned, given the wide spacing of the first passdrilling program.
It is of note that several of the trenches began or ended inmineralization, including BITR002, BITR004 and BITR010 at the Bigarprospect, PETR001, PETR002 and PETR005 at Kraku Pester and JASTR009at Korkan.
Geological mapping has indicated that the mineralization isstructurally controlled and is dominantly hosted within stronglyaltered limestone, marble and skarn which are spatially associatedwith intrusive rocks including monzonite, diorite dykes andandesite bodies. Further mapping and structural studies, coupledwith re-interpretation of the extensive geophysical data that hasbeen collected is required to further delineate the controls onmineralization prior to targeting further drilling. Infilltrenching is also required to refine the numerous targets that havebeen identified to date.
Stream sediment sampling (both 'traditional' stream sedimentssamples and bulk leachable gold, or 'BLEG' samples) have beencollected from the remaining exploration licences which have beenstaked to cover the remainder of the prospective geological trend.The stream sediment samples have been dispatched for multi-elementanalysis by inductively coupled plasma (ICP-MS) techniques usingequipment at the ALS Chemex laboratory, Perth, Australia. The'BLEG' samples have been sent to SGS Welshpool, Perth, Australiafor leach analysis by method BLL62N. Soil sampling has also beeninitiated to extend coverage to the north and west of the Korkanprospect at the northern end of the currently identified anomalouszone.
The exploration to date has confirmed the existence of a greaterthan 25 km long zone of strongly anomalous gold mineralization.Much further work is required to begin to develop both a model ofthe controls and location of the gold mineralization in this newlydiscovered belt and to refine targets for follow up drilling.Nevertheless it is clearly evident that a new gold mineralizedprovince has been outlined along the western margin of the TMC.
Dr. Julian F. H. Barnes, a qualified person under NI 43-101 andExecutive Vice President of DPM, has supervised the preparation ofthe technical data included in this press release.
Dundee Precious Metals Inc. is a Canadian based, internationalmining company engaged in the acquisition, exploration, developmentand mining of precious metals. It currently owns the ChelopechMine, a producing gold/copper mine, and the Krumovgrad GoldProject, a mining development project, both located in Bulgaria,and is engaged in mineral exploration activities in Serbia. Inaddition, Dundee Precious owns the Back River gold explorationproject in Nunavut, Canada and a 95% interest in the Kapan Mine inArmenia.
FORWARD LOOKING STATEMENTS
This news release may contain certain information that constitutesforward-looking statements. Forward-looking statements arefrequently characterized by words such as "plan," "expect,""project," "intend," "believe," "anticipate" and other similarwords, or statements that certain events or conditions "may" or"will" occur. Forward-looking statements are based on the opinionsand estimates of management at the date the statements are made,and are subject to a variety of risks and uncertainties and otherfactors that could cause actual events or results to differmaterially from those projected in the forward-looking statements.These factors include the inherent risks involved in theexploration and development of mineral properties, theuncertainties involved in interpreting drilling results and othergeological data, fluctuating metal prices and other factorsdescribed above and in the Company's most recent annual informationform under the heading "Risk Factors" which has been filedelectronically by means of the Canadian Securities Administrators'website located at www.sedar.com . The Company disclaims any obligation to update or revise anyforward-looking statements if circumstances or management'sestimates or opinions should change. The reader is cautioned not toplace undue reliance on forward-looking statements.
To view "Figure 1: Location of Potoj Cuka and Jasikovo explorationlicenses within the Timok Magmatic Complex," please visit the linkbelow:
http://media3.marketwire.com/docs/dunfig1.pdf
To view "Figure 2: Location of key prospects," please visit thelink below:
http://media3.marketwire.com/docs/dunfig2.pdf
To view "Table 1," please visit the link below:
http://media3.marketwire.com/docs/dunt1.pdf
To view "Table 2," please visit the link below:
http://media3.marketwire.com/docs/dunt2.pdf
To view "Table 3," please visit the link below:
http://media3.marketwire.com/docs/dunt3.pdf