re: Ann: Exceptional Thick High-Grade Copper ...
Syndicated Metals Andrew Munckton said "We thought we had seen the best results Barbara had to offer with the intersection we put out last week but the final batch of assays have lifted the bar even further, delivering 2 of the best intersections we have had seen yet at the project from within the Southern Shoot.
"Hits of 25.9m @ 4.24% Cu including a high grade zone of 7.5m@ 10.76 % Cu and a 29m@ 3.24% Cu including 19.0 @ 4.07% Cu are some of the best intersections you could ever wish to see from an emerging Copper project and were absolutely delighted with the results we have received from the recently completed program.
Importantly we have intersected wide zone of high grade copper mineralisation in the near surface environment which should allow flexibility and underpin the performance of the project GENERATING STRONG CASH FLOWS during the critical start up phase.
IN addition the intersection of high grade coarse grained Chalcopyrite near the base of the proposed open pit gives us confidence that we will be able to extend this mineralisation into potential underground mining positions below the open pit mine demonstrating the potential upside in the project.", he continued (LOW STRIP RATIO)
The Southern and Northern Shoot Diamond drilling results have confirmed the previous year's RC drilling results and increased our confidence in the robustness of the interpretation and the deposit's grade and geometry. This has allowed us to COMMENCE the interpretation and modelling work for the NEW MINERAL RESOURCE ESTIMATE (JORC RESERVES)
"All aspects of the Barbara development and moving ahead on schedule. The next key milestones will be the announcement of the Mineral Resource upgrade incorporating all of these results and providing the foundation for the ongoing FEASIBILITY STUDY.
"This will put is in a great position to MOVE the project towards development during the second half of this year," Mr Munckton added.
SMD Price at posting:
4.9¢ Sentiment: LT Buy Disclosure: Held
