C&P crap since upgrade. " 2 | P a g e • Blina is, through the...

C&P crap since upgrade.
"
2
|
P a g e
•
Blina is, through the recent observations and results, further encouraged
that the
copper
mineralisation is similar to the structural setting and style of mineralisati
on as th
e Keweenaw Copper
Province in Michigan, USA where 11 billion pounds of refined copper from ores grading between 1.5%
and 3.0% copper was produced over
a period of 100 years
1
.
B
lina Minerals NL
(
Blina
, ASX:
BDI
) also wishes to announce that it has extended
the Due Diligence Period
with Madacu Resources Pty Ltd until 22 February 2019 to allow for outstanding
due diligence
to be
completed to the Company’s satisfaction on the local holding company.
Blina
,
as p
reviously announced on 19 November 2019
,
has entered
into a Binding Option Agreement with
Madacu Resources Pty Ltd (
Madacu
) to explore for copper in Madagascar. The exploration
-
stage project
has in excess of 30 known copper occurrences identified
at surface in an un
-
explored province.
MADACU AND BLINA EXPLORATION PROGRESS
Madacu conducted an initial short helicopter
-
based programme, which was subsequently followed up by
a due diligence programme by
Blina and the recent programme
during the last quarter
2018. Th
is
number
of visits was required due to the remoteness of some of the areas, requiring
,
even in dry season
conditions
,
4x4 vehicles
,
trail bikes and extensive walking
to conduct the programme
.
1
Bornhorst, T.J. and Barron, R.J. (2011). Copper
deposits of the western Upper Peninsula of Michigan. In, The
Geological Society of America, Field Guide 24.

3
|
P a g e
In total
59
samples were collected ove
r the permits
during the programmes
, in addition to the 54 samples
collected previously,
with
recent
copper analysis results exceeding 37% copper. Th
e
locations
of all
samples
are detailed in Figure 2, with samples
returning above 1%
c
opper displayed in Table 1 below.
A
table with all collected samples
in
2018
is attached in Appendix 1. Additionally
,
significant
s
ilver values in
excess of an ounce were obs
erved, positively correlated to the higher
-
grade copper sampl
es. The
distribution of
all
high
-
grade
s
ilver samples is detailed in Figure 3.
Table 1: Samples returning above 1% Copper
from the
August / September 2018
sampling programme
In total, in excess of 15 copper mineralisation occurrences were visited and sampled within 55km radius
of Mainti
rano, consisting of a number of different mineralisation types including observed malachite,
chrysocolla, covellite, azurite and cuprite in vei
ns, breccias, vesicular and massive basalts.
It is however assumed that there is far higher density of copper oc
currence within the Maintirano
a
rea.
Basis for this assumption are the following observations:
•
High grade veins of covellite, malachite and cuprite do not display a distinct feature on the surface,
most likely due to the relative thick soil and laterite pr
ofile;
•
A relatively large number of horizontally extensive malachite enrichments within predom
inantly
vesicular basalt which only have been exploited locally on a pit by pit basis, observed at points of
“interruption” of the topographic profile, e.g. stre
am beds, breakaways, erosional features
–
meaning
a far larger number is potentially hidden bel
ow the soil / laterite profile
.
The observations to date suggest that three different occurrences types can be distinguished:
1.
Vesicular basalt with vesicles fil
led with malachite, with considerable horizontal extent, potentially
containing native or sulph
ide copper at depth, which is potentially
analogous
to the Keewenaw
copper deposits in Michigan (USA) mined from 1845 until recent times.
2.
High grade copper oxide
/ sulphide veins / shoots most likely sub vertical to vertical.
3.
Mixed massive and vesicular b
recciated basalt overprinted by malachite systems, possibly as surficial
expression of deeper shoots or
high
-
grade
sulphide lenses
Blina plans to evaluate th
e recent results during the upcoming rainy season in Madagascar, obtain
additional data including
hypospectral images to prepare the proposed geophysical surveys
and
evaluate
additional opportunities in the vicinity of the
permits. Additionally
, a
service
provider for geophysics,
reconnaissance
drilling, administration will be further evaluated,
with the initial aerial survey planned for
the first half of 2019. Depending on results
,
a follow up mapping and reconnaissance drilling campaign is
planned late 20
19.