This has to be one of the most exciting projects I have seen in a while imo!
Surrounded by high grade zinc mines, gold and copper mines and already has commercial zinc/lead/silver intercepts on the project with drilling limited to a small area!
No testing was done for gold, copper or cobalt but commonly occur in the area!
$9m MC with $1.3m cash. Drilling next month!
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No modern geochemical exploration has been carried out at Joumbira e.g. calcrete sampling, and this will be part of the Company’s initial exploration approach, together with detailed geophysics.
Historical exploration undertaken by Messina Transvaal and ISCOR, has generated datasets of geological mapping, soil sampling, gravity data and diamond drilling, which returned many significant results including:
• J017:
14m @ 9.50% Zn, 8.20% Pb, 70.80g/t Ag from 39m; and
5m @ 8.73% Zn, 2.30% Pb, 23 g/t Ag from 68m;
• J091:
23m @ 5.86% Zn, 6.30% Pb (incl. 18m @ 7.53% Zn, 7.14% Pb) from 29m
• J083: 11.5m @ 8.29% Zn, 1.24% Pb from 54m
• A:
10m @ 5.29% Zn, 4.30% Pb from 32m (incl. 5m @ 12.18% Zn, 6.26% Pb)
• J092: 11m @ 7.06% Zn, 3.73% Pb from 36m (incl. 1m @ 14.90% Zn, 5.62% Pb)
(Refer to Appendix 1 for full results)
None of the historic drilling samples were assayed for elements such as gold, tin, tungsten, copper or cobalt; which commonly occur in felsic intrusive related exo-skarns such as Joumbira.
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Due Diligence and Work Program
Due to the advanced nature of Joumbira, and as part of the technical due diligence, the immediate focus of exploration will be diamond drilling to follow up on the historical drilling results and test strike and plunge extents to determine the key controls of mineralisation.
The Company is planning to commence this work programme in February 2018.
Samples will also be tested for multi element analysis, as historical assays were limited to only zinc, lead and silver. These samples will also be used to carry out metallurgical testwork to confirm that the metals can be liberated efficiently.
