Dart Mining NL has commenced its fourth drilling program at Unicorn with the key objective of increasing the size of the current JORC compliant Indicated Resource and also to advance it to JORC Measured status. This will involve drilling approximately 15 reverse circulation holes from surface to 250 meters. The drilling program is some 10 days behind schedule due to a series of equipment issues however he first results from the southern breccia drilling are expected by late May. As previously advised the drilling program will be completed during June with the resource update remaining on schedule for Q3 2012.
The first two RC holes into the southern breccia have intersected visible molybdenum in fresh breccia fragments with the first hole ending in strong mineralization at 180 meters. This hole is scheduled for a diamond tail following the completion of the RC component of the program.
As previously advised, as part of the Resource upgrades drilling, the southern mineralized breccia, sediments and rhyolite surrounding the Unicorn porphyry is being tested. This represents the first systematic drill testing of these zones. Recent clearing during track construction in the southern breccia has exposed visible molybdenum within breccia fragments some 130 meters further south than previously identified. This zone will be systematically tested in the current drilling program and will greatly assist with the estimation of an expanded Resource.
RC drilling into the IP anomaly has been suspended before target depth was reached due to a large influx of ground water into the hole. The RC drilling technique is not suitable for high water flow conditions and will require a diamond drill tail to extend the hole to target depth 250 meters after the completion of the current RC drilling phase.
The intersection of significant ground water at the base of the mountain supports Dart Mining’s scoping study assumption that processing water for a future plant facility will potentially be sourced from a bore field rather than a local river. This is likely to have a positive effect on the overall economics of the Unicorn project.
Source - Dart Mining
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