Cabeza Trenching Results

RNS Number : 6103T

Aurum Mining PLC

17 December 2012

 



News Release

AURUM MINING PLC

("Aurum" or "the Company")

Cabeza Trenching Results

Aurum Mining plc (AIM: AUR), the Spanish focussed gold and tungsten explorer, is pleased to announce further excellent results from its ongoing trenching programme at its Cabeza de Caballo (Cabeza) gold permit area in Salamanca Province. 

Results received from samples collected in the latest two trenches excavated on an extensive gold-in-soil anomaly have encountered gold mineralisation over two wide zones of high grade. These results follow on from initial trenching that encountered similar gold mineralisation as announced on 23 October 2012.

Highlights

·     Trench CABTR006 encountered two main zones of veining and mineralization (19m and 30m wide respectively).  Best intervals within the two mineralised zones include:

o  First zone: 4 metres grading 8.17 grams per tonne ("g/t"), and 1 metre grading 14.0g/t gold;

o  Second zone: 1 metre grading 4.72 g/t, 11 metres grading 1.57 g/t and 5 metres grading 1.22g/t gold.  If zero gold grade is assigned to the intervals that were not sampled in this zone (total of 13 metres), then this gives an average grade of 0.97g/t gold over the 30 metres.

·     Trench CABTR006 is located approximately 90 metres south of Trench CABTR004 which returned 21 metres grading 3.71 g/t gold from a similar zone of quartz-sulphide veining.

·     These trenches are located on a gold-in-soil anomaly which has a strike length of some 800 metres.

A map of the trenches and the gold-in-soil anomaly can be accessed by clicking here.

Sean Finlay, Aurum's Chairman, said:

"These are exceptional results from CABTR-006 and reinforce the findings obtained from our earlier trenching work at the permit area.  Most importantly they give further encouragement and indication that the permit area has the potential to host a previously unrecognised, near surface gold system.

 The existence of these wide zones of gold mineralisation containing grades of over 1g/t in surface trenches provides us with a very exciting new exploration target covering a geochemical soil anomaly which extends over a strike length of some 800 metres. 

The proceeds received from the Company's recent fundraise ensure that aggressive exploration programmes can continue on all the Company's projects. One of the key priorities will be the continuation of the trenching programme at Cabeza to identify further targets for the initial drilling programme at the project."

Detail

Six trenches totalling 619 metres have now been excavated on a gold-in-soil anomaly on the Cabeza de Caballo prospect which has a strike length of some 800 metres (NNE/SSW) at 50 parts per billion gold.  The soil anomaly was defined following prospecting which had defined high grade gold values from float material (loose blocks) in an area of very poor bedrock outcrop. 

The trenching to date at Cabeza has identified steeply dipping zones of gold-bearing quartz veining within variably altered granites.  In addition to the granite hosted mineralisation, CABTR-006 has encountered gold in the surrounding metamorphosed sedimentary rocks.

The two recent trenches could not be fully sampled over their entire length due to inclement weather conditions at the time of excavation. 

The joint‑venture now proposes to resume the trenching programme in January to ensure comprehensive sampling of the zones identified in CABTR-006 and to infill the area between this mineralisation and that identified in the earlier trenches CABTR-001 and 002 some 450 metres to the south.

Trench CABTR-005, located approximately 100 metres to the north of CABTR-003, encountered largely unaltered granites with little mineralisation and as a result future trenching will be focused in the area to the South of CABTR-003. Please see attached map for a summary of the trenches excavated to date.

Summary of Cabeza Trenching Results to date

Trench	From (m)	To (m)	Au g/t
CABTR005	No significant mineralization
CABTR006	11.0	15.0	4m @ 8.17
	22.0	23.0	1m @ 14.0
	29.0	30.0	1m @ 3.41
	56.0	57.0	1m @ 4.72
	64.0	75.0	11m @ 1.57
	81.0	86.0	5m @ 1.22

Trench	From (m)	To (m)	Au g/t
CABTR001	5.8	6.8	1m @ 0.61
	8.0	9.0	1m @ 2.20
	17.0	18.0	1m @ 1.53
	28.0	29.0	1m @ 16.6
	59.0	60.0	1m @ 0.61
	69.0	70.0	1m @ 0.85
	113.0	114.0	1m @ 2.26
	143.0	144.0	1m @ 2.56
CABTR002	3.0	4.0	1m @ 0.70
	11.0	12.0	1m @ 0.67
CABTR003	13.0	14.0	1m @ 1.07
	18.0	19.0	1m @ 0.95
	28.0	31.0	3m @ 0.65
	40.0	41.0	1m @ 0.70
	58.0	59.0	1m @ 1.96
	64.0	67.0	3m @ 0.87
	69.0	70.0	1m @ 3.27
	71.0	75.0	4m @ 1.96
	78.0	82.0	4m @ 1.85
	88.0	91.0	3m @ 2.13
	92.0	94.0	2m @ 1.25
	97.0	98.0	1m @ 11.8
CABTR004	0.0	21.0	21m @ 3.71

Significant Intercepts 0.5 g/t cut (1m minimum width of intercept and 5m maximum internal dilution)

Notes to Table:

Sampling, Assaying and Quality Control Measures

All trenches have been mapped and sampled by an experiences geologist.  Sampling is carried out over one metre intervals.

Sample preparation and analyses were performed at ALS Chemex (Spain). Assays are reported using Fire Assay and AAS on a 50g sample. Reference samples (blanks, duplicates and certified standards are routinely included in each batch as quality control measures.  In addition, check assays are performed on selected mineralised samples.

Qualified Person

Simon Beardsmore, BSc (hons), ARSM, MIMMM, CEng, Technical Manager of Aurum Mining plc, and a qualified person as defined in the Guidance Note for Mining, Oil and Gas Companies, June 2009, of the London Stock Exchange, has reviewed and approved the technical information contained in this announcement.

Contacts:
Aurum Mining plc	www.aurummining.net
Chris Eadie, Chief Executive Officer	[phone]
WH Ireland Limited	Nominated Adviser & Broker
Marc Davies / Mike Coe	[phone]
Newgate Threadneedle	Financial PR
Graham Herring / Beth Harris / Richard Gotla	[phone]

Notes to Editors:

Aurum Mining is an AIM listed exploration and development company focused on its highly prospective portfolio of gold and tungsten assets in North West Spain.

Gold

Through its joint venture agreement with Ormonde Mining plc (AIM: ORM), Aurum currently has a 60% interest in the Pino de Oro project in Zamora Province and a 54% interest in the Peralonso and Cabeza projects in Salamanca Province. 

Tungsten

Aurum's 100% owned Morille Tungsten project is located approximately 15km south west of Salamanca in North West Spain and covers an area of 5,796 hectares. The permit area is a 'brownfield' site with historical data indicating the production from the site of high quality tungsten concentrates from mineralisation grading up to 1% WO3.  This historic work will provide key information on where initial exploration targets are located.

 

END

 

 

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