ACN 138 222 705
ASX Code: EXCwww.exterraresources.com.au Issued Capital:
Ordinary Shares: 336.2m
Options: 87.1m
Directors and Management: John Davis
Executive Chairman
Geoff LaingExecutive Director
Justin BrownNon-Executive Director
Dennis WilkinsCompany Secretary
12 December 2016
SUMMARY:- 1,000m Drilling programme commenced at Linden Star and Second Fortune Extension
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Follow-up of historic intercepts including:
LRC17 - 9m @ 7.6g/t from 25m
LNRC076 - 2m @ 4.1g/t from 14m and 1m @ 97.4g/t from 23m
LNRC106 - 5m @ 4.0g/t from 15m
LB104 - 3m @ 6.4g/t from 5m o LRC15 -1m @ 4.4g/t from 17m o LRC21 - 1m @ 3.9g/t from 29m
- Development at the Second Fortune Mine continues with surface works well advanced.
Exterra Resources Limited ("Exterra" or "the Company") (ASX:EXC) is pleased to announce that, in parallel with the previously announced mine development, a drilling programme to the south west of the Second Fortune mine has commenced to follow up high priority targets at Linden Star and Second Fortune Extension.
The targets are located less than 500m from the Second Fortune open pit. Historic costeaning, shallow drilling and sampling of old workings and mullock dumps demonstrate that gold bearing quartz structures are present along a strike length of over approximately 500m. The vein system is adjacent to one of the major bounding structures of the Laverton Tectonic Zone in an area of magnetite destruction interpreted to represent hydrothermal alteration.
Exterra's Executive Chairman, John Davis said: "The programme at Linden Star and Second Fortune Extended has the potential to outline near surface high grade gold resources to add further ounces to the Second Fortune mine development, which is progressing on track for first gold production in early 2017.
We are fortunate to have a number of highly advanced prospects within close proximity to the Second Fortune mine including Linden Star, Hill East and Golden Orb, which all have the potential capacity to add ounces to the mine development and further enhance the project economics. We look forward to reporting results when they become available."
Historic drilling results reported in WAMEX reports from 1984 and 1987 plus Exterra drilling results from 2010 and 2011 include:
Historic:LRC17 - 9m @ 7.6g/t from 25m o LB104 - 3m @ 6.4g/t from 5m o LRC15 -1m @ 4.4g/t from 17m o LRC21 - 1m @ 3.9g/t from 29m
Exterra:LNRC076 - 2m @ 4.1g/t from 14m and 1m @ 97.4g/t from 23m
LNRC106 - 5m @ 4.0g/t from 15m
The figures below illustrates the position of drill target vein system relative to the Laverton Tectonic Zone (Figure 1), the Second Fortune deposit plus the interpreted target vein position over the magnet destruction zone (Figure 2) and as a 3-D schematic diagram also showing the planned holes (Figure 3).
Figure 1: Location of Second Fortune and drilling target within Laverton Tectonic Zone Figure 2: Location of drilling target adjacent to Second Fortune over magneticsExterra Resources Limited published this content on 12 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 December 2016 01:05:03 UTC.
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