For personal use only
4th February 2022
ASX ANNOUNCEMENT
LONELY MINE GOLD PROJECT
TIBERIUS PROSPECT DRILLING RESULTS
HIGHLIGHTS
- New zone of mineralisation identified from surface mapping confirmed at depth from diamond drilling program
- Significant intercepts include:
- 10.43m @ 2.5 g/t Au from 128.48m in hole TDD06 (including 0.7m @ 10.02 g/t and 2.3m @ 5.7 g/t Au)
- 5.17m @ 3.68 g/t Au from 146.18m in hole TDD06
- 13.96m @ 3.61 g/t Au from 172.18m in hole TDD06
Ragusa Minerals Limited (ASX: RAS) ("Ragusa" or "Company") is pleased to advise that the laboratory analysis results from the diamond drilling works at the Tiberius prospect - part of the Company's 100% owned Lonely Mine Gold Project ("Project") in Zimbabwe - have been received, with the compilation of the drilling results and project data now complete.
The Company conducted a diamond drilling program comprising eight drill-holes, with 1236.64m drilled. Final assay results were recently received, with the Company's independent technical consultants having since reviewed the data collected to date and provided a summary report on the project. The report provides the context of existing known mineralisation in correlation with the results from the diamond drilling works, and also the overall prospectivity assessment of the Tiberius prospect.
The drilling program was designed to target extensions of mineralisation identified from the Company's prior phases of work, including surface mapping, trenching, geophysical surveying (ground magnetics and induced polarisation), and underground mapping and sampling from underground levels 1 and 2 of the historic Tiberius workings.
Results have identified an additional zone of mineralisation hosted within an andesitic basalt adjacent to the main mineralised quartz carbonate vein mineralisation, identified within the historic Tiberius underground workings.
Mineralisation appears to be contained within disseminated sulphides identified within the andesitic host rock, most likely sourced from the same shear zone and mineralising fluids that make up the contact between the andesite and the adjacent limburgitic basalt - host to the quartz carbonate gold bearing veins targeted in the historic Tiberius workings.
Significant intercepts from the drilling were as follows:
TDD06: 10.43m @ 2.5g/t Au (128.48-138.91m), 0.5m @ 4.59g/t Au (142.08-142.58m),5.17m @ 3.68g/t Au (146.18-154.48m) and 13.96m @ 3.61g/t Au (172.18-191.48m);
TDD01: 0.66m @ 3,87g/t Au (227.84-228.5m);
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ASX ANNOUNCEMENT | ASX | RAS |
TDD02: 3.6m @ 1.08g/t Au (160.53-164.28m);
TDD03: 1.83M @ 2.3g/t Au (247.73-249.56m).
Ragusa Chairperson, Jerko Zuvela said "This is a significant milestone for the continued development of our Lonely Mine Gold Project. The drilling results have identified an additional zone of mineralisation at the Tiberius prospect, and we look forward to determining the scale and nature of our project."
The Company's independent technical consultants concluded that the geological setting of this property has significant potential for the development of an economic gold deposit, noting further exploration is necessary to advance the understanding of the property.
Figure 1. Lonely Mine Gold Project - TDD06 Mineralised Zone with Assay Grades
Figure 2 shows a conceptual cross-section to demonstrate the mineralisation described above (note: not all results shown).
Figure 2. Lonely Mine Gold Project - Conceptual Cross-Section of Tiberius Prospect exploration works
Significant intersections from the Tiberius diamond drilling program included those from drill-holes TDD01, TDD02, TDD03, TDD06 and TDD08. Table 1 (below) lists the significant intercepts of the diamond
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For personal use only
drilling results, and Table 2 shows drill-hole locations and details. A full list of assay results is listed in Appendix A.
GRADE | WEIGHTED AVERAGE GRADE | |||||||||||||||||||
HOLE ID | SAMPLE ID | FROM (m) | TO (m) | INTERVAL (m) | (g/t) | (g/t) | ||||||||||||||
TDD 01 | SN 217 | 227.84 | 228.50 | 0.66 | 3.87 | 0.66m @ 3.87 g/t Au | ||||||||||||||
SN 227 | 241.80 | 242.55 | 0.75 | 1.38 | 0.75m @ 1.38g/t Au | |||||||||||||||
SN 052 | 152.13 | 153.13 | 1.00 | 2.25 | 1m @ 2.25g/t Au | |||||||||||||||
SN 061 | 160.53 | 161.28 | 0.75 | 0.34 | ||||||||||||||||
TDD 02 | SN 062 | 161.28 | 162.28 | 1.00 | 0.92 | 3.6m @ 1.08g/t Au | ||||||||||||||
SN 063 | 162.28 | 163.28 | 1.00 | 1.35 | ||||||||||||||||
SN 053 | 163.43 | 164.28 | 0.85 | 1.73 | ||||||||||||||||
SN 118 | 64.43 | 64.91 | 0.48 | 1.29 | 0.48m @ 1.29 g/t Au | |||||||||||||||
TDD 03 | SN 074 | 89.00 | 90.00 | 1.00 | 3.60 | 1m @ 3.6 g/t Au | ||||||||||||||
SN 138 | 247.73 | 248.58 | 0.85 | 2.04 | 1.83m @ 2.3g/t Au | |||||||||||||||
SN 146 | 248.58 | 249.56 | 0.98 | 2.55 | ||||||||||||||||
SN 308 | 99.18 | 100.18 | 1.00 | 5.16 | 1m @ 5.16 g/t Au | |||||||||||||||
SN 019 | 128.48 | 129.18 | 0.70 | 10.02 | ||||||||||||||||
SN 021 | 130.23 | 131.08 | 0.85 | 0.79 | ||||||||||||||||
SN 022 | 131.08 | 131.71 | 0.63 | 4.88 | ||||||||||||||||
SN 027 | 131.71 | 132.56 | 0.85 | 5.23 | ||||||||||||||||
SN 028 | 132.56 | 133.41 | 0.85 | 3.11 | 10.43m @ 2.5g/t Au | |||||||||||||||
SN 029 | 133.41 | 134.06 | 0.65 | 1.11 | ||||||||||||||||
SN 031 | 134.06 | 134.96 | 0.90 | 0.57 | ||||||||||||||||
SN 032 | 134.96 | 135.91 | 0.95 | 0.90 | ||||||||||||||||
SN 023 | 137.18 | 137.91 | 0.73 | 3.22 | ||||||||||||||||
SN 024 | 137.91 | 138.91 | 1.00 | 3.98 | ||||||||||||||||
SN 026 | 142.08 | 142.58 | 0.50 | 4.59 | 0.5m @ 4.59 g/t Au | |||||||||||||||
TDD 06 | SN 033 | 146.18 | 146.98 | 0.80 | 4.00 | |||||||||||||||
SN 034 | 146.98 | 147.58 | 0.60 | 3.27 | ||||||||||||||||
SN 036 | 148.28 | 149.18 | 0.90 | 1.93 | 5.17m @ 3.68 g/t Au | |||||||||||||||
SN 037 | 150.68 | 151.68 | 1.00 | 3.55 | ||||||||||||||||
SN 048 | 152.61 | 153.61 | 1.00 | 6.72 | ||||||||||||||||
SN 049 | 153.61 | 154.48 | 0.87 | 2.15 | ||||||||||||||||
SN 038 | 163.41 | 164.31 | 0.90 | 1.42 | 1.77m @ 1.14 g/t Au | |||||||||||||||
SN 039 | 164.41 | 165.28 | 0.87 | 0.86 | ||||||||||||||||
SN 041 | 169.73 | 170.53 | 0.80 | 1.14 | 0.8m @ 1.14 g/t Au | |||||||||||||||
SN 042 | 172.18 | 173.18 | 1.00 | 5.27 | ||||||||||||||||
SN 043 | 173.18 | 173.88 | 0.70 | 7.65 | ||||||||||||||||
SN 044 | 173.88 | 174.83 | 0.95 | 2.64 | 13.96m @ 3.61 g/t Au | |||||||||||||||
SN 001 | 174.95 | 175.80 | 0.85 | 0.29 | ||||||||||||||||
SN 002 | 175.80 | 176.80 | 1.00 | 2.20 |
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only | SN 003 | 176.80 | 177.55 | 0.75 | 1.63 | ||||||||||||
SN 004 | 177.55 | 178.47 | 0.92 | 1.48 | |||||||||||||
SN 006 | 178.47 | 179.47 | 1.00 | 6.74 | |||||||||||||
SN 007 | 179.47 | 180.39 | 0.92 | 2.51 | |||||||||||||
SN 008 | 180.39 | 181.39 | 1.00 | 3.67 | |||||||||||||
SN 009 | 181.39 | 182.39 | 1.00 | 6.65 | |||||||||||||
SN 011 | 182.74 | 183.54 | 0.80 | 1.65 | |||||||||||||
SN 012 | 183.54 | 183.99 | 0.45 | 4.25 | |||||||||||||
use | SN 013 | 183.99 | 184.99 | 1.00 | 4.10 | ||||||||||||
SN 014 | 184.99 | 185.69 | 0.70 | 5.62 | |||||||||||||
SN 016 | 185.14 | 186.14 | 1.00 | 1.56 | |||||||||||||
SN 046 | 190.68 | 191.48 | 0.80 | 3.68 | 0.8m @ 3.68g/t Au | ||||||||||||
SN 189 | 109.02 | 109.52 | 0.50 | 3.39 | |||||||||||||
TDD 08 | SN 191 | 109.52 | 110.39 | 0.87 | 0.47 | 2.29m @ 1.34 g/t Au | |||||||||||
SN 192 | 110.39 | 111.31 | 0.92 | 1.05 |
personal | Table 1. Lonely Mine Gold Project - Significant Intersections from Diamond Drilling Results | ||||||||
Appendix A: | |||||||||
The following information is provided to ensure compliance with the JORC Code (2012) and ASX Listing | |||||||||
Rule 5.7 requirements for the reporting of Exploration Results for the Chulitna Project. Please also refer to | |||||||||
JORC Table 1 below. | |||||||||
UTM Arc 1950 | UTM Arc 1950 | ||||||||
Borehole ID | Easting (m) | Northing (m) | Elevation (m) | Azimuth (˚) | Dip (˚) | E.O.H (m) | |||
TDD01 | 679768 | 7842898 | 1221 | 320 | -60 | 251.18 | |||
TDD02 | 679691 | 7842831 | 1220 | 310 | -60 | 164.28 | |||
TDD03 | 679674 | 7842930 | 1220 | 180 | -70 | 125.28 | |||
TDD04 | 679715 | 7842914 | 1221 | 190 | -70 | 112.98 | |||
TDD05 | 679802 | 7842858 | 1220 | 195 | -60 | 80.18 | |||
TDD06 | 679500 | 7842915 | 1219 | 95 | -60 | 203.18 | |||
For | TDD07 | 679530 | 7842845 | 1218 | 130 | -60 | 155.18 | ||
TDD08 | 679608 | 7843010 | 1218 | 140 | -60 | 144.38 | |||
Table 2. | Lonely Mine Gold | Project - Diamond | Drill-hole Details |
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Figure 3. Lonely Mine Gold Project -Tiberius Prospect Drill-hole Plan.
Full list of assay results:
HOLE ID | BOX NUMBER | SAMPLE ID | FROM (m) | TO (m) | INTERVAL (m) | ASSAY (g/t) |
TDD 01 | 33 | SN 194 | 154.11 | 154.54 | 0.43 | <0.02 |
TDD 01 | 33 | SN 196 | 155.34 | 156.04 | 0.70 | <0.02 |
TDD 01 | 33 | SN 197 | 158.18 | 158.85 | 0.67 | <0.02 |
TDD 01 | 34 | SN 198 | 158.85 | 159.49 | 0.64 | <0.02 |
TDD 01 | 34 | SN 199 | 159.49 | 160.05 | 0.56 | <0.02 |
TDD 01 | 34 | SN 201 | 160.05 | 160.42 | 0.37 | 0.02 |
TDD 01 | 38 | SN 202 | 176.08 | 176.98 | 0.90 | 0.02 |
TDD 01 | 38 | SN 203 | 178.18 | 178.78 | 0.60 | 0.02 |
TDD 01 | 41 | SN 204 | 189.27 | 189.85 | 0.58 | 0.20 |
TDD 01 | 41 | SN 206 | 190.18 | 190.75 | 0.57 | 0.03 |
TDD 01 | 47 | SN 207 | 219.98 | 220.88 | 0.90 | <0.02 |
TDD 01 | 47 | SN 208 | 220.88 | 221.66 | 0.78 | 0.02 |
TDD 01 | 47 | SN 209 | 221.66 | 222.58 | 0.92 | 0.04 |
TDD 01 | 48 | SN 211 | 222.58 | 223.42 | 0.84 | T/F |
TDD 01 | 48 | SN 212 | 223.42 | 224.42 | 1.00 | 0.03 |
TDD 01 | 48 | SN 213 | 224.63 | 225.54 | 0.91 | 0.16 |
TDD 01 | 48 | SN 214 | 225.54 | 226.48 | 0.94 | 0.34 |
TDD 01 | 49 | SN 216 | 226.48 | 227.18 | 0.70 | 0.36 |
TDD 01 | 49 | SN 217 | 227.84 | 228.50 | 0.66 | 3.87 |
TDD 01 | 49 | SN 218 | 228.50 | 229.05 | 0.55 | 0.23 |
TDD 01 | 49 | SN 219 | 229.33 | 230.18 | 0.85 | 0.17 |
TDD 01 | 49 | SN 221 | 230.18 | 230.76 | 0.58 | 0.03 |
TDD 01 | 51 | SN 222 | 237.01 | 237.93 | 0.92 | 0.12 |
TDD 01 | 51 | SN 223 | 237.93 | 238.88 | 0.95 | 0.03 |
TDD 01 | 51 | SN 224 | 238.88 | 239.61 | 0.73 | 0.34 |
TDD 01 | 52 | SN 226 | 240.84 | 241.80 | 0.96 | 0.22 |
TDD 01 | 52 | SN 227 | 241.80 | 242.55 | 0.75 | 1.38 |
TDD 01 | 52 | SN 228 | 242.55 | 243.47 | 0.92 | 0.28 |
TDD 01 | 52 | SN 229 | 243.47 | 244.36 | 0.89 | 0.09 |
TDD 01 | 52 | SN 231 | 244.36 | 245.18 | 0.82 | 0.08 |
TDD 02 | 6 | SN 147 | 28.78 | 29.08 | 0.30 | <0.02 |
TDD 02 | 6 | SN 148 | 30.52 | 31.12 | 0.60 | 0.02 |
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Ragusa Minerals Ltd. published this content on 03 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2022 22:35:09 UTC.