News-Down Plunge Extension of Woodlawn MineralisatDown Plunge Extension of Woodlawn Mineralisation Confirmed in Latest Drill Hole
09:20 EST Thursday, Jul 12, 2012
FSC / Press Release
Down Plunge Extension of Woodlawn Mineralisation Confirmed in Latest Drill Hole
Aurora, Ontario CANADA, July 12, 2012 /FSC/ - TriAusMin Limited (ASX:TRO; TSX:TOR) ("TriAusMin" or the "Company") is pleased to announce that the recently completed drilling program at Woodlawn has confirmed that the high-grade ore lenses previously mined continue down plunge below the former mine workings and has also identified a previously unknown geophysical conductor that may represent a new ore lens at a shallower depth. The last drill hole of the current program, WLTD012, intersected mineralisation in the I, J and C-lenses. Assays for this hole have not yet been received, however, the grades are expected to be lower than in the first three holes.
Wayne Taylor, CEO and Managing Director of TriAusMin said "We are very pleased with the results of this drilling program as it clearly indicates that significant high-grade mineralisation extends to depth below the old mine workings which has the potential to allow for the re-opening of this past-producing underground mine. The next phase of the project will be to begin the process of defining the resources that can be used to support a pre-feasibility study."
The 100%-owned Woodlawn property is located approximately 250 km southwest of Sydney in NSW, Australia.
Woodlawn Underground Project - Drilling Program
The focus of this drilling program was on confirming the potential for defining 6 to 7 million tonnes (Exploration Target(1)) of high grade mineralisation in an area 200 metres below the previously mined ore lenses. The drill program which consisted of four drill holes totalling approximately 3,024 metres (Table 1) confirmed that the I, D, B and C lens mineralisation does extend to a depth below the previous mining areas. The results of holes WLTD011, WLTD011W1 and WLTD011W2 were reported in news releases dated April 2 and May 10, 2012. The best intersections obtained in these holes were:
WLTD011:
9.9m @ 1.64% Cu, 1.22% Pb, 6.09% Pb, 14g/t Ag, 0.72g/t Au (I Lens)
12.1m @ 4.84% Cu, 15g/t Ag (B Lens)
WLTD011W1:
14.5m @ 3.66% Cu, 3.71% Pb, 11.72% Zn, 121g/t Ag, 1.92g/t Au (I Lens)
7.3m @ 1.86% Cu, 1.82% Pb, 6.08% Zn, 54g/t Ag, 2.89g/t Au (I2 Lens)
8.0m @ 1.18% Cu, 3.88% Pb, 10.67% Zn, 57g/t Ag, 0.60g/t Au (D Lens)
WLTD011W2:
9.0m @ 2.92% Cu, 4.64% Pb, 8.61% Zn, 167g/t Ag, 2.07g/t Au (I Lens)
8.9m @ 2.70% Cu, 3.02% Pb, 6.34% Zn, 71g/t Ag, 1.24g/t Au (I2 Lens)
These holes extend the B lens, I lens and D lens by 125 m, 230 m, and 350 m respectively below the deepest previously mined stopes.
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1 The Exploration Target is conceptual and, to date, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. The Exploration Target assumes the continuation of down dip mineralisation and is based on the historical mine production (13 Mt @ 9.8% Zn, 1.6% Cu, 3.6% Pb, 74g/t Ag & 0.52g/t Au) and the remaining Measured, Indicated & Inferred Resource (10 Mt @ 10.2% Zn, 1.8% Cu, 4.0% Pb, 84 g/t Ag & 0.51g/t Au) to the 2150m RL.
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Hole WLDT012 intersected the I, J and C lenses below the limits of the former mine workings. The mineralised intervals were 13.9 metres, 3.9 metres and 41.5 metres respectively. Assay results for these holes will be reported once they are all received, however, the grades are expected to be lower than in the first three holes. Importantly this hole has confirmed the down plunge continuation of these lenses which remain open to depth.
A down hole electromagnetic survey was carried out in hole WLTD012 and has identified an off-hole conductor interpreted by Mitre Geophysics to be located at a depth of approximately 300 metres in a previously undrilled area between the D lens and the H lens (Figure 1). This conductor may represent a new mineralised lens and is a priority target for the next phase of drilling.
Figure 1: Long-section through D and H Lenses showing the position of the new DHEM modelled plate
To view Figure 1, click onto the link below or copy and paste into your browser:
www.usetdas.com/maps/triausmin/torjuly12002.jpg
Woodlawn Project Background
The Woodlawn Project is based at the former Woodlawn Mine located 30 kilometres south of Goulburn and 250 kilometres southwest of Sydney, where the Company holds two significant polymetallic resource-based assets; the Woodlawn Underground Project ("WUP") and the Woodlawn Retreatment Project ("WRP").
During production from 1978 to 1998, the Woodlawn open pit and underground mine produced approximately 13.4 million tonnes of high-grade zinc, lead and copper ore from a number of separate, fault-bounded massive sulfide zones mined to a maximum depth of 630 metres below surface. A JORC Measured (42% by tonnage) and Indicated (58% by tonnage) Resource2(b) of 8.6 million tonnes grading 10.28% zinc, 4.00% lead, 1.8% copper, 84g/t of silver and 0.5g/t of gold exists within the vicinity of the historic mining operations.
The WUP involves the delineation of new resources and the evaluation of the remaining underground Resource for potential redevelopment of the Woodlawn Mine. The initial focus of the program is the exploration for new resources on the down-plunge extensions of the historically mined ore lenses.
The WRP involves the recovery and reprocessing of tailings produced from the previous Woodlawn Mine. The tailings contain a Reserve2(c) of 11.2 million tonnes grading 2.2% zinc, 1.3% lead, 0.5% copper, 31g/t silver and 0.3g/t gold. On March 22nd 2012, the Company announced its intention to proceed with the development of the WRP as a result of a detailed metallurgical, engineering and costing study and supported by a strongly positive business case. In addition to the WRP, it is expected that the WUP will provide a significant high grade growth project to add to the Company's development plans.
About TriAusMin
TriAusMin is engaged in the exploration and development of base and precious metals deposits in the Lachlan Fold Belt of New South Wales, Australia. TriAusMin's projects include the Woodlawn Project, the Lewis Ponds Project located near Orange, 200 kilometres west of Sydney, as well as a number of other quality exploration properties.
For further information, please visit www.triausmin.com or contact:
Australia:
Mr Wayne Taylor, Managing Director and Chief Executive Officer
Tel: +61 02 9299 7800 (Sydney) inquire@triausmin.com
Canada:
Tel: +1 905 727 8688 (Toronto) info@triausmin.com
2. Competent Person/Qualified Person
(a) The technical information in this news release relating to the exploration results at the Woodlawn Project is based on information compiled by Mr Erik Conaghan, who is a Member of the Australasian Institute of Geoscientists. Mr Conaghan is a full-time employee of TriAusMin Limited and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results and "qualified person" as this term is defined in Canadian National Instrument 43-101 ("NI 43-101"). Mr Conaghan consents to the inclusion in this news release of the information in the form and context in which it appears.
(b) The technical information in this news release relating to the Woodlawn Mineral Resources is based on information compiled by Mr Robin Rankin, who is a Member of The Australasian Institute of Mining And Metallurgy (AusIMM) and accredited by the AusIMM since 2000 as a Chartered Professional (CP) in the geology discipline. Mr Rankin consultants to TriAusMin Limited as Principal Consulting Geologist of independent geological consultancy GeoRes. He has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the "Australasian Code for Reporting of Exploration Results and "qualified person" as this term is defined in Canadian National Instrument 43-101 ("NI 43-101"). Mr Rankin consents to the inclusion in this news release of the information in the form and context in which it appears.
(c) The information in this release that relates to Mineral Resources or Ore Reserves associated with the Woodlawn Retreatment Project is based on information compiled by qualified person, Mr Richard Lambert, P.E. a professional engineer and Registered Member of SME. Mr Richard Lambert is Principal Mining Engineer and Executive Vice President of Roscoe Postle Associates, Inc. He is independent of TriAusMin applying the test set out in Section 1.4 of NI 43-101. He has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code) and by reason of his education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, fulfils the requirements to be a "qualified person" for the purposes of NI 43- 101.
2. Assay Sampling Information
HQ and NQ drill core was half-cored on site and submitted to ALS Laboratories Orange. Gold analyses were completed using a 30g charge fire assay with an AA finish (method Au-AA25) and base metals completed using aqua-regia digest with an ICP finish (method ME-ICP41). Over-range samples were re-assayed by ore grade methods (OG-46). Certified standards are routinely inserted into every sample batch for QA/QC purposes.
Table 1: 2012 WUP diamond drill hole specifications
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Hole ID East North RL Final Dip Azimuth
Hole (Mine (Mine (Mine Depth (degrees) (mine
Type Grid) Grid) Grid) (m) grid)
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WLTD011 primary 8680.71 19729.46 2786.99 937.1 -75 80.5
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WLTD011W1 wedge 8680.71 19729.46 2786.99 1001.0 -75 80.5
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WLTD011W2 wedge 8680.71 19729.46 2786.99 780.8 -75 80.5
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WLTD012 primary 8887.98 19377.75 2792.64 974.3 -70 80.0
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To view this press release as a web page, click onto the link below:
www.usetdas.com/PR/triausmin12072012.htm
Source: TriAusMin Limited (TOR-TSX) www.triausmin.com
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