Young explorer intersects significant high-grade mineralisation

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 02 Oct 2012   Posted by admin


MULTIPLE high-grade polymetallic intercepts from Kidman Resource’s newly acquired Home of Bullion project in Barrow Creek, Northern Territory, have increased
the project’s potential to host an open pit resource.
Assay results for the first three holes of the maiden 24 reverse circulation (RC) drill hole program, testing the main lode, have been received with the results from the remaining 21 holes pending.
Highlights included 4m grading 4.7 per cent copper, 5.1 per cent zinc, 84.6 grams per tonne of silver, 1.3 per cent lead and 0.52g/t of gold from 49m.
The results confirmed previous high grade drill intercepts at the Home of Bullion main lode, with follow up diamond drilling scheduled for mid-September.
Kidman has also initiated a detailed airborne magnetic survey to define further drill targets across the entire tenement area.
“We are very excited with the initial results,” Kidman executive director Shane Mele said.
“The high grade main lode now has an identified strike length of approximately 170 metres and potentially extends further east under cover,” he said.
“Assays are yet to be received for the separate Southern Lode located 200m south of the Main Lode.
“Within the company’s tenement there is up to 15km of potential strike to the west and east of these known high-grade lodes.”
Home of Bullion, which is adjacent to significant infrastructure, was acquired by Kidman in April this year.
The maiden RC drilling program was designed to test for extensions of previously reported high grade drill intercepts from the 1950s.
The exploration license covers about 137.5 square kilometres; the potential for extensions of the known mineralised lenses remains open with extensions under shallow alluvial cover to the east and west.


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