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ANGLO AUSTRALIAN RESOURCES NL - ASX: AAR
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Description
Anglo Australian Resources NL is a focused gold and base metal explorer with a portfolio of advanced and grass roots projects in Western Australia's Eastern Goldfields, Murchison, Kimberly and the Northern Territory.
In 2007 the company completed a successful gold mining operation at its Mandilla Project producing 20,619oz Au. Gold exploration continues with recent high grade intersections at Rogan Josh and Dalray prospects on our Feysville project, 25km south of Kalgoorlie's Golden Mile.
A preliminary Feasibility study was completed in October 2008 at the companies Kimberly Koongie copper - zinc project highlighting the potential to develop an underground and open pit operation producing zinc and copper concentrates from the Sandiego and Onedin prospects utilising a 500,000tpa processing plant. A resource extension RC and Diamond drilling program was completed at Koongie in November 2008 Numerous high grade copper and zinc intersections resulted from this program and resource estimates for the two deposits have been upgraded.
The new Sandiego resource estimation completed in September 2009 has increased the resource tonnes by 115% on the 2006 Mineral Resource Estimate to 3.9Mt. The new resource estimation has increased the total contained copper by 93% to 57,000t, the total contained zinc by 18% to 145,000t and the total contained silver resource by 23% to 2.4 Moz.
The new Onedin Indicated Resource estimation also completed in April 2009 represents 36,000t of contained copper metal, 140,000t of contained zinc and 3.7Moz of contained silver metal.
Current Feasibility activity has focused on maximising the value of the project's copper resources and Coffey Mining has been appointed to conduct a comprehensive review of the resource model, an examination of the conversion of resource to reserve parameters and to propose a mine plan from which plant and infrastructure requirements can be developed.
EASTERN GOLDFIELDS
Anglo Australian Resources NL has a number of quality projects located in the premier mining district of the Eastern Goldfields which have potential for gold and nickel mineralisation. The two key projects in the district are Mandilla and Feysville. At Mandilla mining of a near surface palaeochannel gold mineralisation mined by Anglo Australian Resources produced 20,619oz Au. Numerous high grade bedrock intersections testify to the bedrock potential of the project is being tested as part of the ongoing exploration on this project. The Feysville project has potential for gold and nickel mineralisation. Gold anomalies remain to be followed up. Nickel exploration following up EM conductors failed to generate further drill targets.
MURCHISON DISTRICT
The Company considers the Murchison District, which contains six more than one million-ounce gold deposits, to be an under-explored and highly prospective part of the Yilgarn province. This belief in its prospectivity, backed up by in house research, has resulted in the acquisition of three projects in the Murchison district, predominately by tenement application. Two of these areas are located on the highly prospective Big Bell shear which hosts the more than one million ounce Big Bell deposit. Negotiations with native title applicants have been completed and the majority of tenements have now been granted. First phase exploration programs consisting of literature review, prospecting and soil geochemistry have commenced.
KOONGIE PARK PROJECT
The Koongie Park project, an advanced copper - zinc project consisting of 2 mining leases, two exploration licences and 15 prospecting licences is located 25km south-west of Halls Creek in the Kimberley region of Western Australia. The Company believes the resources of the project are robust and is working towards improving the development economics of the project. In 2008 the Company completed a Pre- Feasibility Study which has demonstrated the practicability of the project and the conditions under which it will be viable. A resource extension and exploration program consisting of 7214m of RC pre-collars, 2624.2m of diamond core tails was also completed.
VICTORIA DOWNS PROJECT
Anglo Australian Resources NL is targeting sedex style base metal deposits (Zn – Pb) in the Victoria River Basin. The Victoria-Birrindudu Basin has strong affinities to the Macarthur and Nicholson Basins which host the giant Macarthur River and Century sedex style Zinc deposits. The project, located 200 km east of Kununurra (WA) and 250 km southwest of Katherine (NT), covers a sequence of Proterozoic sediments dominated by dolomitic carbonates and other fine grained sediments. The sequence is generally flat lying with an overall very shallow dip to the North East. A number of stratigraphic horizons have been identified as having potential to host sedex deposits. The project area also contains a number of galena occurrences. Lead isotope dating of these occurrences indicates the Victoria-Birrindudu Basin rocks are the same age as all the Proterozoic basins which host Australia’s largest base metal resources.
Mine For
gold, copper, zinc, lead, silver, nickel
Location of operation(s)
Western Australia, Northern Territory
Address
Ground Floor 63 Hay Street
SUBIACO, WA, AUSTRALIA
Phone
(08) 9382 8822
Website
Last Updated
05/05/2010
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.