OVERLAND RESOURCES LIMITED - ASX: OVR

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Description

Overland Resources Limited (Overland Resources) is an Australian based minerals exploration and development company that has a geographic focus in Canada. The Company’s primary objective is to deliver long-term shareholder value by rapidly becoming a mid-tier resource company. The Company strives to achieve this through the discovery, acquisition and development of economic mineral deposits.

Yukon Base Metal Project:

Overland has secured the option to acquire a 90% interest in mineral claims covering more than 60km2 within the high prospective Selwyn Basin, Yukon Territory, Canada. Included in this land package is high-grade Andrew Zinc Deposit. The project is approximately 110 kilometres north of the town of Faro.

The mineralisation of the Andrew Base Metals Project is hosted within sediments of the Palaeozoic Selwyn Basin, considered to have excellent exploration potential for SEDEX, VHMS and MVT deposits. SEDEX deposits are known to occur at three separate time horizons and include Howards Pass – the world’s largest known SEDEX deposit, 476Mt @ 5% Zn, 2% Pb, 9g/t Ag.

The Selwyn Basin contains a thick sequence of shelf and off-shelf continental margin sediments formed along the ancient North American Craton. These sediments have undergone emplacement of the late Cretaceous Tombstone Intrusive Suite that represents part of the Tintina Gold Belt; an arcuate belt extending from south-western Alaska, through Fairbanks, and southwards beyond the Yukon – British Columbia Border. Despite the excellent potential of this area, much of the basin is under-explored.

Between 1999 and 2002 the Andrew Zinc Project and the Myschka Copper-Gold Project were soil and rock chip sampled, returning highly anomalous results. Both projects were advanced to drill-ready stage. Drilling only occurred on the Andrew Zinc Project will drilling concentrated on a 500m zone at the western end of a 2000m zinc is soil geochemistry anomaly. Part of a portion of the Andrew Project was drilled in 2001 and 2002 by Noranda Inc.

The Scott Lead-Zinc Project consists of two mineralised showings that have been sparsely sampled. Despite promising assay results no further work was carried out in the area. Literature on past exploration and assay results from the Atlas Zinc-Lead Project is currently under review.

Mine For

nickel, zinc, lead

Location of operation(s)

Canada, New Zealand, Victoria

Address

Level 2, 675 Murray St
WEST PERTH, WA, AUSTRALIA

Phone

(08) 9226 5566

Email

Website

http://www.overlandresources.com/

Last Updated

05/03/2010