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SOUTH BOULDER MINES LTD - ASX: STB
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Description
South Boulder Mines Ltd aim is to maximise shareholder wealth through the acquisition, exploration and development of quality resource projects in Western Australia and Eritrea. South Boulder Mines Ltd has a 100% interest in the Duketon Project in Western Australia. The Duketon Project is considered prospective for gold, nickel and base metals.
Gold: Thomson’s Bore
The Thomson’s Bore Prospect, within South Boulder’s E38/1537 permit, is located approximately 5 kilometres southwest of the Company’s The Bulge nickel discovery, in Western Australia’s Duketon Belt.
Initial aircore drill tests returned encouraging results in 2007 with subsequent re-sampling further increasing the Company’s confidence in the resource. Second phase aircore drilling in early 2008 to test the Prospect along strike to the north and south has defined the mineralised gold envelope to be over 700 metres by 200 metres. Two distinct gold corridors are evident, remaining open along strike and depth. Further aircore drilling is planned to advance the resource prior to South Boulder embarking on a reverse circulation drilling program.
Gold: Henry’s Bore
The Henry’s Bore Prospect within South Boulder’s E38/1793 permit, is located in the Duketon Belt, Western Australia. Aircore drilling in 2007 targeted the buried southern strike extension of this historic gold mineralisation. Results of the 1 metre re-splits collected during the drilling program returned significant results. Drilling in 2008, to further define the mineralisation, will commence when a suitable is rigged is sourced.
Nickel: The Bulge
The Bulge Prospect is located within South Boulder’s E38/1537 permit, along with Camp Oven and Bandya Prospects. The permit is in the Duketon Greenstone Belt, 100 kilometres northwest of Laverton, Western Australia.
The Bulge is a northwest striking, s-shaped body of ultramafic rock approximately 15 kilometres south-southeast and along strike of Camp Oven. Aircore and reverse circulation drilling at The Bulge in 2007 confirmed the presence of nickel sulphide mineralisation associated with platinum group element anomalism.
In the third quarter of 2007 a 101 hole aircore drilling program was completed to test the depth and strike of the mineralisation and test for new areas. Results were encouraging and a large reverse circulation drilling program is planned for 2008.
Nickel: Camp Oven
The Camp Oven Prospect is located within South Boulder’s E38/1537 permit, along with The Bulge and Bandya Prospects. The permit is in the Duketon Greenstone Belt, 100 kilometres northwest of Laverton, Western Australia. Camp Oven is approximately 15 kilometres north-northwest and along strike of The Bulge.
First pass geochemical soil sampling returned very encouraging results and highlighted anomalous nickel, copper, platinum and palladium associated with an ultramafic unit.
Rock chip sampling in the area also confirmed the presence of cumulus nickel copper sulphides. An Induced Polarisation (IP) survey delineated two strong coincident IP anomalies with a combined strike length of approximately 800 metres.
Reverse circulation drilling is planned to test for the primary source of this nickel anomalism.
Nickel: Bandya
The Bandya Prospect is located within South Boulder’s E38/1537 permit, along with The Bulge and Camp Oven Prospects. The permit is in the Duketon Greenstone Belt, 100 kilometres northwest of Laverton, Western Australia. Modelling of TEM survey data has outlined a strong bedrock conductor indicative of sulphides. Reverse circulation drilling is planned.
Fertilizer: Cardabia
South Boulder’s 100% owned Cardabia Phosphate Project is located approximately 200 kilometres north-north east of Carnarvon, Western Australia. The Project comprises three contiguous exploration licences E08/1850, E08/1855, E08/1856 covering around 1,384 square kilometres of prospective phosphate bearing stratigraphy within the northern Carnarvon Basin.
A review of available data has outlined excellent results by previous explorers with grades of up to 49% Phosphate, and numerous grades within the 25% - 30% Phosphate range from +5 millimetre samples fraction obtained from drilling.
Fertilizer: Lake Disappointment
South Boulder’s 100% owned Lake Disappointment Potash Project is located in the Gibson Desert in Western Australia, approximately 400 kilometres from Newman.
The project comprises a single exploration licence application E45/3122a covering around 572 square kilometres over the same lacustrine system which contains Reward Minerals Limited’s JORC compliant potash resource. South Boulder’s licence is immediately east of and adjacent to Reward’s project area.
The project area contains two key target lacustrine systems covering in excess of 80 square kilometres of prospective drainage.
Upon grant of the licence South Boulder intends to commence exploration efforts to determine the potential for the project to contain an economic potash resource.
Eritrean Potash: Overview
The Project consists of buried evaporite deposits in which two shallow potash bearing horizons were identified from historic diamond drilling conducted in 1968 by the former Ethiopian Potash Company (EPC). The first horizon intersected an average thickness of 1.7m sylvinite with average grades of 12.5% K2O at depths to the top of the horizon ranging from 23m – 180m. The second horizon intersected an average thickness of 17m carnallite with average grades of 50 - 70wt% *(~17% K2O) at depths to the top of the horizon at 390m.
Mine For
gold, nickel, potash, phosphate
Location of operation(s)
Western Australia, Eritrea
Address
31 Ventnor Ave
WEST PERTH, WA, AUSTRALIA
Phone
(61 8) 6315 1444
Website
http://www.southbouldermines.com.au
Last Updated
3/8/2011
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.
