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ANCHOR RESOURCES LIMITED

ASX: AHR

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Anchor Resources is a mineral explorer with a diversified portfolio of highly prospective projects located throughout New South Wales and Queensland. This portfolio provides exposure to a broad range of commodities including gold, antimony, copper, and uranium, as well as other base metals. Exploration has been in progress since 2005 and an antimony resource with gold and tungsten credits has already been outlined at our 100% owned Bielsdown project. The value of this resource is enhanced by the strength of the global antimony price over past years.

The Anchor team is also evaluating project opportunities, both within Australia and offshore, with the potential to move the company closer to producer status. New Caledonia has been identified as a country with significant mineral wealth and project opportunities. Anchor is currently evaluating a number of project opportunities on the Pacific island nation.

Bielsdown EL6388 – north of Dorrigo, NSW

* 100% owned by Anchor Resources
* Wild Cattle Creek is an advanced antimony project with tungsten and gold credits
* Ten hole drilling program completed in August 2009 to expand the resource at depth and along strike
* 2009 JORC (inferred) resource upgrade 880,000t at 2.0% Sb using a 0.5% Sb cutoff grade (contained metal 17,500t Sb) by SRK Consulting
* A further 12 hole drilling program was completed in the first half of 2010 to extend known mineralisation
* 2010 JORC (indicated and inferred) resource upgrade 1,060,000t at 1.8% Sb using a 0.5% cutoff grade (contained metal 18,700t Sb)
* Metallurgical tests suggest recoveries of >90% Sb and concentrate grade >60% are achievable
* A scoping study released early 2011 indicates that positive financial returns are achievable from the project

Blicks EL6465 – northwest of Dorrigo, NSW

* 100% owned by Anchor Resources
* Anchor Resources identified two immediate targets for drilling
* Targetting gold, copper and molybdenum in an intrusion related model
* Dundurrabin previous drilling includes 18.1m at 1.23% copper and 33.9m at 1.27% copper
* Tyringham previously drilled with substantial thicknesses of low grade gold mineralisation (up to 96m at 0.23g/t Au)
* Initial Anchor drilling (RC) at Dundurrabin and Tyringham completed mid 2008

Birdwood EL6459 – west of Wauchope, NSW

* 100% owned by Anchor Resources
* Extensive hydrothermal system of gold, copper and molybdenum mineralisation
* Drill intercepts include 12.8m at 0.79% copper
* Our re-interpretation suggests sheeted vein style mineralisation related to buried intrusions
* Heli-borne geophysical survey (magnetics and radiometrics) completed by GPX Aeroscience.
* Anchor consultants have completed the interpretive phase and target generation.
* Joint venture partners are being invited to progress the drill testing of this project

Thunderbolts EL7184 and Munga EL7185 – northeast NSW

Two Exploration Licences (see Figure) were granted to Anchor (100%) on 31 July 2008, by the NSW Department of Primary Industries, covering two old antimony producing areas. These licences, to be known as the Thunderbolts and Munga Projects, are highly prospective for primary antimony mineralisation. The antimony focus returned to the New England region of New South Wales over recent years as Straits Resources commenced development of its Hillgrove underground antimony-gold mine.

Canonba - NSW

Anchor Resources Ltd’s exploration team in 2007 recognised an important corridor of copper mineralisation in northwestern New South Wales. This is a northeast-southwest trending zone which encompasses the Canbelego, Tritton and Girilambone mines, as well as the recent Larsens and Budgery copper discoveries.

Chillagoe Uranium Project - QLD

* 100% owned by Anchor Resources
* High prospectivity for discovery of economic uranium, based on analogies with Maureen and Ben Lomond (both in Qld), Spor Mountain and Marysvale (USA)
* Several epithermal uranium showings and untested radiometric anomalies

Greenvale East EPM14646 – northeast of Greenvale, Qld

* 100% owned by Anchor Resources
* At least 10 areas of known mineralisation including gold, tin and tungsten
* Anchor Resources has identified an extensive, unexplored alteration system around historical surface tin workings
* Also identified is a magnetic anomaly coincident with previous gold workings
* Use geological mapping, geophysics and geochemistry to prioritise, then drill targets
* In August 2007, Anchor Resources was successful in obtaining a grant from the Queensland Department of Mines and Energy via its “Collaborative Drilling Initiative” in which it will provide $51,000 of funding (on a 50:50 basis) towards drilling of this highly prospective coincident gold and magnetic anomaly.
* First round of drilling was completed June 2008 and Anchor was successful in making a new gold-copper discovery at the Clayholes Dam prospect.
* Further geological mapping, soil and rockchip sampling has been carried out in 2009/2010 focusing on the Wolfram Hill (tungsten), Perry Creek (tin-tungsten), Clayholes Dam (gold-copper) and Jacks Creek (gold-antimony) prospects.
* Encouraging rockchip tungsten results have been received from historical surface workings at Wolfram Hill over more than 200m. This prospect is underexplored and has never been drilled.

Mine For

antimony, gold, tungsten, bismuth, copper, silver, molybdenum, uranium

Location of operation(s)

New South Wales, Queensland

Address

6 Chepstow Drive
Castle Hill, NSW, AUSTRALIA. 2154

Phone

61 2 8987 3710

Email

Website


Last Updated

14/07/2014

 

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.