Windarra Minerals Ltd. (WRA.V) to Drill Mishi Leases Gold Targets
09 Febbraio 2011 - 8:01PM
Marketwired
Windarra Minerals Ltd. (the "Company") (TSX VENTURE: WRA) is
pleased to announce that drilling at its 100% owned Mishi Leases
property will begin this week. The property is located
approximately 50 km west of Wawa and is accessible by an
all-weather road leading to Wesdome's Mishi-Magnacon milling
complex, which largely processes ore from Wesdome's Eagle River
mine.
Drill targets on the property are based on encouraging results
returned in a 70 line-km grid-based Induced Polarization (IP),
Magnetometer (Mag), and soil geochemical (1400 samples) survey
completed by the Company in late September-November, 2010. Other
targets were outlined in a compilation of previous work, which was
undertaken largely in the 1980's and 1990's. These earlier
programs, which also returned very encouraging results, included
stripping, trenching, channel sampling (e.g., 3.93 g/t Au over 9.9
m, 32.9 g/t Au over 3 m, 18.5 g/t Au over 4.2 m, and 1.34 g/t Au
over 10.2 m), and diamond drilling (e.g., 13.8 g/t Au over 1.5 m,
7.36 g/t Au across 4 m, 5.1 g/t Au over 6 m, 4.8 g/t Au over 4 m,
6.8 g/t Au over 2.8 m, 7.38 g/t Au over 3 m, 7.36 g/t Au over 4 m,
and 1.1 g/t over 32 m).
The previous results, which include both narrower high-grade
intervals and broad lower-grade "bulk-mineable" style intervals,
were obtained from trenches and approximately 40 drillholes
scattered along the length of the property. In addition to these
excellent results, many broad intervals in drillholes and channel
samples returned "highly anomalous" gold-bearing values. It should
also be noted that most of the drill intersections remain open
along strike and/or down-dip, and that diamond drilling was
undertaken only to relatively shallow depths.
Wesdome's Mishi Pit project
Windarra's Mishi Leases property lies less than 1 km from
Wesdome's reinvigorated Mishi Open Pit project, which itself lies
less than 2 km west of their Eagle River/Magnacon mill. Past mining
at the Mishi Pit has yielded over 15,000 ounces of gold from over
135,000 tonnes of milled open pit ore, at a recovered grade of 3.57
g/t gold. In a News Release dated November 29, 2010, Wesdome
announced the results of a positive prefeasibility study for the
Mishi Pit project, which included a significant upgrade to their
NI43-101 compliant resource estimate. The estimate included
Measured and Indicated Resources totalling 5.7 million tonnes at
2.4 g/t Au, for a total of 438,000 contained ounces of gold in
eight relatively shallow, easterly-plunging ore lenses (at a 1.0
g/t Au cut-off). Ninety percent of the resources are open-pittable,
with planned open pits reaching depths of 110 metres. Additional
Inferred Resources total 1.2 million tonnes at 3.6 g/t Au for
another 140,000 contained ounces, and according to Wesdome, there
is good potential to delineate further resources with additional
drilling, as the deposit remains open both to depth and along
strike. According to Wesdome, mineralization in the Mishi zone
consists of disseminated pyrite in sericite-ankerite alteration
zones within felsic host rocks, which are locally accompanied by
smokey grey quartz veins and veinlets.
Mishi Leases Mineralization, Geology, and Exploration
Potential
Mineralization and alteration of a similar style to that at the
Mishi deposit is common on the Mishi Leases property. Like the
Mishi deposit, the Mishi Leases lie astride a flexure in the
regional "Mishibishu deformation zone", which parallels a contact
between bimodal mafic-felsic volcanic and sedimentary rocks, and
like the Mishi deposit, the mineralized and altered zones along
this contact yield IP chargeability and gold geochemical anomalies.
Windarra's 2010 geochemical and geophysical surveys have confirmed
that much of the potential lies near to this contact, and the
surveys, along with results of previous drilling, stripping, and
channel sampling, have yielded a considerable number of
high-priority drill targets along 3 km of strike-length. The plan
in the upcoming campaign is to drill-test a combination of these
targets, including a number of the geophysical anomalies identified
along the mineralized trend in the deeper-looking IP survey
undertaken on the Mishi Leases this past fall.
This Press Release was prepared by Charles Greig, PGeo., a
Director of Windarra Minerals Ltd. and a "Qualified Person" as per
NI43-101.
On behalf of the Board of Directors
John Pallot, President
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Windarra Minerals Ltd. John Pallot President (604)
688-1508 (604) 601-8253 (FAX) info@windarra.com
www.windarra.com
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