New Age Exploration Ltd. (ASX:NAE) announced results from the first 10 holes completed as part of a Phase I diamond drill program at its Redmoor tin-tungsten program. The company is completing the program in partnership with Strategic Minerals Plc (LSE:SML) through Cornwall Resources Ltd., their joint venture vehicle.
As quoted in the press release:
- Encouraging results from discrete high-grade zones within the Sheeted Vein System (SVS) with thicknesses and grades exceeding expectations of NAE’s Directors. Significant SVS high-grade zone intercepts include:
- CRD007: 14.8 m @ 1.00 % SnEq from 245.7 m, including 2.5 m @ 3.39 % SnEq from 257.9 m
- CRD009: 17.5 m @ 0.68 % SnEq from 265.9 m, including 3.1 m @1.97 % SnEq from 280.3 m
- CRD009: 28.2 m @ 0.81 % SnEq from 298.8 m, including 7.0 m @1.89 % SnEq from 317.5 m
- CRD010: 11.1 m @ 0.57 % SnEq from 113.3 m, including 3.1 m @1.19 % SnEq from 121.3 m
Gary Fietz, managing director at New Age Exploration, commented:
The initial 10 holes drilled at Redmoor this year include a number of encouraging intercepts with excellent thicknesses and grades from high-grade zones within the SVS. We have re-focused Phase 2 of the drilling program on further definition of high-grade zones within the SVS which we believe are a superior underground mining target than the high-grade lodes targeted by the earlier Phase 1 holes. We look forward to updating the market on the remaining Phase 1 and Phase 2 drilling results in quarter 4 this year and on the resource update in the first quarter of 2018.