Welcome!

News Feed Item

High Grade Gold Discovered at Larken Prospect, West Omai

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

PERTH, Australia, Jan. 10, 2013 /CNW/ - Azimuth Resources Limited (ASX and TSX: AZH) (the "Company" or "Azimuth") is pleased to announce the discovery of high grade gold at its Larken Prospect, less than 1km from its existing Hicks Deposit.

Highlights

  • First assays from shallow RC drilling at the Larken Prospect returned high grades over substantial widths.  Best results were:
    • LRC007:12 metres @ 4.8 g/t Au from 25 metres
    • LRC009:5 metres @ 2.5 g/t Au from 91 metres.
  • Assay results from this drilling program indicate that the Larken Prospect appears to be on a separate sub parallel structure 700m NE of Hicks. The Company believes this may be the same structure that hosts the Norby Prospect, some 3km to the NW of Larken.
  • The results of drill holes LRC007 and LRC009 when combined with the recently reprocessed and interpreted aeromagnetics illustrate the prospectivity of the West Omai region and specifically, the potential for additional high grade gold bearing structures in close proximity to the Smarts and Hicks Deposits.

"Richard Monti"
Richard MontiExecutive Director

Larken Prospect

Azimuth Resources Limited ("Azimuth" or "the Company") (ASX:AZH) is pleased to announce results from the first assayed reverse circulation drill hole at its 100% owned Larken Prospect ("Larken") located within the West Omai Gold Project, Guyana, South America.

Larken is a small artisanal open pit in saprolite, approximately 50 metres wide by 120 metres in strike and less than 15 metres deep, that was mined in the mid to late 1990s.  The pit lies approximately 700 metres to the northeast of the Hicks prospect and is likely to be a sub parallel structure to the one that hosts both Hicks and Smarts (see Figure 1).  Recent aeromagnetic processing and interpretation would indicate that there may well be a parallel zone of gold anomalism with a strike of at least 3 kilometres.

The Company believes the Norby Prospect (including SRC559 - 5m @ 1.1 g/t Au from 91m) which was drilled in the early stages of 2012, is likely hosted within this same structure, 3km to the northwest.

Results were received recently for LRC007 and LRC009. These were part of a program of 11 holes/1,265 metres drilled directly under the Larken pit as well as into a magnetic trend to the southeast.  Significant intercepts from the program are as follows;

  • LRC007                 12m @ 4.8 g/t Au (from 25m) and
                                   8m @ 0.95 g/t Au (from 91m)
  • LRC009                  5m @ 2.5 g/t Au (from 91m)

Figure 1: Map of first pass drilling at Larken Prospect, showing proximity to existing Smarts and Hicks Deposits on magnetic background.

Encouragingly there is 130m of strike between LRC007 and LRC009, and there has been no drilling to the NW of LRC007, leaving the possibility that the structure remains open at this end. Other holes within the program were successful in intercepting the structure, however returned low grades. These results suggest that there is the potential for ore shoots, similar to those seen within the Smarts Deposit, within the broader structure. The geology of the prospect appears similar to that of Smarts, being a volcanic host with abundant quartz veining in a NW trending shear zone.

The Company is excited by this discovery as it validates the belief that there are other high grade gold bearing structures separate to the Hicks and Smarts structure within the West Omai project.

These intercepts are an extremely encouraging result from the first drilling campaign by Azimuth on a prospect that has not been subject to recent drilling.  Although further drill results are needed to place these intercepts into a definitive geological framework, these results are a great starting point for a new high priority exploration target expected to be better defined in the coming months.

Outlook

As the Company recommences drilling activities in 2013, Larken is a prospect that will receive a more prioritised focus. Along with several other targets generated by the Company, Larken will be further tested in the first quarter of 2013.

In parallel, the Company is working diligently towards releasing its upgraded resource statement within the same period.

Competent Person's Statement

The scientific and technical information in this news release is based on information compiled by Mr. Richard Monti who is a member of the Australasian Institute of Mining and Metallurgy. Mr. Monti is a Director of Azimuth Resources Ltd.  Mr. Monti has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and a qualified person as defined in National Instrument 43-101. Mr. Monti consents to the inclusion in this news release of such information and approves such information in the form and context in which it appears.

For a description of Azimuths data verification process, quality assurance and quality control measures, the effective date of the mineral resource and mineral reserve estimates contained herein, details of the key assumptions, parameters and methods used to estimate the mineral resources and reserves set out in this report and the extent to which the estimate of mineral resources or mineral reserves set out herein may be materially affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant issues, readers are directed to the technical report entitled "Technical Report - West Omai Gold Project, Guyana" dated May 30, 2012.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information, including statements regarding exploration results, the potential mineralisation and geological merits of the Hicks and Smarts Deposits and Larken Prospect, other geological prospects and the plans, objectives or expectations of the Company with respect to the advancement of these projects and completion of programs and studies.  Any statements that express or involve predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "likely", "appears", "Indicates", "believes", "possibility", "suggests", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are forward-looking statements.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to materially differ from those reflected in the forward-looking statements, including, without limitation: inherent uncertainties and risks associated with mineral exploration; uncertainties related to the availability of future financing; uncertainties related to the outcome of studies; uncertainties relating to fluctuations in gold or uranium prices; the risk that Azimuth's title to its properties could be challenged; uncertainties related to general economic and financial conditions; and uncertainties related to fluctuations in Azimuth's share price.  This list is not exhaustive of the factors that may affect any of Azimuth's forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of Azimuth or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form under the heading "Description of the Business - Risk Factors" and elsewhere.

Azimuth's forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management as of the date hereof and which Azimuth believes are reasonable in the circumstances, but no assurance can be given that these expectations will prove to be correct. These assumptions include, but are not limited to public statements and stated goals, that there will be no material adverse change affecting the Company or its properties and such other assumptions as set out herein. Azimuth disclaims any intention or obligation to update or revise forward-looking statements if circumstances or management's beliefs, expectations or opinions should change, except as required by law.  For the reasons set forth above, undue reliance should not be placed on forward-looking statements.

Table 1: Larken Drillhole Details

Hole ID Azimuth Dip End of
Hole
Depth
UTM Zone
21
Northing
UTM Zone
21
Easting
From To Width Grade
g/t Au
LRC001 215 -55 103 620002 273960       NSI
LRC002 215 -55 121 619961 273938       NSI
LRC003 215 -55 121 619914 273917       NSI
LRC004 35 -55 121 619989 273960       NSI
LRC005 35 -56 121 620040 273971       NSI
LRC006 35 -55 121 620095 273981       NSI
LRC007 215 -55 103 620397 273507 25 37 12 4.8
            91 99 8 0.95
LRC008 215 -56 109 620315 273620 26 27 1 0.85
LRC009 215 -55 109 620343 273629 91 96 5 2.5
LRC010 35 -55 121 620220 273682 11 12 1 0.64
            31 32 1 0.65
LRC011 35 -56 115 620184 273650 44 47 3 0.54

 

 

 

 

SOURCE Azimuth Resources

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
First generation hyperconverged solutions have taken the data center by storm, rapidly proliferating in pockets everywhere to provide further consolidation of floor space and workloads. These first generation solutions are not without challenges, however. In his session at 21st Cloud Expo, Wes Talbert, a Principal Architect and results-driven enterprise sales leader at NetApp, will discuss how the HCI solution of tomorrow will integrate with the public cloud to deliver a quality hybrid cloud e...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
The session is centered around the tracing of systems on cloud using technologies like ebpf. The goal is to talk about what this technology is all about and what purpose it serves. In his session at 21st Cloud Expo, Shashank Jain, Development Architect at SAP, will touch upon concepts of observability in the cloud and also some of the challenges we have. Generally most cloud-based monitoring tools capture details at a very granular level. To troubleshoot problems this might not be good enough.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.