Monday, August 4, 2008

World Mining News:Gold exploration project for Trundle

The Parkes Shire may be in for another mining boom following the announcement of an exploratry project at a property near Trundle.

Robert Brown, President and CEO of Calibre Mining Corporation announced this week that the Canadian company has initiated a 7-hole 3,700 metre diamond drill program.

The Trundle property is a 78-square kilometre tenement immediately adjacent to the township.

A mine near Turndle would add to the Northparkes copper-gold district that has produced 864,500 ounces of gold and 616,400 tonnes of copper.

Calibre is earning a 70 per cent interest in the Trundle tenement from Western Plains Resources Ltd by completing exploration expenditures totalling AU$3 million over a three-year period with a minimum work commitment of $600,000 in the first year.

Calibre can earn an additional 20per cent interest in the project by completing a Feasibility Report.

Trundle contains widespread evidence of porphyry and skarn-style copper-gold mineralisation associated with several discrete intrusive centers.

Historical shallow rotary air blast and air core drilling on four of these centres confirmed the presence of copper and gold mineralisation coincident with skarn and porphyry-style alteration and airborne magnetic highs.

GOS Drilling of Cobar has been contracted to carry out a 3,700 metre diamond drilling program.

The program focuses on the northern targets of Mordialloc, Bloomfields and Yarrabandai and is designed to test targets at depth (greater than 500m) for high grade porphyry Cu-Au mineralisation.

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