Each one in plain English, with the numbers worked through for a shareholder.
5 May 2015drilling result▲ Good
Soil surveys at the new Black Gate prospect, 25km west of Inkheart, show anomalous zinc, lead and silver, with zinc about an order of magnitude higher than at Inkheart. The anomaly is over 1km and open south. These are soil results, not drilling.
Core won a $75,000 South Australian PACE grant to co-fund six diamond holes (about 1,000m) at its Yerelina zinc-lead-silver project, planned for the second half of 2015. Rock chips have run up to 14.7% zinc and 567 g/t silver; the area has never been drilled.
Final Jervois airborne data are in and, per Core, confirm conductive zones; early processing suggests target depths of 100-300m, suited to RC drilling. CSIRO modelling is due in February, with drilling planned for March 2015. No drill results yet.
All Virginia (12 holes) and Copper Royals (6 holes) results are in: anomalous copper and zinc but no significant mineralised zones. The Virginia copper is described as inconsistently mineralised. This disappoints the copper drilling flagged since October; Core now turns to Jervois, with drilling planned for March 2015.
First 5 of 12 Virginia holes show elevated copper, best 3m at 0.9% copper from 3m (VGRC003), with two holes showing nothing significant. Core says this confirms a mineralised structure at depth. Remaining assays and Copper Royals results are due early January.
RC drilling has started at Virginia, the first ever drilling there, to be followed by Copper Royals targets about 20km west. First assays are expected in 3-4 weeks. This starts the copper drilling flagged since the October quarter report.
The Virginia airborne survey found a significant conductive target below the 1.5km outcropping copper zone, where 75 rock chips average 2.4% copper. Core adds drill holes to test it; there has been no previous drilling there, and RC drilling is planned for late November.
Core has extended the airborne EM survey over Virginia and at least nine Copper Royals prospects before drilling. Preliminary results are expected in 2-4 weeks, with drilling to start as soon as they arrive. This follows the Jervois survey and adds a step before the copper drilling.
Preliminary airborne survey data at Jervois show large conductive targets, including a cluster 2-3km long about 5km east of KGL's 25Mt copper resource. Final modelling with CSIRO is due December 2014, and drilling is planned for Q1 2015. These are targets, not drill results.
Final assays from the Inkheart/Blueys drilling extend silver-lead mineralisation to at least 500m of strike, best 3m at 198 g/t silver and 4.1% lead (IKRC016). It remains open along strike and at depth. Focus now shifts to Virginia and Copper Royals; further Inkheart work is to be considered in early 2015.
First assays from the follow-up drilling at Inkheart extend the silver-lead zone, with best results 3m at 268 g/t silver and 8.0% lead and 6m at 95.6 g/t silver. Seven of nine holes reported had significant hits. Roughly half of the assays are still pending, due within two weeks.
Airborne EM surveys have started over the 20km Jervois prospective zone next to KGL's 25.3Mt copper resource, with preliminary results expected in 2-4 weeks. The 2,500m Inkheart/Blueys drilling is complete, with first assays due that week.
Core completed the purchase of the Albarta joint venture interests, issuing 10,000,000 shares for 14 granted tenements, half escrowed 6 months and half 12 months. Core now holds 100% of over 2,000km2. Registration of the tenements in Core's name is still to occur. The managing director also received 500,000 shares on vesting performance rights.
Core has started the 2,500m follow-up RC drilling at Inkheart and Blueys, the silver-lead-zinc discovery from June 2014. It is due to finish in 2-3 weeks, with assays expected in October. This starts the drilling flagged in August, slightly later than planned.
A 2,500m RC follow-up program at Inkheart/Blueys is set to start in the first week of September, taking about 3 weeks, with assays toward end-September. Copper drilling at Virginia and Copper Queen is to follow.
Mapping and sampling found copper outcrop up to 8.9% at the new Jay and Manny prospects, tied to a 2km magnetic feature in the Greater Paradise Well area. It adds drill targets; no drilling is reported.
IP surveys found chargeable drill targets beneath surface copper at Copper Queen, where rock chips run up to 20% copper and 72.3 g/t gold. RC drilling there and at Virginia awaits approvals expected later this quarter.
Rock chips at the new Selins copper prospect in Albarta assayed up to 13% copper, with 10 samples averaging 4.1%, along a 5km prospective trend. Follow-up mapping and geochemistry is planned to rank drill targets; no drilling yet.
Maiden drilling hit high-grade silver-lead: 1m at 1,070 g/t Ag and 8% Pb at Blueys, and a new discovery at Inkheart with 4m at 195 g/t Ag, 5.24% Pb, 2.49% Zn. 16 of 17 holes were anomalous. Follow-up drilling is planned for Q3 2014.
An IP survey found shallow chargeable targets, generally under 100m, below a 1km copper horizon at Virginia; 75 rock chips average 2.4% copper, up to 34%. Core plans drilling in Q3 2014 and applied for NT government co-funding. Blueys drilling is complete, with assays pending.
Core's first NT drilling is underway at Blueys and Inkheart: 2,500m over 20 holes, expected to take 3-4 weeks. Assay results are expected over the next eight weeks. The targets have never been drill tested below 52m.
Core found three new copper prospects, making four in the Greater Paradise Well area of Albarta, within 3km x 3km. Rock chips ran up to 6.16% copper (32 of 72 samples anomalous). Soil surveys over 20km2 are underway, with results expected in May.
Core detailed a planned 2,000m RC drill program at Blueys, due to start in April subject to approvals, with a 3D fly-through. It would be the first drilling below 52m at Blueys and the first at Inkheart's silver-in-soil anomaly. Largely repeats the earlier April plan.
An IP geophysical survey found drill targets, mostly 75-150m deep, beneath the high-grade silver at Blueys and Inkheart. Never drilled to these depths. RC drilling is planned for early 2014, subject to land access approvals, which Core has begun seeking.
Rock chips in a newly recognised western zone at Blueys returned 1,533 g/t silver, 500m west of earlier high-grade samples. Core says this expands the scale of mineralised outcrop; an IP survey starts this week and drilling access approvals have begun.
New soils show lead and copper anomalism at Inkheart comparable to Blueys, matching the earlier silver. Core says this raises the chance of Blueys-style mineralisation at Inkheart. Land access procedures for first drilling have begun; IP survey follows late-October geophysics review.
Infill soils extended the Inkheart silver anomaly to over 2,000m, with new peaks of 18,241, 16,084 and 14,758ppb; it remains open. Blueys infill defines a 700m x 400m footprint. Geophysics analysis due late October, then IP survey; no drilling yet.
New surface rock chips at Blueys assayed up to 4,065 g/t silver, 5.5% copper and 25% lead, Core's highest silver grades yet. Samples came from stockpiled material. Infill soils due mid-September, IP geophysics next month; no drilling yet.
Core highlights the Virginia copper prospect on its EL 29689 application: a stratiform copper horizon over 1km, with historic rock chips typically 1-5% Cu and up to 34%. The data is from previous explorers; there has been no drilling or geophysics. Core plans fieldwork once the licence is granted.
Soil sampling at Albarta's Blueys prospect found silver up to 25,250ppb, well above the 100ppb anomalous level. A new neighbouring Inkheart prospect peaked at 19,552ppb. Core takes this as a sign of mineralisation at depth; infill soils and mapping follow. No drilling yet.