Each one in plain English, with the numbers worked through for a shareholder.
12 Dec 2012drilling result▲ GoodMajor
The 2012 program drilled 5,629 m in 12 holes at Prairie Creek and produced the richest silver ever reported on the property, 1.3 m at 2,059 g/t silver in PC-12-216, plus a coincident electromagnetic and gravity anomaly about a kilometre from the mill that became the 2013 priority target. The same filing carries the business acquisition report for Paragon Minerals, bought by plan of arrangement on 24 September 2012, which is how the Newfoundland projects came into the company.
Step-out drilling 1.7 km north of the Prairie Creek mine hit the same vein-hosting fault structure: PC-10-187 assayed 0.52 m at 5.90% zinc, 4.92% lead and 34 g/t silver, and a wedge cut 50 m below it, PC-11-187W2, returned 3.50 m at 11.47% zinc, 5.26% lead and 84 g/t silver. Both intercepts sit stratigraphically above the rocks that host the defined resource, and the deeper follow-up hole PC-11-206 was stopped 230 m short of its target when winter closed the 2011 season.
A drill program starts at the Tuvatu gold project on Viti Levu, Fiji, under a six-month option to acquire it expiring 31 October 2009 - a gold project on the other side of the Pacific from a zinc developer's only real asset. The drilling is meant to test extensions of the known gold zones and nearby anomalies before the option decision.
The sixth section of underground drilling off the decline, Section 50800N: all seven holes hit vein mineralisation, best PCU-07-037 with 2.11 m at 26.78% zinc, 16.97% lead, 287 g/t silver and 0.795% copper, and PCU-07-035 4.60 m at 16.61% zinc, 7.85% lead and 176 g/t silver. Six sections have now been drilled through the 2006/07 winter, and the pattern is consistently high grade over narrow widths.
The earliest cached event, and the record starts mid-programme rather than at a beginning: underground drilling from the newly driven decline at Prairie Creek returned the first six holes of Section 50650N, including PCU-06-003 with 6.40 m at 12.42% zinc, 15.55% lead, 396 g/t silver and 1.185% copper, and PCU-06-001 with 4.59 m at 23.87% zinc, 9.11% lead and 170 g/t silver. One hole, PCU-06-004, found no significant mineralisation.
