A two hole program was completed late 2020 as part of a Queensland Government Collaborative Exploration Initiative, one of those holes PVRD196, located in Zone 5, intersected 8.42 m @ 7.07% Pb, 5.98% Zn and 9 g/t Ag between 161.10 and 169.52 m down hole, outside of the current Mineral Resource, with an estimated true thickness of 7.0 m.
The objective of the upcoming ten hole program is to expand the mineralisation centred around the PVRD196 intersection, testing a strike length of approximately 500 m.
Notes on Drilling and Assay QA/QC
The drilling of PVRD196 involved drilling RC pre-collars using a 5.75 inch diameter face sampling bit to depth prior to casing and continuing the hole in NQ2 diamond core.
Diamond core samples were taken on nominal 1 m lengths but varied to match geological contacts. Samples of the core are obtained using a diamond saw to half cut the core, retaining a half for a permanent core record.
Field duplicate samples were taken and blanks and commercially prepared certified reference materials (standards) were added into the sample sequence for every hole submitted. These were analysed by the Company and no issues were noted with analytical accuracy or precision.
Samples used for the results described herein were prepared and analyzed at
Drill hole collars are located using handheld GPS. Down hole surveys were undertaken using a true north seeking gyroscope with stations nominally every 6 m.
All diamond core is orientated using digital core orientation systems, this data is incorporated into the 3D interpretations. Assay intervals summarised above are down hole intervals, and the true thickness noted is based on 3D interpretations of the host lithology, structure, and mineralization.
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Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may be deemed to be 'forward looking statements' or 'forward-looking information' within the meaning of the applicable
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, changes in commodities prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and financing; differing results and recommendations in the preliminary economic assessment and general economic, market or business conditions.
In addition, forward looking statements are subject to various risks, including but not limited to operational risk; political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate; the limitations and assumptions within drilling, engineering and socio economic studies relied upon in preparing the 2019 Pegmont PEA and receipt of regulatory and other approvals and/or consents in respect of the Offering in particular. There can be no assurance that the Offering will be completed on their terms or at all.
The reader is referred to the Company's filings with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible under the Company's profile at www.sedar.com
There is no certainty that any forward looking statement will prove to be accurate and investors should not place undue reliance upon forward looking statements. The Company does not undertake to provide updates to any of the forward looking statements in this release, except as required by law.
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