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MENAFN - ProactiveInvestors - Australia - 11/10/2012

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(MENAFN - ProactiveInvestors - Australia) RMG (ASX: RMG) has discovered multiple outcrops of high grade copper, zinc and lead mineralisation from rock chip sampling at its Kamarga Project in northern Queensland.

Assays of rock chips from the outcrops reveal a number of areas with peak values of up to 15% zinc, 2.3% copper, 5% lead and 17 grams per tonne silver.

The project is located 20 kilometres southeast of the world class Century zinc-lead mine, the world's second largest producer of zinc concentrate with the capacity to produce around 500,000 tonnes annually.

Rock chip sampling and mapping has identified a 1 kilometre long stratabound zone of high grade zinc, lead, copper, silver mineralisation in outcrop at Kamarga within the upper portion of the Paradise Creek Formation.

The outcrops discovered at Kamarga include visible lead sulphides at surface.

This 1 kilometre zone of high grade zinc and lead with attendant copper has previously been drilled by two holes by Mt Isa Mines.

The two holes, which are 830 metres apart, both intersected the mineralised horizon within the weathered zone at approximately 40 metres vertical depth with attendant strongly anomalous zinc and lead. The primary mineralisation has not been drilled.

The sampling and mapping has also identified a large area of gossanous siltstones with significant lead grades.

This zone of outcropping mineralisation, known as the JE Zinc Zone, has previously been covered by a program of bedrock auger sampling by Newmont Mining in 1978.

The primary sulphide mineralisation within the JE Zinc Zone represents a new exploration target over 2 kilometres in length.

The new zone is a priority drill target with the potential to host higher grade zinc-lead mineralisation in the untested primary zone.

These latest results indicate that a new copper-zinc-lead zone of mineralisation has been confirmed and further work will be undertaken to assess the extent of the mineralisation.

Further rock chip results are awaited.


Kamarga Project

The Kamarga Project, which is held under option from Teck Australia, is located in the Isa Super Basin of northwest Queensland and eastern Northern Territory.

The basin is classified as a world class zinc province, due to the large number of giant zinc deposits, and is arguably the largest accumulation of zinc in the world.

Kamarga is located near to regional infrastructure including a concentrate pipeline to port at Karumba and a rail line to the port and smelter at Townsville.

The Century mine is proposed to close in 2016 and private infrastructure may have spare capacity.

Kamarga is located in the same MidProterozoic sediments that host the large Century, Mount Isa, George Fisher and MacArthur River zinclead deposits.

The project was explored during the 1970s and 1980s by several companies including Newmont Mining, CRA, North Mining and MIM.

The earlier explorers reported an exploration target of 5 to 15 million tonnes at 5% to 10% zinc. The prospect has had little work since the 1990s.

RMG has an exclusive right to earn up to 100% of the Kamarga zinc project from Teck subject to certain back-in rights.

 






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