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Transol Corporation starts gold drilling in the Northern Territory  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 05/12/2012

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(MENAFN - ProactiveInvestors - Australia) Transol Corporation (ASX: TNC) has started a reverse circulation drilling program at its emerging Johnnies Reward gold discovery to test for down-plunge extensions of the mineralised zones.

This consists of eight holes totalling 1,400 metres that will also provide an indication of the size and potential of the mineralisation at the Johnnies Reward prospect, located 75 kilometres northeast of Alice Springs, Northern Territory.

Phase 1 drilling at Johnnies Reward had returned a number of significant results including 24 metres at 4.19 grams per tonne (g/t) gold and 0.33% copper from 79 metres and 34 metres at 3.83g/t gold and 0.44% copper from 63 metres.

It delineated a mineralised zone which extends at least 200 metres down-plunge from surface and remains open in all directions.

This had also confirmed historic results from drilling by Alcoa in 1984, confirming the presence of a large, plunging skarn system with the potential to host a significant tonnage of mineralisation. Geophysics indicates that the system extends to over 500m vertical depth.

The current program is expected to be completed by mid-December with assays expected in January 2013 due to the impending festive season.

Final results from metallurgical test work on composite samples of material from Johnnies Reward are expected before Christmas, as well as from soil sampling programs over northern extensions of the Johnnies Reward prospect and a western magnetic anomaly, named Johnnies Revenge.

 






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