Encouraging assays from Queensland drilling program

Queensland Gold & Minerals Ltd has received very encouraging tantalum...

  Queensland Gold & Minerals Ltd has received very encouraging tantalum, lithium and tin assay results received from a recently completed initial shallow drilling program on four pegmatite bodies at the Buchanan’s Creek prospect near Georgetown in north Queensland.Tantalum and lithium are high value metals used in the electronics industry for such products as mobile phones and computers and in the chemical and ceramic industries.The pegmatite bodies are elongate up to 200m long and 10m wide, are sub-vertical, and are clustered in a halo around the periphery of a recently discovered granite body of half a square kilometre in area. Reverse circulation percussion drilling of 16 holes (BCDH 7 to 22) for 657m has produced consistent anomalously high analyses for lithium, tantalum, niobium and tin in 10 of the 16 holes.The higher grade tantalum, niobium and tin intersections are currently being re analysed using a more precise method. The holes were drilled at an inclination of 60 degrees across the trend of the pegmatite bodies at intervals of around 25m along the strike.QGM’s Managing Director, Adrian Day, said drilling to date had covered only part of the project area and the company now planned follow-up field work and additional drilling after the wet season.“We consider these results very encouraging from the perspective that this was a first pass reconnaissance drilling program and these grades are in the same order of magnitude as known rare-metal pegmatite deposits,” Mr Day said.“As well as these pegmatite bodies in the northern part of the project area, QGM has an adjacent similar pegmatite system on which we have just concluded access and compensation agreements with landholders and the Ewamian native title claimants, preparatory to grant of a new mining lease.“The company also has numerous other reconnaissance targets awaiting follow-up in the near vicinity of both systems.”