Significant new intercepts at Whitewash

09 February 2008 | 07:20 Code : 16701 Geoscience events
With significant new molybdenum intercepts, Queensland-based minerals....

  With significant new molybdenum intercepts, Queensland-based minerals explorer Aussie Q Resources is on schedule to announce a maiden Resource Statement for its Whitewash copper-molybdenum prospect near Monto in Central Queensland.Aussie Q said it expects to announce the maiden Resource Statement at the Whitewash Prospect before the end of February. The latest results from the company’s ongoing drilling program at Whitewash uncovered significant new areas of mineralization, particularly in the northern zone of the prospect. Aussie Q CEO, Dr Richard Haren said that the latest results helped to confirm the scale and grade of the deposit and provided a strong indicator to what the company believes will be a positive Resource Statement. The mineralization at Whitewash remains open to the north, south, and west, and at depth. Aussie Q is excited about the potential of the Resource Statement, which will be based on assay results from pre-IPO drilling and drilling programs undertaken since the company’s listing on the ASX in June 2007. “Whitewash remains open in three directions and at depth and has demonstrated consistent molybdenum grades, which lead us to believe it has the potential to be developed into a large-scale, mineable project,” Dr Haren said. “Furthermore, there are a number of similar look-alike zones of mineralization in the wider project area which are yet to be explored to any large extent, which further adds to the potential resource base and upside of the project,” he said.

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