Drilling Report - G?yn?k Project, Turkey

RNS Number : 3476X

Tri-Star Resources PLC

14 February 2012

 



 

14 February 2012

Tri-Star Resources plc

("Tri-Star" or the "Company")

Summary drilling report for the Göynük Project, Turkey

Tri-Star Resources (AIM: TSTR), the antimony exploration and development company, is pleased to provide an update to its 2011/2012 drilling programme on its Göynük Project, Turkey, which has recently been completed.

Highlights

·      A new area discovered by late stage holes with significant mineralisation including hole GOY 11065 which returned an intercept of 7.10% antimony over 4.70m

·      Behre Dolbear appointed to independently assess the current resource estimates by the end of Q1 2012

·      Drilling and modelling have demonstrated the mineralisation trend observed over approximately 300m across the project site is associated with a regional fault structure that extends across the prospecting licence for about 4km

·      The mineralisation is open east and west from the areas drilled to date

·      Metallurgical testwork results received from Wardell Armstrong give recoveries of 93% into concentrates of 61% Sb using both gravity and froth flotation methods

Emin Eyi, Managing Director of Tri-Star, commented: 

"The antimony mineralization at Göynük, associated with the major east-west fault, provides a significant target strike length for further drilling in 2012.  We look forward to receiving the independent assessment on the current resource estimates, and updating the market on our progress at Goynuk."

Additional information concerning this press release has been made available on the Company's web site at www.tri-starresources.com

Summary

The 2011 Göynük exploration and drill programme verified the existence of a mineralised zone to the south-west of the old mine workings and also discovered a new extension to the north-west. The new discovery was made with the last hole planned to be drilled, resulting in the programme being extended over the Christmas period into the New Year.

The computer modelling now indicates that the antimony mineralisation occurs mainly on sub horizontal boundaries between the major geological formations of the Murat Dagi melange.  The mineralisation trends east-west, and is associated with a main fault that separates the melange from sediments to the north.  This mineralised trend includes the mineralised area previously discovered in 2010, the newly discovered area and the area between hosting the old mine workings.

The internal estimates of mineralisation, drill logs, assays and other relevant technical data made or compiled by the technical team are to be submitted to Behre Dolbear Group Inc. ("Behre Dolbear"), a mineral industry advisory firm, who have been commissioned to produce an independent resource report.

The drill programme was planned to identify the limits of the mineralised zone to the south west of the old mine workings ("Area A") and to drill off the area around the workings to the west ("Area B"), in order to support a potential open pit.  The programme was to further test the old mine dumps and extend the mineralisation where possible.

The area around the existing mine and the prospecting licence area was surface mapped during the spring of 2010, which resulted in a mapping database and new maps being produced, improving the understanding of relationships between the units of the Murat Dagi melange, where the mineralisation occurs. 

Due to the complexity of the geometry of the mineralisation, the drilling was undertaken with one drill so that sufficient control could be exercised.  The programme commenced with Hole 21, which was drilled to check the sediment package to the north of the main fault, which proved to be barren in line with expectations.

25 holes (22 to 47) were drilled to outline and evaluate the mineralisation in Area A, to the south east of the mine; however, the use of a single drill extended the programme well into the autumn.  Once the original 26 hole drill programme had been completed, and while assay results were been awaited, the drill was moved to the west to and then to the north west in order to explore Area B, close to the old workings.  As the old workings are randomly oriented, it was decided to drill around the workings to establish samples to assess the remaining resource.

Mineralisation was encountered to the west, south and underneath the old workings and, accordingly, the Company decided to drill further out to the west.  Drill hole 59 intersected significant mineralisation almost 60 metres away from the old workings.  The drill programme was therefore further extended to drill an additional 8 holes (60 to 67). These holes were completed in early January 2012 and the cores logged and samples sent for assay. Mineralisation was visible in almost all of these additional holes.  Key results from these holes are shown in the following summary, full results are appended.

Hole Number	From m	To m	Intercept m	Grade %Sb
GOY11059	45.90	48.60	2.70	2.30
GOY11061	33.30	36.80	3.50	0.44
GOY11063	49.60	52.70	3.10	1.69
GOY11064	62.40	65.40	3.00	0.50
GOY11065	52.70	57.40	4.70	7.10
GOY11066	35.20	38.20	3.00	1.31

The Company intends to undertake further step out drilling of the mineralised areas once it is in receipt of new drilling permits

Behre Dolbear was engaged in December 2011 to provide an independent assessment of the Göynük resource.  This work is currently being undertaken and it is expected to be completed and made available by the end of Q1 2012,

Drilling Statistics

Year	Programme	Hole numbers	No. of holes drilled	Metres drilled
2010	Scout Programme	1 - 20	20	1,362.9m
2011	Testing Sediments	21	1	173.2m
	Area A (South East)	22-47	25	2,601.4m
	Area C (Old Mine)	48-51	3	254.2m
	Dumps	52-53	2	52.8m
	Area C (Old Mine)	54-58	5	467.3m
	Discovery Hole	59	1	76.0m
	Area B (North West)	60-67	8	491.5m
Total 2011		21-67	47	4,116.4m
Total Göynük		1-67	67	5,479.3m

Sample Statistics

Year	No. of borehole samples	No. of geochemical samples
2010	216	79
2011	634	105

Mineral processing and metallurgical testing

The mineralised rock from Göynük was tested at Wardell Armstrong and the report stated the following: "The testing showed that, using a combined process, up to 92.9% of the antimony present in the feed could be recovered to a concentrate grading 61.1% Sb, with 69.5% of the antimony recovered from the initial gravity separation and the remaining 23.4% recovered by froth flotation."

Samples of the concentrates produced during the tests have been submitted to Hazen Research in Denver for roasting testwork.

Future

The mineralisation associated with the regional east-west trending fault provides a shallow target zone of significant strike extent. The Company plans to investigate this extension with a drilling programme later this year.

Enquiries:

Tri-Star Resources plc  Brian Spratley	Tel:[phone]
Strand Hanson Limited (Nomad) James Harris / Paul Cocker	Tel: [phone]
Gable Communications Justine James / John Bick	Tel : [phone]

Brian Spratley, the Company's Technical Director, has relevant experience within the sector and meets the criteria of a qualified person under the AIM note for mining, oil and gas companies and has reviewed and approved the technical information contained in this announcement.

Full Drill Results from Boreholes GOY11059 to GOY 11066 (GOY11067 not yet sampled)

Hole ID	From	To	length	Sb	Azimuth	Dip	Intercept	Grade Sb
	m	m	m	%	deg	deg	m	%
GOY11059	44.90	45.90	1.00	0.01
GOY11059	45.90	46.90	1.00	2.16
GOY11059	46.90	47.60	0.70	5.34
GOY11059	47.60	48.60	1.00	0.32
GOY11059	48.60	49.60	1.00	0.03
GOY11059	49.60	50.60	1.00	0.02
GOY11059	50.60	51.60	1.00	0.01
GOY11059	51.60	52.60	1.00	0.00
GOY11059	52.60	53.60	1.00	0.00
GOY11059	53.60	54.60	1.00	0.00
GOY11059	54.60	55.60	1.00	0.00
GOY11059	55.60	56.60	1.00	0.01
GOY11059	56.60	57.60	1.00	0.02
GOY11059	57.60	58.60	1.00	0.02
GOY11059	58.60	60.00	1.40	0.03
GOY11059	60.00	61.00	1.00	0.04
GOY11059	61.00	62.40	1.40	0.03	300	-45	2.70	2.30
GOY11060	37.90	39.20	1.30	0.03
GOY11060	39.20	40.20	1.00	0.07
GOY11060	40.20	41.20	1.00	0.10
GOY11060	41.20	42.20	1.00	0.05	300	-45
GOY11061	30.30	31.30	1.00	0.00
GOY11061	31.30	32.30	1.00	0.03
GOY11061	32.30	33.30	1.00	0.20
GOY11061	33.30	34.30	1.00	0.31
GOY11061	34.30	35.30	1.00	0.45
GOY11061	35.30	35.80	0.50	0.74
GOY11061	35.80	36.80	1.00	0.40	300	-90	3.50	0.44
GOY11062	34.20	34.80	0.60	0.05
GOY11062	34.80	35.80	1.00	0.27
GOY11062	35.80	36.80	1.00	0.02
GOY11062	36.80	37.80	1.00	0.01
GOY11062	37.80	38.80	1.00	0.01
GOY11062	38.80	39.80	1.00	0.01
GOY11062	39.80	40.80	1.00	0.00
GOY11062	40.80	41.80	1.00	0.01
GOY11062	41.80	42.80	1.00	0.01
GOY11062	42.80	43.65	0.85	0.01		-90
GOY11063	36.20	37.20	1.00	0.25
GOY11063	37.20	38.20	1.00	0.22
GOY11063	38.20	39.20	1.00	0.09
GOY11063	39.20	40.20	1.00	0.02
GOY11063	40.20	41.20	1.00	0.02
GOY11063	41.20	42.20	1.00	0.01
GOY11063	42.20	43.20	1.00	0.01
GOY11063	43.20	44.20	1.00	0.05
GOY11063	44.20	45.60	1.40	0.11
GOY11063	45.60	46.60	1.00	0.03
GOY11063	46.60	47.60	1.00	0.01
GOY11063	47.60	48.60	1.00	0.01
GOY11063	48.60	49.60	1.00	0.06
GOY11063	49.60	50.60	1.00	2.53
GOY11063	50.60	51.70	1.10	1.59
GOY11063	51.70	52.70	1.00	0.95	300	-65	3.10	1.69
GOY11064	35.00	36.00	1.00	0.05
GOY11064	36.00	37.10	1.10	0.03
GOY11064	45.00	46.00	1.00	0.03
GOY11064	46.00	47.00	1.00	0.01
GOY11064	47.00	48.00	1.00	0.01
GOY11064	48.00	49.00	1.00	0.01
GOY11064	49.00	50.00	1.00	0.03
GOY11064	50.00	51.00	1.00	0.04
GOY11064	51.00	52.00	1.00	0.27
GOY11064	52.00	53.00	1.00	0.04
GOY11064	53.00	54.00	1.00	0.02
GOY11064	54.00	55.00	1.00	0.01
GOY11064	55.00	56.00	1.00	0.02
GOY11064	56.00	57.00	1.00	0.01
GOY11064	57.00	58.00	1.00	0.01
GOY11064	58.00	59.00	1.00	0.02
GOY11064	59.00	60.00	1.00	0.04
GOY11064	60.00	61.00	1.00	0.18
GOY11064	61.00	62.40	1.40	0.09
GOY11064	62.40	63.00	0.60	0.60
GOY11064	63.00	64.00	1.00	0.67
GOY11064	64.00	65.40	1.40	0.33	270	-45	3.00	0.50
GOY11065	50.30	51.30	1.00	0.01
GOY11065	51.30	52.00	0.70	0.01
GOY11065	52.00	52.70	0.70	0.02
GOY11065	52.70	53.70	1.00	16.35
GOY11065	53.70	54.70	1.00	8.35
GOY11065	54.70	56.10	1.40	5.74
GOY11065	56.10	57.40	1.30	0.48	270	-65	4.70	7.10
GOY11066	35.20	36.20	1.00	1.54
GOY11066	36.20	37.20	1.00	1.48
GOY11066	37.20	38.20	1.00	0.90
GOY11066	38.20	39.20	1.00	0.06
GOY11066	39.20	40.20	1.00	0.04
GOY11066	40.20	41.20	1.00	0.05
GOY11066	41.20	42.20	1.00	0.33
GOY11066	42.20	43.20	1.00	0.10
GOY11066	43.20	44.20	1.00	0.10
GOY11066	44.20	45.20	1.00	0.62
GOY11066	45.20	46.20	1.00	0.10
GOY11066	46.20	47.20	1.00	0.01
GOY11066	47.20	48.20	1.00	0.01	330	-65	3.00	1.31
GOY11067	Not Sampled				360	-60

Notes:

·      The data above is as received and selected for its significance, no corrections have been made.

·      The borehole intercept lengths have not been corrected for dip of the borehole or the dip of the mineralisation.

·      The borehole numbering convention is as follows, GOY for Göynük, 11 for 2011, and the borehole unique number.

·      The contractor is using HQ drilling equipment which results in approximately 72mm diameter core, with recovery being very satisfactory.  The recovered core is photographed and logged on site and selected core samples are cut in half and sent for assay. The residual half core is retained at site.

·      The samples are taken to the ALSGlobal laboratories in Izmir, on the west coast of Turkey, where they are crushed, pulverised and prepared for assay, and are subsequently delivered to the ALSGlobal laboratories in Vancouver for assay.

 

END

 

 

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