Focus of sampling and recent multi-element analysis
The main area of focus for this soil sampling campaign was between the
A total of 1,695 samples were collected across an area of 1 Km2. Samples were sent to
Recent multi-element and petrographic analysis of the mineralisation at the Endeavour Prospect revealed there is a strong base metal association with the Au enriched vein. Cu, Pb and low levels of Ag were observed in the core and thin section work. The occurrence of these base metals in association with elevated Au grades have been used as a guide when ranking anomalous targets within the sampled area on M37/631 and 632.
Soil Geochemistry Results
Five areas have been identified as walk up targets for drill testing. Ranked highest to lowest are Delta, Alpha, Beta, Charlie and Echo.
Figure 1. Au (ppb) dispersion in the
Figure 2. Spatial distribution of Au and its correlation with base metals and other Au pathfinder elements. Red – known mineral deposits, Yellow – Prospective areas for Au exploration, Blue – Area of alluvial deposition of metals.
In addition, two areas are identified as prospective lithium targets. Li1 is located in the far north and is represented by the presence of elevated Li and other elements associated elements of LCT pegmatites (Rb, Cs, Be, Ta). Further sampling is planned to better define this area. The second lithium anomaly, Li2 is located to the west of the Delta prospect. Due to its close proximity to Delta, the planned AC drilling targeting the Delta Au anomalism will be extended to target the Li2 anomaly.
Figure 3. Li (ppm) dispersion in the
Figure 4. Spatial distribution of Li with respect to LCT Pegmatite pathfinders Red – Known mineral deposits, Green – Prospective areas for Li/LCT Pegmatite exploration.
SOUTH DARLOT GOLD PROJECT (
The British King Minewhich is 100% beneficially owned by the Company and which is National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI43-101”) compliant. The British King Mineis 5km southwest of Red 5 Limited’s Darlot Mine. The British King Mineis currently in care and maintenance.
- A number of tenements which are subject to a joint venture with subsidiaries of Red 5 Limited (“Red 5”), details of which are set out below, in which CIO has earned a 70% interest.
Figure 5: Locality map of the South Darlot project
The tenements set out in the table below (“Red 5 JV Tenements”) are the subject of a joint venture between a fully owned subsidiary of the Company and subsidiaries of Red 5 Limited (“Red 5 JV”) and are situated southwest of Red 5’s Darlot gold mine and are contiguous with CIO’s current holdings in the area. The Red 5 JV Tenements are detailed below.
Table 1: List of South Darlot tenements
On behalf of the Board of Directors
For further information, please contact:
Investor and Media Inquiries:
Direct: +61 2 9397 7555
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking information within the meaning of Canadian securities laws. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the market for iron ore or other minerals that may be produced generally, recent market volatility; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's disclosure documents for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company’s page on SEDAR at www.sedar.com.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a6e5c856-bd39-4992-8f5e-c1d52967ac13
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e97035ae-951e-43cd-9d8d-684d09c8ecc2
Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5d26df07-3ae9-44ff-8927-b12a9cf209ea
Figure 4 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b9acfab6-8ab6-42c6-8f96-bc23ba37b8e5
Figure 5 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a08f75e-6bcd-4c8f-bece-2d285f17cc85
ABN: 32 072 871 133
Au (ppb) dispersion in the
South Darlot Gold Project with known mineralised deposits and areas of interest highlighted from soil sampling campaign.
Spatial distribution of Au and its correlation with base metals and other Au pathfinder elements. Red – known mineral deposits, Yellow – Prospective areas for Au exploration, Blue – Area of alluvial deposition of metals.
Li (ppm) dispersion in the
South Darlot Gold Project.
Spatial distribution of Li with respect to LCT Pegmatite pathfinders Red – Known mineral deposits, Green – Prospective areas for Li/LCT Pegmatite exploration.
Locality map of the South Darlot project
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