TriAusMin Commences Diamond Drilling Program at Mt. Nicholas in New South Wales, Australiaadmin
TriAusMin Commences Diamond Drilling Program at Mt. Nicholas in New South Wales, Australia
March 25, 2014 /FSC/ – TriAusMin Limited (ASX: TRO) (TSX: TOR), (“TriAusMin” or the “Company”) is pleased to announce that it has commenced a 3 hole, 550 metre drill program on its 100% owned Lewis Ponds property located approximately 200 kilometres west of Sydney, Australia. This drill program is designed to test a strong electromagnetic (EM) target located below a line of historical copper workings at Mt. Nicholas.
Lewis Ponds (EL 5583, 100% TRO)
Mount Nicholas Prospect
A preliminary diamond drilling program consisting of 3 holes totalling 550 metres has commenced at the Mt. Nicholas prospect on the Lewis Ponds property, EL 5583. The holes are designed to test the strong plate conductor modelled from the VTEM survey completed in 2010. The plate conductor corresponds to the Mount Nicholas Copper Mine, one of several historical high grade copper mines within this area. This conductor was the strongest defined in the entire survey flown over the Lewis Pond property. The modelled (EM) plate measures 400 metres along strike and 150 metres down-dip.
The plate corresponds almost exactly to significant old workings (excavated on a number of quartz-copper-sulfide veins developed within a broad regional shear zone) that were mapped and sampled in 2013. The rock samples returned maximum assay values of 4.65% Cu, 2.53g/t Au, 49g/t Ag, 0.43% Pb and 0.34% Zn (reported in the June 2013 ASX Quarterly Report). Historical mine records note the occurrence of copper phases including cuprite, covellite, chalcopyrite and chalcocite. The NSW Geological Survey reports historical production from the Mt. Nicholas Mine as 4,000 tonnes for 640 tonnes of copper (16% Cu). The current drill program is the first test of the old mine and corresponding EM conductor.
TriAusMin is engaged in the exploration and development of base and precious metals deposits in the Lachlan Fold Belt of New South Wales, Australia. TriAusMin’s projects include the Woodlawn Project, the Lewis Ponds Project located near Orange, 200km west of Sydney, as well as a number of other quality exploration properties in the Lachlan Fold Belt.
For further information, please visit www.triausmin.com or contact:
Mr Wayne Taylor, Managing Director and Chief Executive Officer:
Tel: +61 02 9299 7800 (Sydney) email@example.com
Tel: +1 905 727 8688 (Toronto) firstname.lastname@example.org
Competent Person Declarations
1. Competent Person / Qualified Person
The technical information in this report relating to the exploration results for the Lewis Ponds is based on information compiled by Mr Erik Conaghan, who is a Member of the Australasian Institute of Geoscientists. Mr Conaghan is a full-time employee of TriAusMin Limited and has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results and “qualified person” as this term is defined in Canadian National Instrument 43-101 (“NI 43-101″). Mr Conaghan consents to the inclusion in this report of the information in the form and context in which it appears.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws, which are based on expectations, estimates and projections as of the date of this news release. This forward-looking information includes, or may be based upon, without limitation, estimates, forecasts and statements as to management’s expectations with respect to, among other things, the generation of revenues by the Company, the timing and amount of funding required to execute the Company’s exploration, development and business plans, capital and exploration expenditures, the effect on the Company of any changes to existing legislation or policy, government regulation of mining operations, the length of time required to obtain permits, certifications and approvals, the success of exploration, development and mining activities, the geology of the Company’s properties, environmental risks, the availability of labour, the focus of the Company in the future, demand and market outlook for precious metals and the prices thereof, progress in development of mineral properties, the Company’s ability to raise funding privately or on a public market in the future, the Company’s future growth, results of operations, performance, and business prospects and opportunities. Wherever possible, words such as “anticipate”, “believe”, “expect”, “intend”, “may” and similar expressions have been used to identify such forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors, including, but not limited to, fluctuations in currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient capital on favourable terms or at all, changes in national and local government legislation, taxation, controls, regulations, political or economic developments in Canada, Australia or other countries in which the Company does business or may carry on business in the future, operational or technical difficulties in connection with exploration or development activities, employee relations, the speculative nature of mineral exploration and development, obtaining necessary licenses and permits, diminishing quantities and grades of mineral reserves, contests over title to properties, especially title to undeveloped properties, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other geological data, environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding, limitations of insurance coverage and the possibility of project cost overruns or unanticipated costs and expenses, and should be considered carefully. Many of these uncertainties and contingencies can affect the Company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Prospective investors should not place undue reliance on any forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
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Source: TriAusMin Limited (TOR-TSX) http://www.triausmin.com
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Posted: March 25th, 2014 under FSCWIRE.