Currie Rose Resources Inc. (the company) (TSX VENTURE:CUI)(PINK
SHEETS:CUIRF) has been informed by Liontown Resources Limited that
the following news release has been issued with respect to the
Jubilee Reef Joint Venture in Tanzania, East Africa.
"Liontown Resources Limited (ASX:LTR) is pleased to report that
results from the Company's maiden drilling program at its Jubilee
Reef JV in Tanzania, East Africa (see Figure 1) indicate potential
for the Project to host large-scale gold deposits with significant
widths and grades of mineralisation intersected.
A program comprising approximately 4,000m RC and RAB drilling
was undertaken at three gold prospects (see Figure 2) and was
designed to test beneath and along strike of previously reported
shallow gold intersections (see ASX announcements dated 25th
January and 27th January 2011).
Better intersections are listed above and results for all holes
for which assays have been received are appended. Assay results are
still pending for one RC hole drilled into the Shangaza/Panapendesa
gold target and for 12 RC holes drilled into iron targets located
in the eastern part of the Project area.
Holes JBRRC018 and JBRRC019 were drilled at the Masabi Hill
prospect (see Figure 3) and confirm the down dip extension of
extensive gold mineralisation intersected in previous shallow RAB
holes (see Figures 4 and 5). The mineralisation remains open along
strike to the east and at depth.
Holes JBRRC024 and JBRRC025 were drilled at the
Shangaza/Panapendesa prospect (see Figures 2 and 6). JBRRC024 was
drilled approximately 50m down dip of a previous intersection of
19m at 3.6g/t gold reported at the bottom of a RAB hole JLRB126
(see Figure 7) while JBRRC025 was drilled approximately 100m along
strike to the north-east. The mineralisation remains open along
strike to the east and at depth.
The RAB drilling was undertaken at the Masabi Hill prospect (see
Figure 3) to test for extensions of a large, 150x500m, east-west
trending gold geochemical anomaly which had been partially defined
by previous soil sampling and RAB drilling.
The gold mineralisation at Masabi Hill is hosted by a strongly
altered granitic intrusion and the recent RAB drilling program was
also designed to intersect the previously untested contact with the
adjacent greenstone lithologies.
Results from the RAB drilling confirm that strong gold anomalism
(greater than 0.1g/t) extend eastwards beneath shallow transported
cover for at least another 350m from the previously defined
mineralised zone. The latest results are of similar magnitude as
that recorded by previous RAB drilling up dip of the intersections
in JBRRC018 and JBRRC019 referred to above (see Figures 4 and
5).
Significantly the results in JLRB483, JLRB0498 and JLRB499 (see
Figure 3) confirm the potential of granite contact zone to host
economic gold mineralisation. The granite contact, which geophysics
indicates is at least 3km long on the JV area, is completely
covered by shallow transported soil and has only been intersected
by the single RAB traverse drilled by Liontown.
Commenting on the results, Liontown's Managing Director, Mr
David Richards, said "These are very exciting results for a maiden
drilling program and highlight the potential for a major gold
system, particularly at Masabi Hill. More RAB drilling is needed to
define the extent of the gold anomalism at Masabi Hill as well as
diamond core drilling to get a better handle on what is controlling
mineralisation. We will then need an RC rig to work out the real
size of the system. This work will start as soon as all assay
results are received (including 1m splits of composite samples) and
suitable drill rigs can be secured."
Liontown entered into the Jubilee Reef JV Project with Canadian
company Currie Rose Resources Ltd (TSX VENTURE:CUI) at the
beginning of 2011. Liontown has the right to earn up to 75% equity
in the Project which is located in the Lake Victoria Goldfield (see
Figure 1), an Archaean greenstone-granite terrain similar to the
Eastern Goldfields of W.A.
Several multi-million ounce gold deposits are currently being
mined in the region including Bulyanhulu and Geita.
Highlights
Best RC Intersections from maiden drilling program
- JBRRC018 28m @ 3.02g/t gold from 40m, including 8m @ 7.45g/t
gold from 56m
- JBRRC019 40m @ 1.19g/t gold from 8m
- JBRRC024 28m @ 2.8g/t gold from 72m, including 8m @ 5.1g/t
gold from 72m
- JBRRC025 12m @ 2.3g/t gold from 40m
RAB Intersections
- JLRB488 22m @ 1.3g/t gold from 8 - 30m (EOH), including 12m @
2.21/t gold from 8m
- JLRB498 29m @ 0.75g/t gold from 8 - 37m (EOH)
- JLRB499 33m @ 0.62g/t gold from 4 - 37m (EOH), including 8m @
1.74g/t gold from 8m
- JLRB523 15m @ 0.75/t gold from 24 - 39m (EOH), including 8m @
1.1g/t gold from 28m
- JLRB528 16m @ 0.70g/t gold from 16 - 32m (EOH), including 4m @
1.2g/t gold from 28m (EOH)
(NB: all assays reported are 4metre composite samples)
All Figures above can be reviewed on the Liontown website:
www.ltresources.com.au
"David Richards"
DAVID RICHARDS Managing Director
10 October 2011
The information in this report that relates to Exploration
Results is based on information compiled by Mr David Richards, a
full time employee of Liontown Resources Limited, who is a Member
of the Australian Institute of Geoscientists. Mr Richards has
sufficient experience in the field of activity being reported to
qualify as a Competent Person as defined in the 2004 edition of the
Australasian Code for Reporting of Exploration Results, Minerals
Resources and Ore Reserves, and consents to the release of
information in the form and context in which it appears here."
BY ORDER OF THE BOARD OF DIRECTORS OF CURRIE ROSE RESOURCES
INC.
Harold Smith, President
The technical information in this News Release has been reviewed
and approved by Michael Griffiths FAusIMM, a qualified person as
defined by National Instrument No. 43-101, and a Director of Currie
Rose Resources Inc. and Director of Chalice Gold Mines Limited
(ASX) and Mozambi Coal Limited (ASX).
"This news release includes certain forward-looking statements
or information. All statements other than statements of historical
fact included in this release, including, without limitation,
statements relating to the potential mineralization and geological
merits of the and properties and other future plans, objectives or
expectations of the Company are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's plans or expectations
include risks relating to the actual results of current exploration
activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of
capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time
to time in the filings made by the Company with securities
regulators. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities
legislation."
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Currie Rose Resources Inc. Harold Smith President
(905) 688-9115
Currie Rose Resources (TSXV:CUI)
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