Strandline Resources - Major Tanzanian Exploration and Feasibility Campaign
Strandline Resources (ASX:STA) has reported on its expanded mineral sands exploration program in Tanzania. Infill and extensional drilling has been completed at Fungoni, with the drilling rig now moved to Tanga South. The Tanga South drilling is aimed at extending the Tajiri resource as well as reconnaissance programs at Tongoni and Pangani. Assay results are expected to start flowing through in late September/early October.
Tanzanian-focused mineral sands developer, Strandline Resources (Strandline or the Company) is pleased to provide an update on its current exploration program. Following a recent equity raising, the Company is now aggressively ramping up its exploration and development program.
- Resource Extension and Feasibility Study – The drilling campaign to infill and extend existing high grade Mineral Resources at Fungoni has been completed, adding a potential 400m of strike to the previously defined mineralisation. The Company is now preparing for a mineral resource update, bulk metallurgical testwork, optimal flowsheet design and marketing studies.
Tanga South Project
- Tajiri Mineralised Corridor - Resource extension drilling has commenced between and along strike of the high grade deposits, already defined within the 25km long mineralised corridor.
- Tongoni and Pangani Projects – Maiden drill campaigns being finalised targeting discovery of new zones of high value mineralisation at these projects.
Aeromagnetic and Radiometric Survey
- An extensive 20,000 line-km, high resolution survey underway over much of the Company’s Tanzanian land tenure, designed to significantly assist in delineating new zones of heavy mineral sands.
Strandline Managing Director, Tom Eadie commented, “The Company is now in the middle of a very active phase of aggressive exploration and resource building.
“The current program involves drilling programs across four high priority targets in Tanzania over the next 3 months, aimed at extending known Resources as well as new discoveries.
“The Fungoni Feasibility Study is progressing well, with drilling and re-logging identifying potential resource extensions that may extend the potential mine life and therefore economic returns.”
Fungoni Project - Resource Extension and Feasibility
Approximately 140 holes totalling 1700m of infill and extensional aircore (AC) drilling were completed at the Fungoni Project (Figures 1, 2 & 3). The holes were designed to infill existing resource drilling completed by Jacana Resources in 2012 reducing the drill pattern from 100 x 200m to 50 x 100m (Figure 3). The samples generated from this program will also provide additional material for mineral assemblage characterisation and geological domain definition prior to updating the resource model.
The updated mineral resource model will be used to select a 7 to 10 tonne composite sample for metallurgical testwork, essential to develop the optimum mining method, processing flow sheet, and product suites. Importantly, this will provide high value product samples for marketing in the short term.
In addition, re-logging of previous drill samples stored from the 2012 drill program has yielded some extensional heavy mineral targets to the north and south along strike of the Fungoni Mineral Resource. Field logging of the drill samples shows that shallow surface mineralisation extends a further 400m from the existing resource boundaries.
The samples are currently being processed in Tanzania prior to export to Australia for heavy mineral analysis.
As part of its development commitment, the Company lodged a preliminary Environmental Impact Assessment (EIA) Report for the Fungoni Project with the Tanzanian environmental regulatory authorities in late July 2016. A field visit by the Tanzanian Government’s technical review panel will be carried out in early September. Feedback from this meeting will allow the report to be finalised efficiently.
Tanga South - Tajiri Mineralised Corridor
Access lines and drill pads have been cleared for the current AC drill program along the Tajiri Mineralised Corridor Exploration Target (refer to ASX announcement 15/06/2016).
The Company has previously estimated an Exploration Target of 100 to 270mt at between 3% to 5% Total Heavy Minerals (THM) for this prospective 25km long zone (which is in addition to the existing Indicated Resources of 59mt @ 3.7% THM for 2.2mt contained THM). Strandline would caution the reader that the potential quantity and grade of the combined Exploration Target is conceptual in nature and shows there is insufficient supporting information to define a JORC Compliant Mineral Resource. It is also uncertain if further exploration and resource development work will result in the determination of a Mineral Resource.
The Company has commenced a 4,000 to 5,000m AC drill program across these Exploration Targets and is expected to be completed over the next 4 weeks. The drilling will be conducted on 400 to 1,600m spaced drill lines with drill holes located every 200m along the lines (Figure 4). Additional infill drilling will be undertaken based on field results.
Tanga South - Tongoni and Pangani
Within the Tanga South Project, maiden AC drill programs will also be undertaken at the Tongoni and Pangani prospects.
Historic surface geochemistry and detailed aeromagnetic/radiometric data has been compiled to generate priority targets for drill testing. A systematic grid-based drill program has been designed to provide coverage over the majority of the tenure with closer spaced drill patterns targeting the higher priority zones. A total of 5,000m is planned for this program, which will test approximately 30km of strike within this highly anomalous zone. Drilling will commence once the Tajiri AC drill program is completed in September.
Aeromagnetic and Radiometric Survey
A detailed airborne geophysical survey has commenced, extending across all prospective tenements (aside from the Tanga South Project, which has already been flown) using 100m to 200m flight lines and a flight height of 30m.
A total of approximately 20,000 line-km have been planned for this extensive aerial magnetic, radiometric and topographic survey. The technique was very successful in delineating coherent target zones for heavy minerals at Tanga South. The data generated from this geophysical survey, combined with the existing surface geochemistry and mapping data sets will form a powerful and value-adding targeting tool for the Company in exploration for further heavy mineral accumulations for drill testing.
Southern Region Projects
Upon completion and processing of the regional geophysical survey the data will be integrated with our extensive geochemical database to target and prioritise drill programmes for the southern Tanzanian projects.
Following the recent placement and Rights Offer the Company is well cashed up and as at 31 August had A$4.8 million in the bank.