Business
Exploration Update
Exploration Update.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n Templar Minerals Limited 12 June 2008 \n \nFor immediate release 12 June 2008\n\n\n\nTemplar Minerals Limited\n\n(\"Templar Minerals\" or \"the Company\")\n\nExploration Update \n\nLatest results confirm Soviet era exploration results\n\n\nTemplar Minerals (AIM -\"TMP\"), the gold and base-metal exploration and production company with operations in Fiji and the Republic of Georgia, is pleased to announce initial results from the Phase 1 HQ diamond drilling program on the Vaio target orebody. Vaio is one of 9 targeted orebodies defined during the Soviet era in Templar's 90% owned Adjara Project area, Republic of Georgia. Historic non-JORC compliant Russian resource estimates indicated a total mineral resource for the Adjaria Project of: Copper 74,800 tonnes, Lead 15,000 tonnes, Zinc 11,000 tonnes, Gold 0.652 tonnes and Silver 15.1 tonnes.\n\nOf the four holes (1204 m total) drilled at Vaio target orebody, assay results of selective sampling of three holes (VAIO_001 to VAIO_003) have been returned from ALS Chemex.\n\nHighlights\n\n\n\nVaio Phase 1 drilling intersects Au-Ag-Pb-Zn mineralization\n\n\nIntersections include 2.25 m grading 8.00% Zn, 2.95% Pb, 4.96g/t Au & 20.67 g/t Ag\n\n\nConfirms Soviet era exploration results\n\n\nSoviet era adits rehabilitated and accessible at Vaio & Varazza\n\n\nTo date the Phase 1 drill programme has targeted 500 metres of the approximately 900 metre strike length mineralized system defined during the Soviet era. Drill holes were inclined at between 45o and 85o to an average depth of 330 metres. Recent field mapping at Vaio has revealed previously unknown historical exploration activity including adits and trenches with polymetallic mineralized veins and pyritization immediately west of the current target orebody. This suggests an approximately 50% increase in the previously known extent of the target orebody. These results have served to further confirm the validity of available Soviet era exploration data at Vaio and the remaining target orebodies in the license area, and will be used to effectively focus future exploration and resource definition activities. A Phase 2 drilling program is currently in preparation to test open-endedness laterally and vertically, as well as infil...