Business
Exploration Update - Georgia
Exploration Update - Georgia.
About this update from Arc Minerals Limited
[{"type":"text","content":"\n\n Templar Minerals Limited\n13 November 2007\n\n\n\n\n13 November 2007\n\n\n Templar Minerals Limited\n (\"Templar\" or the \"Company\")\n\n Initial exploration results from the Adjaria Gold Project\n\n\nTemplar Minerals (\"AIM: TMP\") is pleased to announce results from the analysis\nof samples from the Adjaria Project in the Republic of Georgia:\n\n\n• Nine metres of continuous channel sampling across the orebody averaged\n a gold value of 3.11g/t with a maximum value of 7.98 g/t;\n\n• Eight metres averaging 0.95 g/t with a maximum of 2.85 g/t;\n\n• Sample area of approximately 1.5km has a background gold grade of\n approximately > 0.5g/t; and\n\n• Additional highly prospective areas within the 110km2 licence area in the \n Adjaria Project are now being sampled for both gold and base metals.\n\n\nDavid Lenigas, Chairman said: \"The initial exploration sample results at\nAdjaria has returned very encouraging gold values. Together with the\nsubstantial body of information available from the Soviet era it is clear that\nthe Project has the potential to become a significant minable gold resource. We\nare accelerating the exploration programme with drilling anticipated for the\nfirst Quarter of 2008.\"\n\nSome 300 chip samples were collected from appropriate sites on the Adjaria\nProject between August and September 2007. These confirmatory samples were\nsubmitted to the ISO certified laboratory, ALS Chemex in Turkey, in order for\ngold assay and multi-element analysis to be undertaken.\n\nSpecific technical reporting of true widths and grades on appropriate maps and\nplans will be released as the future work programme proceeds and base metal\nanalysis results from the 300 chip samples are expected shortly.\n\nHistoric non- JORC compliant Russian resource estimates indicated a total\nmineral resource for the Adjaria Project of: Copper 74,800 tonnes, Lead 15,000\ntonnes, Zinc 11,000 tonnes, Gold 0.652 tonnes and Silver 15.1 tonnes. The source\nof the data was from Russian generated reports which were assessed by Venmyn\nRand (Pty) Limited (independent specialist advisor in mineral project valuation\nand statutory compliance) and reported upon in their Independent Prospectivity\nReport dated 5th July 2007. Since this historic work provided an indication of\ngold and base metal potential further exploration to international stan...