ASX ANNOUNCEMENT
19th May 2009
CSIRO and Corvette Resources Join
Forces in Gold Research
Highlights
? Corvette
to commence collaborative geological study with CSIRO as part of the Minerals
Down Under National Research Flagship.
? Project
will use advanced technology to increase the understanding of mineralisation at
the Corvette Prospect, in the Albany-Fraser Belt.
? Results
will help target ongoing RC and diamond drill programmes.
Emerging gold developer Corvette
Resources Ltd (ASX: COV) (The Company) has joined forces with
CSIRO in a collaborative study which will improve the geological understanding
of the exciting Albany-Fraser gold belt, and the Corvette mineralisation.
The study will use leading edge
exploration technology from CSIRO to analyse drill samples from the Corvette?s recent drilling
programmes, to build advanced 3D models of the mineralisation on the Plumridge project.
This will advance understanding of
the geology, geochemistry, alteration, structure and mineralisation at the
project, and the under-explored Albany-Fraser gold province.
Corvette?s Plumridge
project covers an extensive area of granted exploration licences, east of Kalgoorlie
(Figure 1).
The 2,200km2 project is
situated on the margin of the Albany
Fraser Province
and the interpreted reworked transitional margin of the Yilgarn
Block, which hosts the 5 Moz Tropicana-Havana gold deposit, discovered by the Anglogold
Ashanti/Independence JV partners. The area is under-explored, due to extensive
ground cover and differing rock types to the Yilgarn
gold deposits.
The CSIRO project will be part of
the Minerals Down Under National Research Flagship program, and will
work with the WA Centre of Excellence for 3D Mineral Mapping (C3DMM). The
project is expected to be completed in four to five months, but information
will flow within five weeks of project commencement.
The program will incorporate hyperspectral drill chip logging system, portable XRF, and
data generated by the company. Analysis will be augmented by
mineralogical analysis using Scanning Electron Microscopy and Electron
Microprobe techniques. This information will be integrated in order to
build a 3D model of the Corvette mineralization.
Dr James Cleverley,
Senior Geochemist with CSIRO Exploration & Mining said ?The Plumridge project offers us the chance to apply cutting
edge technology, and analyse Corvette Resources data, to start to build an
integrated 3D mineral system model for this emerging area of the Albany-Fraser mineral
district?.
Corvette Resources Managing Director
Patrick McManus said the study would contribute to an improved understanding of
what was an emerging gold province.
?It
will improve our understanding of the gold mineralization within Plumridge, and more particularly of the Corvette prospect,?
Mr McManus said.
?We
will be able to capitalise on the resources and skills of CSIRO and C3DMM, and
apply advanced technology to better target the RC and diamond drill stages of
our ongoing exploration programme,? Mr McManus said.
Corvette has been actively exploring
the Plumridge Project since June 2007 and has
recently announced encouraging results from the first RC drilling programme on
the Corvette Prospect, 60km south of Tropicana-Havana (figure 1). Best results
from this program (announced 5th and 9th of March 2009)
include 1m at 15.2 g/t Au from 119m to end of hole.
Figure 1 Location plan of Plumridge
Project and Corvette Prospect
Yours Faithfully:
Patrick McManus
Managing Director
19th May 2009
For Further information please contact:
Corvette Resources Limited
Level 4, 14-16
Victoria Avenue
Perth
WA 6000
Telephone:
+61 8
9421 1912
Fax:
+61 8 9221 7866
Email:
pmcmanus@corvetteresources.com.au
Web site:
www.corvetteresources.com.au
Investor Relations:
Warrick Hazeldine/Ryan
McKinlay
Purple
Communications
Tel: +61 8 6314 6300
The information in this report
that relates to Exploration Results is based on information compiled by Mr Mark Teakle, who is a Member
of the Australasian Institute of Mining and Metallurgy and a Member of the
Australian Institute of Geoscientists. Mr Teakle is an employee of Corvette Resources Ltd and has
sufficient relevant experience to qualify as a Competent Person as defined in
the 2004 Edition of the Australasian Code for Reporting of Exploration Results,
Mineral resources and Ore Reserves. Mr. Teakle
consents to the inclusion in the report of the matters based on his information
in the form and context in which it appears.
Issued by
Purple
Communications
Level 3, 28
Kings Park Road, WEST PERTH
WA 6005
Ph: 08 6314 6300 Fax: 08 6314 6355
purple@purplecom.com.au