Microsoft Word - QuarterlyReport 30 September2015
29 October 2015 ASX Limited
Centralised Company Announcements Office Exchange Centre 20 Bridge Street
Sydney NSW 2000
ZAMIA METALS LIMITED QUARTERLY ACTIVITIES REPORT
For the quarter ended 30 September 2015
COMPANY STRATEGY
In view of the current climate in the mineral exploration industry and the Company's current cash reserves, Zamia Metals Limited (Zamia) has been implementing cost‐cutting measures aimed at conserving cash and maintaining priority tenements in good standing. At the same time, the Company has been using this period to:
-
review and re‐assess previously collected exploration data;
-
re‐prioritise targets; and
-
develop more focussed exploration programs.
TARGET ASSESSMENT AND EXPLORATION PLANNING
EPM 17703 Disney
As previously reported, EPM 17703 has good potential for discovery of epithermal gold deposits. During first‐half 2015, Zamia's work highlighted the extent of the geochemical anomalism at the Big Red prospect. During the September quarter, the geochemical signature of the Big Red target was compared with known epithermal deposits in central Queensland to assess the discovery potential of the prospect and aid the planning of a reverse circulation (RC) drilling program.
EPM 15145 Mazeppa Extended
The Belyando gold deposit, mined as an open‐cut operation during the late 1980s and early 1990s, provides a target for a bulk gold deposit. Zamia plans an induced polarisation (I.P.) survey to identify targets for an RC / diamond drilling program.
Porphyry Copper Targets
Zamia has conducted a review of the Hill 271, Mistake Creek and Mount McLaren porphyry copper targets. As a result of this work, I.P. surveys have been planned for these targets.
LOOKING AHEAD
Zamia is in the process of securing funding to implement the planned I.P. and drilling programs.
Dr Ken Maiden
Director, Zamia Metals Limited
Competent Person
Dr Ken Maiden, MAIG FAusIMM, a Director of Zamia Metals Limited, compiled the geological technical aspects of this report. He has sufficient experience to qualify as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Maiden consents to the inclusion of the matters in the form and context in which they appear and takes responsibility for data quality.