ASX CODE: TYX
DIRECTORS
Joseph S. Pinto
Non-Executive Chairman
Bruno Seneque Managing Director
Nick Revell Technical Director
Frank Lesko
Non-Executive Director
Yugi Gouw CFO/Company Secretary
SHARE REGISTRY
Advanced Share Registry Limited
110 Stirling Highway
Nedlands WA 6009
T: +61 8 9389 8033
F: +61 8 9389 7871 REGISTERED OFFICE
Level 2 679 Murray Street
West Perth WA 6005
Quarterly Report 30th September 2016
Highlights
-
21 new holes drilled into Greenewood Gold Discovery at Jumbuck with best intersections (reported October 2016) at depth include:
-
Hole 016: 4m @ 4.3 g/t gold from 86m
-
Hole 016: 5m @ 2.2 g/t gold from 104m
-
Hole 026: 1m @ 8.6 g/t gold from 77m
-
3 diamond holes drilled at Zealous Tin Prospect
-
Outstanding Assays from Campfire Bore (Phase 1)
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16CBRC022 1m @ 37.80 g/t gold from 47m
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16CBRC033 3m @ 8.20 g/t gold from 32m
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16CBRC029 1m @ 30.50 g/t gold from 41m
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Successful capital raisings with $3m cash as at 30 September 2016 and a further $2m received in October 2016 from Alliance for the sale of 51% interest in Wilcherry Project.
Overview
Jumbuck Gold Drilling (Phase 2)
A total of 21 holes were completed for 1,498 metres in September 2016 quarter.
Significant intersections greater than 2.0 g/t are summarised in Table 2 for the Greenewood Prospect and Table 3 for the Campfire Bore Prospect. Table 3 contains results for holes that were drilled in the previous quarter and reported during the September quarter.
Zealous Tin (Diamond Drilling)
A total of 3 holes were completed for 718 meters in September 2016 quarter. All results are pending and are expected to be reported in next quarter.
Table 1: Drill Statistics for the September Quarter
|
Prospect Name
|
Total Holes Drilled
|
Total Meters Drilled
|
|
Greenewood
|
21
|
1,498
|
|
Greenewood North
|
5
|
288
|
|
Zealous
|
3
|
718
|
|
29
|
2,504
|
Figure 1: Greenewood and Campfire Bore Location Plan
Figure 2: Zealous Location Map
Greenewood
Holes 16GWRC013 to 16GWRC033 were drilled in the quarter to test down dip of previously established gold mineralisation as well as a possible northern extension to the prospect. Hole 16GWRC016 was drilled beneath 16GWRC012, which intercepted [email protected]/t Au from 53m earlier this year and proved the down dip continuity with an intercept of [email protected]/t Au from 86m, including [email protected]/t Au. Mineralisation has now been established along a continuous structure 60m down dip and remains open. Furthermore, a lower zone of mineralisation was also intersected with a grade of [email protected]/t Au from 106m in the same hole. There is the possibility that this zone has been missed up-dip in previous drilling and so holes since have been drilled to test the potential in this second horizon. Hole 16GWRC013 was drilled to test down dip of 16GWRC003 which intersected [email protected]/t Au. However, drilling conditions proved difficult and a second attempt (16GWRC015) also failed. Nevertheless, a zone of oxidised gold mineralisation was intersected in both "failed" holes with results of up to [email protected]/t Au in 16GWRC015. A later, third attempt to drill this hole to target depth (16GWRC033) was successful and the results for this hole will be reported in early November 2016.
Figure 3: Greenewood Drillhole Location Plan
Table 2: Greenewood Prospect: Significant Intersections > 2.0g/t Au
|
Hole ID
|
Northing
|
Easting
|
DIP
|
AZM
|
EOH
|
Depth From (m)
|
Depth To (m)
|
Intercept Width (m)
|
Au g/t
|
|
GWRC013
|
6721537
|
377325
|
-60
|
128
|
54
|
39
|
44
|
4
|
3.19
|
|
GWRC014
|
6721565
|
377383
|
-60
|
128
|
21
|
23
|
2
|
4.58
|
|
GWRC015
|
6721532
|
377324
|
-60
|
128
|
66
|
36
|
42
|
6
|
2.51
|
|
Including
|
39
|
41
|
2
|
5.22
|
|
GWRC016
|
6721671
|
377464
|
-60
|
128
|
126
|
86
|
90
|
4
|
4.30
|
|
Including
|
87
|
88
|
1
|
10.2
|
|
GWRC016
|
6721671
|
377464
|
-60
|
128
|
126
|
104
|
109
|
5
|
2.22
|
|
Including
|
106
|
107
|
1
|
9.30
|
|
GWRC022
|
6721694
|
377588
|
-60
|
128
|
54
|
25
|
27
|
2
|
2.17
|
|
GWRC026
|
6721683
|
377509
|
-60 128
|
78
|
77
|
78
|
1
|
8.60
|
* Holes GWRC013, 015, 019, 023 failed to reach target depth due to ground conditions.
Greenewood North
Holes 16GWNRC001 to 16GWNRC005 were drilled to follow up anomalous geochemistry across a parallel structure to that at Greenewood 400m to the west.
Campfire Bore
Holes 16CBRC021 to 16CBRC033 were drilled in the June 2016 quarter to test the northern extension of gold mineralisation at Campfire Bore in an area previously only tested by broad spaced scout RAB drilling by previous explorers. This was also the first prospect to be drilled using re- interpreted geochemical data and the results are highly encouraging.
Drill lines were spaced up to 200m apart for the three northern most lines, yet mineralisation proved continuous. The first set of results from this area of drilling was reported on 18/7/16 which included an intersection of 5m @ 8.1g/t Au including 1m @ 36.8g/t Au in 16CBRC015. These latest results have added further significant intercepts (refer Table 3) which include 3m @ 8.2g/t 16CBRC033, 1m
@ 37.8g/t 16CBRC022, and 1m @ 30.5g/t 16CBRC029. These gold intersections have extended the mineralised strike extent by 750m to define a minimum total strike length of 1.25km at Campfire Bore.
Furthermore, the northern most intersection of 1m @ 30.5g/t Au demonstrates that the structure is still open to the north. As drilling has not yet exceeded 50 vertical metres, the depth potential remains open. This provides an extensive set of new, deeper targets for drilling in the second half of 2016.