SIRIUS VIEWS RESULTS AT KADIICA COPPER PROSPECT IN MACEDONIA AS ENCOURAGING
Friday, 10 March 2006
Suspended Drill Hole To Be Extended To At Least Target Depth Of 400m Drilling Crew To Be Re- Mobilised When Weather Improves > 50m Thick Supergene Blanket Grading 0.2p.c. Copper Outlined Over 1.5km2
Although its exploration programmes in Macedonia have been
suspended due to the onset of winter weather conditions, AIM-quoted
Sirius Exploration is pleased to report that it has successfully
located primary copper mineralisation at the Kadiica property, beneath
an extensive leached cap and an underlying supergene enrichment
blanket. The results to date have been encouraging and Phelps Dodge
Exploration Corporation (“Phelps Dodge”), as operator, intends to
continue joint venture drill hole 11 at Kadiica (currently suspended)
to at least its planned 400m depth, when the weather improves.
Three
further deep holes have been drilled with Hole 11 as yet uncompleted.
The objective is to delineate the extent of the supergene blanket at
Kadiica and determine the nature and size of any underlying
mineralisation.
Drilling was suspended in December, as
anticipated, because of the onset of winter. By then, Hole 10 at
Kadiica had been completed to a depth of 263m, having penetrated a
supergene enrichment blanket 90m thick and averaging 0.19p.c. copper.
This included a 45m section grading 0.26p.c. copper.
The
underlying primary copper mineralisation is low grade (0.1p.c. copper).
Weak alteration and stockwork suggest the hole has traversed the outer
margin of the porphyry system. These results are similar to those of
Hole 9, the first in the current programme, which intersected 63m of
supergene mineralisation grading 0.22p.c. copper underlain by a
stockwork.
Hole 11, sited to examine an untested portion
of the system and seeking the heart of the primary porphyry
mineralisation, was temporarily suspended in December at a depth of
232m in primary stockwork mineralisation after cutting “good supergene
enrichment.” This hole has intersected the supergene blanket (54m at
0.2p.c. copper), followed by weak porphyry mineralisation to a depth of
199m, states Sirius. From there to the current end of the hole,
stockwork veining and disseminated sulphide mineralisation increase
significantly, and the latest assays, to 220m depth, show that last 23m
averaged ~0.11p.c. copper.
Sirius says the supergene
blanket at Kadiica has now been intersected in 8 of the 11 holes
drilled (the first 8 by the earlier Phelps Dodge campaign). It has been
closed off to the south and west, partially so to the east, but remains
open to the north. Drilling is widely spaced at present but ground
magnetics suggest no internal interruptions to the supergene blanket.
To date, Sirius estimates that the blanket has been outlined over an
area of 1.5km2 at an average thickness of 60m and a grade of 0.2p.c.
copper.
Kadiica and Osogovo, located in the Balkan
porphyry trend, were recognised as porphyry copper systems as a result
of earlier work undertaken by leading copper producer Phelps Dodge.
Under its agreement with the US major, Sirius is following up the
latter’s earlier work to determine if these targets are of sufficient
size and grade to interest Phelps Dodge.
QUALIFIED PERSON
Dr
Nicholas Badham, Managing Director, is a fellow of the Geological
Society, a Chartered European Geologist, a Fellow of the Society of
Economic Geologists and was formerly Chief Geologist of RTZ Mining and
Exploration Limited. He has read and approved the technical disclosure
in this regulatory announcement.
Further Information:
Richard Poulden, Chairman, Sirius Exploration Plc. Tel: 01453 511900/07769-721512
Ron Marshman, City of London PR Ltd. Tel: 020-7628-5518
John Greenhalgh, City of London PR Ltd. Tel: 020-7628-5518
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Suspended Drill Hole To Be Extended To At Least Target Depth Of 400m Drilling Crew To Be Re- Mobilised When Weather Improves
