Raki Raki Project
The Raki Raki Project is located in northern Viti Levu and is a 50% joint venture between Peninsula Minerals Limited and Geopacific Resources NL. Geopacific is the manager of the joint venture.
During 2007 soil sampling was completed at the Million Dollar area of the Qalau-4300E grid and outcropping gold mineralisation was located at the Qalaumatai Creek Prospect where channel sampling across outcrop identified thin quartz-adularia veinlets in a gold mineralised basaltic dyke (rock chip assays ranging to 7.12g/t Au and a 1.5m chipped channel sample averaged 2.35 g/t Au).
Assays for 182 stream sediment samples (BCL) from the eastern and central portions (Tataiya Prospect) include gold values ranging to 400ppb Au (Naria creek) and anomalous areas of approximately 1 square kilometre contain BCL stream sediment samples with gold values ranging to 60ppb Au. High palladium (51ppb Pd) was returned at one sample location (9261).
At the Qalau-4300E Prospect high gold values in stream sediments collected south west of Qalau-4300E highlighted a two kilometre zone extending from Qalau which is an interpreted source area for the anomalous gold (Figure 3). The sampling defined an area south of Wasit village (Area A) which extends for over 1km and included anomalous BCL stream sediments up to 34.2ppb Au. South of Qalau (Area B), high gold contents of stream sediment samples (ranging to 47.2ppb Au) indicate an extensive near surface gold anomaly.
2007 drill testing at the Qalau-4300E Prospect commenced during late September and the first drill hole of this programme (DDHQ008) was located 100m grid west of DDHQ001 where high grade gold mineralisation was intersected in late 2006 (DDHQ001 intersected 2.8m from 61.2m of 14.43g/t Au as determined by standard gold assaying methods). Repeat assays of this interval using screen fire assay techniques on the sample residues (approximately 1kg each) which account for coarse ‘nuggetty’ gold returned a higher gold content of 23.02g/t within this zone (2.8m from 61.2m of 23.02g/t Au). The “spotty” and sparse nature of the coarse gold particles in the sample appear to have lead to an under-evaluation of the gold content.
DDHQ008 was drilled towards grid south at 45 degrees in order to test the western extension of the mineralised veining intersected in DDHQ001 and to target the northern end of a strong IP resistivity anomaly.
DDHQ008 intersected zones of epithermal quartz veining between 15.6-21.55m and 86.7-101.3m and these probably represent the western extension to veining in DDHQ001, 06 and 05. DDH013 was drilled beneath DDHQ001 towards grid north east to test for a NW trending vein system. Epithermal quartz-pyrite veining was well developed between 130.70-137.50m in DDHQ013 and this interval contains gold mineralisation.
At the 4300E Prospect drilling in late 2006 intersected near surface gold in DDHQ003 (7m from 29m of 2.23g/t Au) and DDHQ004 (45.2m from 88m of 1.02g/t Au, including 5m of 3.4g/t Au and 3m at 4.45g/t Au).
Follow-up drilling in 2007 included DDHQ009 which was collared 45m metres north of DDHQ004 and drilled to 200m beneath the mineralised intersections. DDHQ009 intersected significant intervals of epithermal quartz veining and brecciation in the top portion of the hole (Figure 5). DDHQ010 was located on the same section 4300E and tested the near surface potential of DDHQ004. This drill hole penetrated conspicuous zones of epithermal banded-quartz veining throughout the length of the hole.
Both DDHQ009 and DDHQ010 intersected wide zones of quartz-pyrite-carbonate veining, shearing, brecciation and alteration typical of an epithermal gold mineralised system. Summary assay data from both drill holes are given in
the table below.
Results from these holes include:
DDHQ009 intersected 5.5 meters from 56.5 meters (down-hole depth) of 1.68g/t Au including 84.3-84.8m of 8.16g/t Au.
DDHQ010 intersected 40.5 meters from 9.5 meters (down-hole depth) of 0.85g/t Au, including 2.5m of 4.48g/t Au from 43m within a zone of quartz-pyrite-carbonate veining. Deeper intervals of similar grade mineralisation were intersected between 52-59.5m and 77.5-91m. Individual assays range up to 9.14 g/t Au and variability of repeated assays indicate that coarse gold may occur in some intervals.
The mineralisation appears to follow an east-west trending zone which corresponds to a band of high resistivity response which is typical of quartz mineralised epithermal systems. The limits of mineralisation intersected in holes DDHQ003, 4, 9 and 10 have not been determined although an interpreted shallow north dipping shear zone may form the lower contact of the mineralised zone. A cross section showing the drill traces of DDHQ004, 9 and 10 is shown
in Figure 5.
DDHQ011 was drilled from a collar located approximately 50m east of DDHQ010. Intersections of alteration and veining are less pronounced in DDHQ011 and significant gold assays were returned beneath transported gravels and soil cover close to the top of bedrock (17.5-22.5m). DDHQ011 may have been too far south to intersect any north-eastern trending zone extending from the mineralisation in DDHQ009 and DDHQ010.
DDHQ012 was located at a chargeability anomaly approximately 60m NW of DDHQ003. No significant zones of alteration and veining were intersected in DDHQ012 and this may indicate that the mineralisation intersected in DDQ009 and DDHQ010 trends to the south west and DDHQ012 was not drilled to sufficient depth to test the western extent of this zone.
For many of the mineralised drill samples, repeat analyses, including screen fire assays are being undertaken for high grade intersections where there is evidence of coarse ‘nuggety’ gold. Silver and base metal analyses are yet to be received for most of the drill samples.
During late 2007 a ground magnetic survey covering the Qalau and 4300E prospects was completed. The results of this work will be fully assessed in 2008 but initial data assessments show a well developed east-west trending fabric transacted by N-NNE trending structures.
Some areas of prominent magnetic ‘lows’ may represent areas of pronounced epithermal bedrock alteration. However, in the 4300E area the gold mineralisation intersected in DDHQ004 and DDHQ010 coincide with an elevated magnetic response and conspicuous NE trending structural offsets in this magnetic ridge are the focus of current exploration and possible future drill testing. The magnetic data will be of considerable help in positioning follow-up drill holes at both Qalau and 4300E areas during 2008 and a study to integrate the magnetic survey results with previous Induced Polarisation (IP) work at Raki Raki is underway.