Niuminco successfully completes first of seven drill holes at Aberfoyle

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Niuminco Group Limited announced that its 72.5% owned subsidiary, TNT Mines, completed the first of its seven hole diamond drilling program aimed at testing the relatively near surface potential of the Lutwyche, Kookaburra and associated vein systems which are the north-eastern part of the historic major tin and tungsten Aberfoyle mineralised system in Tasmania.

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Niuminco said the targets have not previously been mined, although there is extensive underground development at depth on the Lutwyche system.

“The Company is very encouraged by the results from the first drill hole, LDD 001, which was completed at 18m. It was aimed to test the tenor of tin and tungsten mineralisation, as cassiterite and wolfram respectively, in the Johnson and Kookaburra sheeted quartz vein systems which outcrop at surface,” the company told the ASX.

“Visible cassiterite has been logged in two main zones, between 82m and 114m, and from 176.4 to 181m. The former includes a vein of 21 cm downhole length and one of 10cm downhole length, each with strongly visible cassiterite mineralisation: it is likely to be part of the Johnson vein system. The cassiterite occurs at lower grades throughout the deeper interval, which is probably the Kookaburra system.”

According to Niuminco, sampling will begin this week, with assays expected in about a month. The company also said that mineralisation from all holes and from the rest of the program will be three dimensionally modelled after completion of the programme.