Technical Report - Quarter Ended 30 September, 2007
1.0 SUMMARY & COMMENTS Macmin Silver Ltd (Macmin) is a silver focused company whose primary projects are the Texas Silver Project, S.E. Queensland, Australia where the Twin Hills Silver Mine is entering production and the Tally Ho Project near Mackay, Central Queensland. Macmin has exposure to gold by way of an 15% equity in New Guinea Gold Corporation (NGG) and a 1% NSR royalty on production by NGG. In addition, Macmin maintains equity investments in junior Australian explorers, Malachite Resources NL and Frontier Resources Ltd.
The Texas Project (EPMs 8854, 11455, and 12858; ML 5932 and ML 50161) is located 100km west of Stanthorpe. Texas Silver Mines Pty Ltd is a wholly owned subsidiary of Macmin Silver Ltd. 2.1 Twin Hills (ML 50161)3.0 EXPLORATION 3.1 Mount Gunyan Project3.2 Tally Ho Silver Project 4.0 CORPORATE
5.0 INVESTMENTS
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Hole No |
Interval |
Length |
Silver |
Lead |
Zinc |
|
From To (m) |
(m) |
g/t |
(%) |
(%) |
|
|
|
|
|
|
MGP293 |
8 - 28 |
20 |
16 |
0.19 |
0.08 |
|
|
|
|
|
|
MGP295 |
|
no significant mineralisation |
|
|
|
|
|
|
|
|
|
MGP297 |
0 - 40 |
40 |
32 |
0.09 |
0.05 |
|
incl. 12 - 16 |
4 |
85 |
0.21 |
0.03 |
|
and 22 - 26 |
4 |
70 |
0.14 |
0.05 |
|
|
|
|
|
|
|
|
|
|
|
|
MGP298 |
28 - 42 |
14 |
21 |
0.05 |
0.09 |
|
incl. 32 - 34 |
2 |
46 |
0.10 |
0.09 |
|
|
|
|
|
|
MGP300 |
|
no significant mineralisation |
|
|
|
MGP301 |
|
no significant mineralisation |
|
|
|
MGP302 |
|
no significant mineralisation |
|
|
|
|
|
|
|
|
|
MGP303 |
2 - 8 |
6 |
28 |
<0.01 |
0.06 |
|
|
|
|
|
|
MGP304 |
|
no significant mineralisation |
|
|
|
MGP305 |
|
no significant mineralisation |
|
|
|
|
|
|
|
|
|
MGD009 |
6 - 22.13 |
16.13 |
32 |
0.07 |
0.06 |
|
|
|
|
|
|
|
42 - 60 |
18 |
74 |
0.08 |
0.14 |
|
incl. 42 - 52 |
10 |
110 |
0.14 |
0.11 |
|
incl. 42 - 43 |
1 |
524 |
0.47 |
0.14 |
|
|
|
|
|
|
|
96.82 - 102.45 |
5.63 |
43 |
0.08 |
0.11 |
|
|
|
|
|
|
|
126 - 128 |
2 |
80 |
<0.01 |
0.08 |
|
|
|
|
|
|
|
|
|
|
|
|
MGD011 |
2 - 20 |
18 |
38 |
0.03 |
0.10 |
|
incl. 12 - 14 |
2 |
72 |
0.04 |
0.13 |
|
|
|
|
|
|
|
62.9 - 68.35 |
5.45 |
39 |
0.05 |
0.06 |
|
|
|
|
|
|
|
72-76 |
4 |
55 |
0.12 |
0.11 |
TABLE 2 – Hole locations for Table 1 data
Hole No |
Northing |
Easting |
Easting |
Northing |
RL |
Depth |
DIP |
AZI |
AZI |
|
Local Grid |
Local Grid |
MGA |
MGA |
|
(m) |
|
MAG |
Local Grid |
MGP293 |
6009 |
5156 |
333008 |
6809817 |
518.1 |
57 |
-90 |
0 |
0 |
MGP295 |
6057 |
5278 |
333126 |
6809876 |
514 |
60 |
-90 |
0 |
0 |
MGP297 |
6092 |
5304 |
333148 |
6809913 |
514.2 |
60 |
-90 |
0 |
0 |
MGP298 |
6100 |
5333 |
333177 |
6809923 |
516.8 |
60 |
-90 |
0 |
0 |
MGP300 |
6146 |
5133 |
332973 |
6809952 |
505.7 |
36 |
-90 |
0 |
0 |
MGP301 |
6170 |
5149 |
332987 |
6809977 |
498.8 |
40 |
-90 |
0 |
0 |
MGP302 |
6200 |
5167 |
333003 |
6810008 |
500.7 |
37 |
-90 |
0 |
0 |
MGP303 |
6208 |
5242 |
333077 |
6810023 |
510.3 |
41 |
-90 |
0 |
0 |
MGP304 |
6214 |
5306 |
333140 |
6810034 |
506.8 |
36 |
-90 |
0 |
0 |
MGP305 |
6200 |
5351 |
333186 |
6810024 |
511.7 |
39 |
-90 |
0 |
0 |
MGD009 |
5603 |
5200 |
333087 |
6809416 |
585.6 |
150 |
-60 |
78 |
93 |
MGD011 |
5612 |
5229 |
333116 |
6809428 |
583 |
91.5 |
-60 |
75 |
90 |
Ongoing drilling is currently targeting depth extensions within the central portion (around 5700N) of the known mineralisation, utilising a combination of percussion and diamond drilling techniques. This central area has previously returned some strong silver-gold results (ASX release 17th January 2003), with a best intercept from MGD1 of 1m at 300g/t silver and 43.2g/t gold from 152m. A number of the better intercepts are shown in Table 3, with the associated hole location data in Table 4.
TABLE 3 – Some better intercepts from historical drilling
Hole No |
Interval |
Length |
Silver |
Gold |
|
From To (m) |
(m) |
g/t |
g/t |
|
|
|
|
|
MGP1 |
130 - 160 |
30 |
20 |
2.8 |
|
incl. 130 - 132 |
2 |
55 |
22.6 |
|
and 156 - 158 |
2 |
90 |
12.3 |
|
|
|
|
|
MGD1 |
149 - 154 |
5 |
65 |
8.8 |
|
incl. 152-153 |
1 |
300 |
43.2 |
|
|
|
|
|
MGRC13 |
124 - 134 |
10 |
69 |
<0.01 |
|
incl. 126 - 128 |
2 |
172 |
<0.01 |
TABLE 4 – Hole locations for Table 3 data
Hole No |
Northing |
Easting |
Northing |
Easting |
RL |
Depth |
DIP |
AZI |
AZI |
|
Local Grid |
Local Grid |
MGA |
MGA |
|
(m) |
|
MAG |
Local Grid |
MGD1 |
5713.5 |
5212.2 |
6809528 |
333089 |
610 |
178.2 |
-60 |
255 |
270 |
MGP1 |
5710 |
5211.7 |
6809524 |
333089 |
610 |
200 |
-60 |
255 |
270 |
MGRC13 |
5710 |
5158 |
6809519 |
333036 |
598 |
162 |
-90 |
0 |
0 |
Recent re-assaying (as discussed further below) of the 152-153m zone from MGD1 has returned 1m at 592g/t silver and 172g/t gold, indicating that there is potential to locate very strong silver-gold mineralisation in the deeper sections of this central portion of the Mt Gunyan mineralising system.
Current drilling targeting this central mineralised zone has intercepted 38cm of semi massive sphalerite, galena, pyrite ± silver sulphosalts within a board zone of strong siliceous, carbonate and chlorite alteration. Drill core is currently being processed and will be sent for assay as soon as possible.
This style of mineralisation has not previously been intercepted at Mt Gunyan and opens the potential for more high-grade massive sulphide mineralisation, while the relationship between the massive sulphide mineralisation and the very strong silver-gold mineralisation is yet to be established.
Re-assaying
As a large proportion of the current drilling programme is planned as diamond drilling a review of the ¼ core sampling used for the previously drilled diamond holes (3 holes in total) was undertaken by re-sampling and assaying a section of MGD1 using ½ core. It was anticipated that by assaying a larger sample one would get a more representative result and accommodate any ‘nugget effect’ that might be present in areas where higher gold values are located.
Results of the original ¼ core samples and the ½ core samples recently sent for assay, around the 152-153m zone of MGD1 are shown in Table 5. In the area of elevated gold and silver results the ½ core seems to account more fully for all the gold and silver present.
As a result all sampling of diamond core carried out during the current drilling programme will be undertaken on a ½ core basis.
TABLE 5 – Re-assay results for MGD1
Hole MGD1 |
|
1/4 Core Samples |
|
1/2 Core Samples |
|||
From |
To |
|
Silver (g/t) |
Gold (g/t) |
|
Silver (g/t) |
Gold (g/t) |
150 |
151 |
|
9.4 |
0.25 |
|
8 |
0.13 |
151 |
152 |
|
4.4 |
0.12 |
|
3.1 |
0.03 |
152 |
153 |
|
300 |
43.2 |
|
592 |
172 |
153 |
154 |
|
8 |
0.46 |
|
10 |
0.25 |
154 |
155 |
|
4.2 |
0.03 |
|
5.4 |
0.08 |
Sampling and Assaying Details
Sampling of percussion holes was undertaken over the full length of each hole on a 2 metre interval basis. Sampling of Diamond Core was undertaken over mineralised and altered zones, sample intervals were determined from geological intervals. In broad zones of alteration 2 metre intervals were selected.
As part of the Company’s quality control programme, a duplicate sample is collected about every 20 samples and submitted under a different sample number providing a check on repeatability.
Assaying is carried out by ALS Chemex in Brisbane using the ICP technique for silver, copper, lead, zinc, arsenic and antimony. Gold is assayed by the ICPMS technique.
Assaying Details of the Re-Sampling
Assaying of the ½ core material from MGD1 was carried out by ALS Chemex in Brisbane using the ICP technique for silver, copper, lead, zinc, arsenic and antimony. Gold is assayed by the ICPMS technique, with values greater than 100g/t being fire assayed.
D.M. O’Neill
MANAGING DIRECTOR
27th September 2007
"MORE HIGH SILVER (711g/t) AND GOLD (10.15g/t) VALUES FROM DRILLING COMPLETED AT TALLY HO"
Summary
Macmin Silver Ltd has recently received assay results for the final 12 drill holes from the drilling programme completed at our Tally Ho prospect in May 2007. Highlights of the drill holes are as follows:
GRRC44 15m (21-36m) at 230g/t Silver, 0.06g/t Gold and 0.05% Zinc
Incl. 2m (22-24m) at 676g/t Silver, 0.17g/t Gold and 0.03% Zinc
10m (49-59m) at 272g/t Silver, 0.49g/t Gold and 3.90% Zinc
Incl. 2m (57-59m) at 711g/t Silver, 2.11g/t Gold and 7.64% Zinc
GRDD9 1m (126-127m) at 384g/t Silver, 10.15g/t Gold and 0.35% Zinc
GRDD10 1m (135-136m) at 512g/t Silver, 1.05g/t Gold and 0.34% Zinc
GRDD14 1m (224-225m) at 283g/t Silver and 3.18g/t Gold
GRDD19 2m (144-146m) at 177g/t Silver and 1.65g/t Gold
Drilling
Final assay results for the drilling programme completed in May 2007 at the Tally Ho prospect have recently been received. The best intercepts from the final 12 drill holes are presented in Table 1, with hole location data shown in Table 2. The Tally Ho prospect is part of the Central Queensland Project and is situated approximately 45km southwest of Mackay in Central Queensland.
Holes GRRC44, 45 and 47 are from the northern section of the mineralised breccia with a best intercept of 2m at 711g/t Silver, 2.11g/t Gold and 7.67% Zinc in GRRC44 from 57m located within a mineralised zone which extended from surface to 81m downhole assaying 109g/t Silver, 0.12g/t Gold, 1.03% Zinc, 0.16% Lead and 0.19% Copper.
Holes GRDD9, 10, 14 and 19 have all intersected zones of strong silver/gold mineralisation, with a best intercept of 1m at 384g/t Silver and 10.15g/t Gold in GRDD9 from 126m. All of these intercepts are deeper (downhole) than the extensive silver/zinc (+/-gold, lead and copper) mineralisation. Earlier drilling results (see previous ASX releases dated 7th June 2007 and 10th July 2007) also support the existence of a deeper (downhole) silver/gold rich zone of mineralisation.
The exact nature and relationship of the ‘deeper’ silver/gold mineralisation and the more extensive silver/ zinc (+/-gold, lead and copper) mineralisation is uncertain at present, but will be reviewed as part of a comprehensive evaluation of all drilling data completed on the Tally Ho prospect. The ‘deeper’ silver/gold mineralisation may represent a separate mineralising event, which has over printed or been over printed by the silver/zinc (+/-gold, lead and copper) mineralisation. A better understanding of this relationship will assist with targeting future drilling both on the Tally Ho prospect and exploration on the surrounding tenements.
Production of drill sections spaced 20m apart (on a recently established local grid) over the strike length of the prospect is underway, which will allow a full sectional review of all drilling data with the aim of gaining a greater understanding of the mineralising system (ie breccia pipe) and producing a JORC compliant resource. Two drill sections [5040N and 4980N] show the silver equivalent* mineralisation and its relationship to the breccia granite from the drilling carried out to date.
The breccia mineralising system (ie breccia pipe), which trends north north-east has been drill tested over a strike length of 180-200m. There is potential to locate further mineralisation of this nature either along strike (both to the north north-east and the south south-west) and/or as a parallel system. It is planned to undertake a programme of reconnaissance drilling in the coming months, utilising one of the Company’s privately owned drilling rigs, to test for further mineralisation along strike.
A programme of soil sampling and prospecting is currently in progress, over an area of approximately 1.2 x 1.5km (centred on the Tally Ho prospect), with the aim of identifying further drill targets.
Drill Hole Numbers
Hole numbers GRRC39 and GRDD11, 12 and 13 have not been used.
Sampling and Assaying Details
Sampling of reverse circulation holes was undertaken over 1m and 2m intervals within the visual breccia zones (ie mineralised zones) and over 4m intervals through the un-brecciated, unaltered zones (ie non-mineralised zones).
Diamond core has been sampled over 1m intervals (1/2 core) within the breccia zones, with the altered margins being sampled over 2m intervals (1/4 core) for 2-4 samples either side of the breccia zones. Most diamond core has only been sampled in the area of the brecciation and alteration.
A few diamond holes have had more extensive sampling over the full length of the hole at 4m intervals out side of the brecciation and alteration zones.
As part of the Company’s quality control programme, a duplicate sample is collected about every 20 samples and submitted under a different sample number providing a check on repeatability.
Assaying is carried out by ALS Chemex in Brisbane. Samples are subjected to an Aqua Regia digest followed by analysis for Silver (Ag), Copper (Cu), Lead (Pb), Zinc (Zn), Arsenic (As), Antimony (Sb), Bismuth (Bi) and Molybdenum (Mo) by the ICP-AES technique and Gold (Au) by the ICP‑MS technique.
TABLE 1 – Best Intercepts
|
|
|
|
|
+Assays |
|
|
|
*In ground value |
Hole No |
Interval (m) |
Length |
Silver (Ag) |
Gold (Au) |
Zinc (Zn) |
Lead (Pb) |
Copper (Cu) |
Silver Equiv. |
|
|
From |
To |
(m) |
(g/t) |
(g/t) |
(%) |
(%) |
(%) |
(g/t) |
|
|
|
|
|
|
|
|
|
|
GRRC044 |
0 |
81 |
81 |
109 |
0.12 |
1.03 |
0.16 |
0.19 |
255 |
|
Including |
|
|
|
|
|
|
|
|
|
2 |
5 |
3 |
191 |
0.11 |
0.03 |
0.35 |
0.06 |
223 |
|
21 |
36 |
15 |
230 |
0.06 |
0.05 |
0.12 |
0.21 |
287 |
|
incl. 22 |
24 |
2 |
676 |
0.17 |
0.03 |
0.23 |
0.04 |
702 |
|
42 |
43 |
1 |
29 |
0.09 |
3.54 |
0.05 |
0.05 |
369 |
|
49 |
59 |
10 |
272 |
0.49 |
3.90 |
0.48 |
0.49 |
772 |
|
incl. 57 |
59 |
2 |
711 |
2.11 |
7.64 |
0.19 |
1.20 |
1781 |
|
64 |
70 |
6 |
80 |
0.10 |
3.91 |
0.16 |
0.32 |
515 |
|
77 |
81 |
4 |
113 |
0.49 |
2.66 |
0.15 |
0.28 |
445 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GRRC045 |
0 |
53 |
53 |
63 |
0.06 |
0.54 |
<0.01 |
0.09 |
138 |
|
Including |
|
|
|
|
|
|
|
|
|
3 |
7 |
4 |
116 |
0.10 |
0.01 |
0.26 |
0.04 |
138 |
|
38 |
45 |
7 |
129 |
0.04 |
1.71 |
0.03 |
0.18 |
329 |
|
47 |
53 |
6 |
193 |
0.37 |
2.61 |
0.13 |
0.28 |
514 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GRRC046 |
67 |
75 |
8 |
273 |
0.19 |
3.30 |
0.04 |
0.31 |
651 |
GRRC047 |
33 |
40 |
7 |
144 |
0.15 |
0.84 |
0.07 |
0.14 |
261 |
|
incl. 35 |
38 |
3 |
294 |
0.29 |
1.26 |
0.03 |
0.20 |
467 |
|
56 |
64 |
8 |
19 |
0.03 |
0.98 |
0.05 |
0.08 |
129 |
|
67 |
68 |
1 |
51 |
0.53 |
1.99 |
0.07 |
0.16 |
296 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GRRC048 |
88 |
95 |
7 |
27 |
0.05 |
0.48 |
0.03 |
0.11 |
98 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GRDD009 |
126 |
127 |
1 |
384 |
10.15 |
0.35 |
0.03 |
0.27 |
1015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GRDD010 |
135 |
136 |
1 |
512 |
1.05 |
0.34 |
0.35 |
0.66 |
749 |
|
143 |
144 |
1 |
349 |
0.46 |
<0.01 |
<0.01 |
0.02 |
378 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GRDD014 |
224 |
225 |
1 |
283 |
3.18 |
<0.01 |
<0.01 |
0.03 |
459 |
|
235 |
236 |
1 |
107 |
0.56 |
<0.01 |
<0.01 |
0.01 |
140 |
|
|
|
|
|
|
|
|
|
|
GRDD016 |
no significant mineralisation |
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
GRDD017 |
140 |
141 |
1 |
89 |
0.07 |
0.56 |
0.18 |
0.12 |
191 |
|
172 |
178 |
6 |
43 |
0.06 |
0.03 |
0.04 |
0.12 |
76 |
|
incl. 177 |
178 |
1 |
107 |
0.17 |
0.03 |
0.08 |
0.29 |
183 |
|
193 |
194 |
1 |
119 |
0.91 |
0.03 |
0.02 |
0.17 |
208 |
