CUI Currie Rose Resources Inc

Currie Rose Resources Inc. (the company) (TSX VENTURE:CUI)(PINK SHEETS:CUIRF)
has been informed by Liontown Resources Limited that the following news release
has been issued with respect to the Jubilee Reef Joint Venture in Tanzania, East
Africa.


"Liontown Resources Limited (ASX:LTR) is pleased to report that results from the
Company's maiden drilling program at its Jubilee Reef JV in Tanzania, East
Africa (see Figure 1) indicate potential for the Project to host large-scale
gold deposits with significant widths and grades of mineralisation intersected. 


A program comprising approximately 4,000m RC and RAB drilling was undertaken at
three gold prospects (see Figure 2) and was designed to test beneath and along
strike of previously reported shallow gold intersections (see ASX announcements
dated 25th January and 27th January 2011). 


Better intersections are listed above and results for all holes for which assays
have been received are appended. Assay results are still pending for one RC hole
drilled into the Shangaza/Panapendesa gold target and for 12 RC holes drilled
into iron targets located in the eastern part of the Project area. 


Holes JBRRC018 and JBRRC019 were drilled at the Masabi Hill prospect (see Figure
3) and confirm the down dip extension of extensive gold mineralisation
intersected in previous shallow RAB holes (see Figures 4 and 5). The
mineralisation remains open along strike to the east and at depth. 


Holes JBRRC024 and JBRRC025 were drilled at the Shangaza/Panapendesa prospect
(see Figures 2 and 6). JBRRC024 was drilled approximately 50m down dip of a
previous intersection of 19m at 3.6g/t gold reported at the bottom of a RAB hole
JLRB126 (see Figure 7) while JBRRC025 was drilled approximately 100m along
strike to the north-east. The mineralisation remains open along strike to the
east and at depth.


The RAB drilling was undertaken at the Masabi Hill prospect (see Figure 3) to
test for extensions of a large, 150x500m, east-west trending gold geochemical
anomaly which had been partially defined by previous soil sampling and RAB
drilling.


The gold mineralisation at Masabi Hill is hosted by a strongly altered granitic
intrusion and the recent RAB drilling program was also designed to intersect the
previously untested contact with the adjacent greenstone lithologies. 


Results from the RAB drilling confirm that strong gold anomalism (greater than
0.1g/t) extend eastwards beneath shallow transported cover for at least another
350m from the previously defined mineralised zone. The latest results are of
similar magnitude as that recorded by previous RAB drilling up dip of the
intersections in JBRRC018 and JBRRC019 referred to above (see Figures 4 and 5).


Significantly the results in JLRB483, JLRB0498 and JLRB499 (see Figure 3)
confirm the potential of granite contact zone to host economic gold
mineralisation. The granite contact, which geophysics indicates is at least 3km
long on the JV area, is completely covered by shallow transported soil and has
only been intersected by the single RAB traverse drilled by Liontown. 


Commenting on the results, Liontown's Managing Director, Mr David Richards, said
"These are very exciting results for a maiden drilling program and highlight the
potential for a major gold system, particularly at Masabi Hill. More RAB
drilling is needed to define the extent of the gold anomalism at Masabi Hill as
well as diamond core drilling to get a better handle on what is controlling
mineralisation. We will then need an RC rig to work out the real size of the
system. This work will start as soon as all assay results are received
(including 1m splits of composite samples) and suitable drill rigs can be
secured." 


Liontown entered into the Jubilee Reef JV Project with Canadian company Currie
Rose Resources Ltd (TSX VENTURE:CUI) at the beginning of 2011. Liontown has the
right to earn up to 75% equity in the Project which is located in the Lake
Victoria Goldfield (see Figure 1), an Archaean greenstone-granite terrain
similar to the Eastern Goldfields of W.A.


Several multi-million ounce gold deposits are currently being mined in the
region including Bulyanhulu and Geita. 


Highlights 

Best RC Intersections from maiden drilling program 

- JBRRC018 28m @ 3.02g/t gold from 40m, including 8m @ 7.45g/t gold from 56m 

- JBRRC019 40m @ 1.19g/t gold from 8m 

- JBRRC024 28m @ 2.8g/t gold from 72m, including 8m @ 5.1g/t gold from 72m 

- JBRRC025 12m @ 2.3g/t gold from 40m 

RAB Intersections 

- JLRB488 22m @ 1.3g/t gold from 8 - 30m (EOH), including 12m @ 2.21/t gold from 8m 

- JLRB498 29m @ 0.75g/t gold from 8 - 37m (EOH) 

- JLRB499 33m @ 0.62g/t gold from 4 - 37m (EOH), including 8m @ 1.74g/t gold
from 8m 


- JLRB523 15m @ 0.75/t gold from 24 - 39m (EOH), including 8m @ 1.1g/t gold from
28m 


- JLRB528 16m @ 0.70g/t gold from 16 - 32m (EOH), including 4m @ 1.2g/t gold
from 28m (EOH) 


(NB: all assays reported are 4metre composite samples) 

All Figures above can be reviewed on the Liontown website: www.ltresources.com.au

"David Richards"

DAVID RICHARDS Managing Director 

10 October 2011 

The information in this report that relates to Exploration Results is based on
information compiled by Mr David Richards, a full time employee of Liontown
Resources Limited, who is a Member of the Australian Institute of Geoscientists.
Mr Richards has sufficient experience in the field of activity being reported to
qualify as a Competent Person as defined in the 2004 edition of the Australasian
Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves,
and consents to the release of information in the form and context in which it
appears here."


BY ORDER OF THE BOARD OF DIRECTORS OF CURRIE ROSE RESOURCES INC.

Harold Smith, President

The technical information in this News Release has been reviewed and approved by
Michael Griffiths FAusIMM, a qualified person as defined by National Instrument
No. 43-101, and a Director of Currie Rose Resources Inc. and Director of Chalice
Gold Mines Limited (ASX) and Mozambi Coal Limited (ASX).


"This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the potential
mineralization and geological merits of the and properties and other future
plans, objectives or expectations of the Company are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company's
plans or expectations include risks relating to the actual results of current
exploration activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions, regulatory changes,
timeliness of government or regulatory approvals and other risks detailed herein
and from time to time in the filings made by the Company with securities
regulators. The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise required by
applicable securities legislation."

Currie Rose Resources (TSXV:CUI)
Historical Stock Chart
From Apr 2024 to May 2024

Currie Rose Resources (TSXV:CUI)
Historical Stock Chart
From May 2023 to May 2024