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| Name | Symbol | Market | Type |
|---|---|---|---|
| ProShares Short Basic Materials | AMEX:SBM | AMEX | Exchange Traded Fund |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 46.3774 | 0 | 00:00:00 |
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RNS Number:8476S
St. Barbara Mines Limited
04 December 2003
ASX SHAREHOLDERS REPORT
Paddys Flat Development
- Prohibition drill results to date
Down plunge drilling at Prohibition has recorded ore grade intersections outside
the current resource and in the shallower Red Spider lode system.
The Paddys Flat development plan, incorporating the Prohibition, Vivians and
Consols deposits, envisages a conventional 5 metre x 5.2 metre decline
development to exploit a combined resource of 635,000 tonnes at 8.0 g/t for
162,500 ounces. The majority of the early part of the decline and lateral
development is positioned in competent banded iron formation (BIF) units hosting
the Prohibition and Red Spider mineralisation.
Twenty-three of a thirty RC/core (9,700 metre) drill programme to further
investigate the Prohibition resource (308,000 tonnes at 6.3 g/t) on 20 metre
spaced sections have been completed. Assay results are available for sixteen
holes.
Four holes in the current resource (120 metres along strike by 100 metres
vertical below the 120 metre deep Prohibition pit) have confirmed the model with
a modest positive reconciliation, giving intersections including 13.2 metres at
9.0 g/t, 8.7 metres at 7.1 g/t, 14.7 metres at 4.6 g/t and 13.5 metres at 6.1
g/t.
Other available assay results include intersections to 140 metres down plunge
from the Prohibition resource (17 metres at 4.5 g/t, 7 metres at 5.6 g/t, 6
metres at 6.7 g/t and 5 metres at 11.0 g/t), and in the parallel but shallower
Red Spider BIF (6 metres at 35.9 g/t, 6 metres at 17.5 g/t and 9 metres at 5/3
g/t) indicating an attractive target outside the current resource.
The two rigs on site are anticipated to complete the drill programme this month.
The deepest holes currently targeted are 300 metres down plunge. There is,
however, geological evidence to suggest both Prohibition and Red Spider may
continue to greater depth.
The geological model is being progressively refined with detailed structural
mapping. On completion of the drill programme the resource block model will be
revised and submitted for external expert review.
Notwithstanding that the drill programme is ongoing and requires detailed
evaluation, a potential increase in the Prohibition/Red Spider resource is
forecast.
Stephen W. Miller
Executive Chairman
4 December 2003
Prohibition Drill Intercepts - October to December 2003
_________________________________________________________________________________________________________________
Hole No. Drill Section East Dec Azm Depth Mineralised Intercept
(North) (Grid) (m)
From To Width Au Lode System
(m) (m) (m) (g/t)
_________________________________________________________________________________________________________________
Inside Current Resource Block (beneath the open pit)
PHRC 74 2840 3617 -52 90 250 116 119 3 4.47 Prohibition
135 139 4 3.82 Prohibition
145 147 2 5.6 Prohibition
PHRC 3 (D) 2780 3614 -54 96 320 136.3 151 14.7 4.56 Prohibition*
160.94 161.95 1.01 6.18 Prohibition*
164.74 166.93 2.19 5.43 Prohibition*
PHRC 2 (D) 2760 3612 -52 90 312 148.3 153 4.7 4.77 Prohibition*
165.4 178.9 13.5 6.11 Prohibition*
187.5 197.8 10.4 4.36 Prohibition
221 230 9 4.55 Prohibition
276.4 279 2.6 5.34 Prohibition
PHRC 61 2740 3613 -55 90 246 182 186 4 4.87 Prohibition*
193 199 6 7.53 Prohibition*
239 245 6 8.05 Prohibition*
PHRC 1 (D) 2720 3609 -49 90 262 28 36 12 2.33 Red Spider
80 88 8 3.34 Prohibition
171.26 182.5 11.24 8.98 Prohibition
193.9 202.6 8.7 7.09 Prohibition
211.4 215.6 4.2 6.17 Prohibition
_________________________________________________________________________________________________________________
Outside (south of, down plunge from) current resource block
PHRC 73 2720 3607 -55 90 254 28 40 12 1.45 Red Spider
219 225 6 5.07 Prohibition
PHRC 72 2700 3614 -57 90 339 32 36 4 3.46 Red Spider
194 211 17 4.52 Prohibition
230 237 7 5.59 Prohibition
256 261 5 4.91 Prohibition
266 272 6 6.44 Prohibition
317 320 3 4.77 Prohibition
PHRC 80 2700 3608 -50 90 310 Awaiting assays
PHRC 71 2680 3610 -50 90 274 44 49 5 4.04 Red Spider
212 216 4 20.1 Prohibition
238 247 9 3.94 Prohibition
PHRC 70 2680 3610 -61 90 316 Awaiting assays
PHRC 78 2685 3611 -50 90 360 Awaiting assays
PHRC 69 2660 3620 -58 90 340 56 60 4 2.55 Red Spider
120 124 4 4.77 Prohibition
247 250 3 4.68 Prohibition
264 267 3 4.93 Prohibition
271 272 1 27.1 Prohibition
PHRC 79 2660 3621 -50 90 340 Being drilled
DD 1 2660 3604 -50 258 86 To be logged before assaying
PHRC 68 2640 3622 -55 90 342 5 11 6 17.5 Red Spider
41 43 2 5.48 Red Spider
79 82 3 9.38 Red Spider
129 132 3 4.42 Prohibition
196 197 1 6.00 Prohibition
215 218 3 3.53 Prohibition
322 324 2 6.22 Prohibition
PHRC 67 2640 3617 -63 90 350 11 18 7 3.7 Red Spider
48 52 4 2.56 Red Spider
149 151 2 4.05 Prohibition
238 245 7 13.2 Prohibition
DD 2 2620 3624 -50 80 50 To be logged before assaying
PHRC 77 2620 3615 -56 90 303 20 24 4 2.75 Red Spider
88 92 4 4.2 Red Spider
209 215 6 2.61 Prohibition
PHRC 66 2620 3621 -62 90 354 21 24 3 3.5 Red Spider
95 100 5 3.11 Red Spider
159 163 4 5.85 Prohibition
249 252 3 6.18 Prohibition
312 323 11 4.19 Prohibition
PHRC 65 2600 3631 -58 90 360 90 96 6 35.9 Red Spider
143 145 2 5.00 Prohibition
192 194 2 5.22 Prohibition
240 246 6 6.66 Prohibition
302 305 3 5.54 Prohibition
PHRC 64 2600 3622 -63 90 344 27 36 9 5.3 Red Spider
71 74 3 5.85 Red Spider
172 174 2 3.65 Prohibition
PHRC 81 2580 3740 -90 390 290 295 5 4.5 Prohibition
PHRC 82 2580 3629 -64 90 395 16 18 2 3.1 Red Spider
55 57 2 2.85 Red Spider
97 102 5 3.2 Red Spider
158 292 Assays awaited
372 377 5 10.96 Prohibition
PHRC 76 2540 3630 -55 90 400 To be drilled
PHRC 63 2540 3630 -63 90 400 53 57 4 3.59 Red Spider
157 161 4 6.92 Prohibition
180 182 2 12.5 Prohibition
PHRC 75 2500 3628 -65 90 420 Being drilled
PHRC 62 2500 3628 -69 90 420 To be drilled
PHRC 75 2500 3628 -65 90 420 Being drilled
PHRC 83-85 To be finalised
_________________________________________________________________________________________________________________
Notes:
1 Some of the intercepts are based on sampling of wet RC drill returns
2 True widths appear to be about 80% of intercept lengths
3 * Indicates previously reported intercept
4 (D) Indicates core tail to RC drillhole
5 DD Indicates totally cored hole
Information in this report relating to mineral resources conforms to the
reporting requirements of the Australasian Code for Reporting of Identified
Mineral Resources and Ore Reserves (The JORC Code). It is based on information
compiled by Mr Graham Miller, FAusIMM, a Competent Person as defined by the
Code. It is included in this report with his consent.
Enquiries regarding this report may be directed to:
Stephen W. Miller
Executive Chairman
Telephone (08) 9476 5555
Overseas +61 8 9476 5555
or
Colin G. Jackson
Investor Relations
Telephone 0417 929 107
St Barbara Mines Limited
Level 2, 16 Ord Street
West Perth
Western Australia 6005
Telephone (08) 9476 5555
Overseas +61 8 9476 5555
Dollar values in this report are Australian dollars unless otherwise stated.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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