St Barbara Limited ('St Barbara' or the 'Company') (ASX: SBM) is pleased to announce that final assays have now been received for the 20 hole diamond drill program for 3,853 m completed at Cochrane Hill, Nova Scotia between January and March 2024.
Managing Director and CEO Andrew Strelein said 'Screen fire assays for the three Cochrane Hill Deeps holes confirmed the down dip extensions to more than 100 metres below the previously known mineralisation depth. The overall tenor of these Deeps intercepts suggest however that there is only limited potential to extend the Mineral Resource at depth'. 'The Cochrane Hill East and West diamond drill programs were testing along strike along the Cochrane Hill shear zone before advancing an updated mine and infrastructure design. While surprise intercepts would have been most welcome, as expected, the areas along strike are now confirmed to be available for infrastructure design planning.' 'Cochrane Hill is St Barbara's northeastern project in Nova Scotia and remains an attractive development proposition with the deposit containing Mineral Resources of 690,000 ounces and Ore Reserves of 510,000 ounces.'
The Cochrane Hill Deeps exploration program comprised three holes for 1,422 m. The program tested the potential down dip extension to the known mineralisation over a 130 m strike length between 80 m and 175 m below previous drilling conducted in 2018 and 2019. The Cochrane Hill East and Cochrane Hill West drill programs were designed to test the prospective Cochrane Hill shear zone along strike to the east and west of the Cochrane Hill deposit to determinine whether any significant mineralisation occurred near surface or if the areas could be considered sterilsed for infrastructure design purposes. The Cochrane Hill East drill program comprised nine holes for 1,437 m and successfully tested a 1 km strike length of the shear zone. The Cochrane Hill West drill program comprised eight holes for 994 m and successfully tested a 600 m strike length of the shear zone.
The Cochrane Hill deposit is St Barbara's northeastern most Mineral Resource. The Cochrane Hill Project is comprised of nine tenements (EL51476, EL51477, EL10249, EL55625, EL09259, EL56059, EL56287, EL56285 and EL55571). The project encompasses a section of the northeast-trending Cochrane Hill anticline that locally forms an overturned, tight isoclinal fold, with both limbs dipping to the north, between 55 to 80 degrees. Lithologies in the area have been metamorphosed to amphibolite (staurolite) facies with development of biotite schists, after argillite protoliths, and porphyroblastic textures in fine-grained greywacke and argillite. Mineralisation at Cochrane Hill occurs within a strike-parallel sheeted quartz vein system on the southern overturned limb of the Cochrane Hill anticline. Gold is hosted both within quartz veins and disseminated through the intervening metasediments
Cochrane Hill Deeps All three Cochrane Hill Deeps exploration diamond drill holes (CH-24-358, 359 and 360) intersected gold mineralisation between 80 m and 175 m down dip below the limits of previous drilling conducted in 2018 and 2019 and outside the current pit optimisation. Hole CH-24-358 intersected mineralisation between a depth of 389 m and 428 m downhole (refer to ASX release on 27 February 2024 titled 'Significant Visible Gold Intersected'). The intercept is located at the expected down dip location around 115 m below the deepest previous drill hole on section. Mineralisation is characterised by an increase in shearing and the presence of abundant bedding parallel quartz veins, coarse-grained arsenopyrite porphyroblasts and pyrrhotite. Visible gold was observed at eight locations (389.5 m, 410.6 m, 410.8 m, 413.0 m, 413.45 m, 413.5 m, 413.6 m and 427.7 m depth) within the mineralised interval and is hosted within quartz veins. The mineralised zone contains up to 35% quartz veining and 5% arsenopyrite per metre. Hole CH-24-359 intersected a primary zone of mineralisation between a depth of 379 m and 405 m downhole. The intercept is located at the expected down dip location around 80 m below the deepest previous drill hole on section. Visible gold was observed at two locations at 385.15 m and 399.53 m within the primary zone of mineralisation and is hosted within quartz veins. The primary mineralised zone contains between 0% and 33% quartz veining per metre and between trace and 1% arsenopyrite. Visible gold was also observed at 359.25 m in the hanging wall and 418.72 m, 427.52 m, and 444.80 m in the footwall, associated with less well developed veining and arsenopyrite. The mineralised zone contains between 0% and 33% quartz veining per metre and between trace and 1% arsenopyrite. In hole CH-24-360, quartz veining with associated arsenopyrite was encountered at the targeted depth between 378 m and 419 m down hole and between 434 m and 439 m downhole. The intercept is located at the expected down dip location around 175 m below the deepest previous drill hole on section. Visible gold was observed at five locations (400.13 m, 407.48 m, 407.54 m, 409.36 m, and 411.79 m depth) within the primary mineralised zone hosted within quartz veins. Visible gold was also observed at three locations (434.51, 434.62 m and 444.85 m) in the footwall associated with bedding parallel pyrrhotite rich quartz veins. The mineralised zone contains between 0% and 33% quartz veining per metre and between trace and 3% arsenopyrite
Cochrane Hill East and West
The Cochrane Hill East exploration diamond drill program comprising nine holes for 1,437 m successfully tested a 1 km strike length of the shear zone located in the overturned southern limb of the anticline. Despite intersecting good visual arsenopyite and quartz veining in sheared argillite, no significant gold intercepts were received. As a result the area tested has been sterilised for near surface gold mineralisation. Page 3 of 13 The Cochrane Hill West exploration diamond drill program comprising eight holes for 994 m successfully tested a 600 m strike length of the shear zone. All holes intersected a subtle zone of mineralisation characterised by the presence of arsenopyrite and quartz veining. Visible gold was observed associated with quartz veins at downhole depths of 120.5 m in hole CHW-24-007 and 154.5 m in hole CHW-24-008
Contact:
Tel: +61 3 8660 1959
Competent Persons Statement
The information in this report that relates to Exploration Results is based on information compiled by Dr Roger Mustard, who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Mustard is a full-time employee of St Barbara and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Mustard consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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