ActivEX releases maiden resource

MiningNews.net

ACTIVEX has released a maiden inferred mineral resource for the Florence Bore north and south deposits within its Cloncurry copper and gold project in Queensland.

Florence Bore north contains an inferred 1.1 million tonnes of ore at 0.81% copper and 0.15 grams per tonne gold, for 9025 tonnes of copper and 5374 ounces of gold.

Inferred resources in the southern deposit came to 496,000t at 0.68% copper for 3373t and 0.14gpt gold for 2233oz.

The combined inferred resource for the two deposits consists of 1.61Mt at 0.77% copper and 0.15gpt gold, for 12,398 tonnes of contained copper and 7607oz gold, using a 0.5% copper cut-off.

The results are based on a program comprising 35 reverse circulation and three diamond drill holes for a total of 5408m and 2098 assay samples.

ActivEX said both deposits had further explorative potential through possible strike extensions and drilling of sub-audio magnetic conductor anomalies similar to those found within the current resource area.

The resource was purely inferred due to the nature of spacing between holes, the geological model, a lack of density data and the standard of grade continuity.

Both deposits are within the Florence Creek tenement at the project, 60km southwest of Cloncurry in north-west Queensland.Shares in ActivEX were untraded today at A1.5c.

Activex_Florence_graphic

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