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Wednesday, January 18, 2006

Zinc and lead boost Bass gold project

Zinc and lead boost Bass gold project

BASS Metals, the re-badged Resource Finance and Investments, says the discovery of economic grades of zinc and lead mineralisation at its Mt Charter gold project in Tasmania has enhanced the value of the project.

Drilling intersected two zones of near surface gold-silver-zinc mineralisation returning hits of 15.4m at 2.1 grams per tonne of gold, 38gpt silver, 4.8% zinc and 1.9% lead and 8m at 2.1gpt gold, 27gpt silver, 21.% zinc and 1% lead.

The company said the projects close proximity to the 1.5 million tonne per annum Hellyer plant could potentially enable value to be derived from both the precious and basemetals.

Elsewhere, the company said drilling would re-start shortly at its Que River basemetals project targeting extensions to the 370,000t at 1.7% copper, 64gpt silver, 0.3gpt gold and 4.2% zinc resource.

Shares in Bass Metal hit a high of 24c when it listed in October before slipping to a low of 15c last month. The stock remained unchanged during morning trade at 20c.


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