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Transol Corporation Limited announces new copper-gold soil discoveries at Johnnies Reward

Thursday, Jan 24, 2013

Transol Corporation Limited (“Transol” or “the Company”) (ASX Code: TNC) is pleased to announce that it has discovered a large anomalous zone of gold-copper mineralisation immediately north of the main Johnnies Reward Prospect at its Johnnies Reward Gold Project, located 75km north-east of Alice Springs in the Northern Territory.

The gold-copper anomaly, which represents a priority target for follow-up exploration in 2013, was outlined by an extensive soil sampling program completed late last year.

Soil Program

During November 2012, a total of 394 2mm soil samples were collected north of the Johnnies Reward Prospect to extend the original Alcoa soil grid by 2km to the north.

The sampling program was designed to cover the area of higher magnetic response outlined by a regional magnetic survey. Samples were taken on a 50m by 100m grid over mostly in-situ soils and sub-cropping altered sediments and gneissic lithologies. Samples were analysed for Au, Ag, As, Bi and Cu.

The results highlight an anomalous northwest – southeast trending corridor of +50ppb Au and +25ppm Cu located 1.5km north of Johnnies Reward (Figure 1). The main anomaly, named the Black Angus Prospect, is 300m long and 180m wide and occurs on the eastern edge of the grid with a peak value of 84ppb Au (as compared to a background value of <10 ppb Au).

Black Angus is open to the south-east and is coincident with a south-east trending fault zone which may be an important transfer structure for migrating mineralised fluids between the Pinnacles line and the Johnnies Reward corridor.

Investigation of the historical database for the project has identified a rock chip of 0.29 g/t Au and 194ppm Cu on the southern edge of this anomaly (see Figure 1). Follow-up rock chip samples have been collected with results pending.

Source: Transol Corporation Limited

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