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May 2012 - Convergent Min

Convergent Minerals Limited (CVG) – Targeting an Upgraded Resource from its Blue Vein Prospect by September Qtr. 2012

  • Convergent Minerals' (CVG's) main prospects are located ~120km south of Southern Cross in WA, in the Mt Holland region, north of Western Areas' Flying Fox mine (of WSA's Forrestania nickel operations). CVG is mostly concentrating on reviewing the satellite open-pits that supplemented the Bounty underground mine feed from 1995 through to the underground mine's closure in 2002.
  • The historic main satellite open-pits occur on 3 separate broadly N/S trending structures west of the Bounty structure, being Blue Vein, Twinings to Pigs on the Mt Holland structure, and Van Uden on the westernmost structure. The main exploration focus has so far been on Blue Vein and Twinings, but has started to extend to Van Uden, while the Pigs are expected to be remapped.
  • Although the old Bounty goldmine is a defunct minesite (having been closed in 2002), there remains significant infrastructure such as grid power to an operating substation that supplied the original plant, some parts of the plant such as tankage and nearby buildings as the gold room, footings and paths in the old camp, and a reasonably intact core yard. Access to the minesite is very good, being by sealed road to Marvel Loch and then a well-maintained high quality haul road towards WSA's Forrestania operations.
  • Drilling at Blue Vein has shown the most promise so far towards having an underground operation, with intersections such as 19m @ 5.6g/t (including 5m @ 16.1g/t), 4m @ 10.3g/t from 220m below surface and 4m @ 5.5g/t at 390m. In the current quarter (JQ 2012) CVG has started diamond drilling (off RC pre-collars) with encouraging looking sulphide in core. A revised maiden resource at Blue Vein was expected to be reported in SQ 2012.
  • On the Twinings prospects, exploration has focused on the southern part of the group, being below the old Earl Grey pit with an intersection of 3m @ 12.6g/t, and the Irish Breakfast exploration target immediately north of Earl Grey. The rocks in the Twinings pits appear to be materially softer but possibly more competent than they were at Bounty.
  • Most of the pits show very clear structures in their walls and hence the perception that the Pigs prospects need to be remapped especially Bushpig as mining it appeared to uncover mineralisation on its SE corner that was not expected. There are a number of potentially similar situations of additional mineralisation in some of the other pits too.
  • Written by: Keith Goode
  • Wednesday, 16 May 2012

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