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Siburan Resources is building a portfolio of quality early stage exploration projects in proven mineral districts targeting tungsten, gold, uranium and base metals. Siburan’s low market capitalisation provides considerable leverage to any exploration success.
Siburan Resources (ASX: SBU) is a junior exploration company that listed on the ASX in May 2010 and has built a portfolio of early stage projects in key mineral districts.
The company recently applied for highly prospective tenure incorporating the Kirwans tungsten project, located on the south Island of New Zealand. Historical trench sampling has identified broad zones of scheelite bearing quartz veins and further interpretation of soil sampling results suggests this mineralisation could extend 1,400m along strike with widths of up to 600m.
Siburan is also advancing the Mt Pleasant gold project located ~50km north of Kalgoorlie. Recent RAB drilling has identified anomalous gold in structural corridors, connecting already identified targets, which have the potential to host higher grade mineralisation at depth. Further RAB drill programs are planned to better define the structural controls of the anomalous gold mineralisation.
Recent geophysical work at the Lake Marmion uranium project has confirmed the presence of extensive palaeochannels which are prospective for uranium deposits. Historical sampling identified high grade, shallow mineralisation which will be followed up with further geophysical and aircore drilling.
Siburan also recently signed a JV with RH Resources to identify and acquire prospective exploration and mining licences in Papua New Guinea. RH Resources has significant financial backing and experience in the country and is a 12% shareholder of Siburan Resources
Siburans’ priority is the Kirwans tungsten project, located on the South Island of New Zealand. The tenements are still under licence application however it is anticipated a formal granting of the exploration licences will occur before the end of March 2012.
Previous early stage exploration...
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