01 July 2020
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· Application to conduct a diamond drill program lodged with NSW Resources Regulator
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The drill program is to test the Company’s exciting shallow gold targets at the Turon Project in the Lachlan Fold Belt, which include:
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RAB drill holes results up to 10m @ 1.64g/t gold from the surface to end of hole which have never been followed up at the Quartz Ridge Mine
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Multiple high-grade rock chips up to 1,535g/t gold at the Dead Horse Reef Mine
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Recently generated DGPR anomalies at former gold producing Britannia Mine
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Drill program scheduled to commence this month (July 2020) , subject to NSW Resources Regulator approval
The Turon Project lies within the Lachlan Fold Belt’s Hill End Trough, a north-trending elongated pull-apart basin containing sedimentary and volcanic rocks of Silurian and Devonian age.
The proposed drill program seeks approval for up to 1,770m of diamond drilling at several exciting shallow gold targets situated within the Box Ridge and Quartz Ridge line of workings which strike over 2.4km and 1.6km respectively. These targets were detailed in the Company’s previous ASX announcements dated 23 June 2020 and 26 June 2020 and include:
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The northern extension of the Quartz Ridge Mine where a shallow RAB drill program completed nearly 30 years ago identified several highly anomalous gold intercepts with results up to 10m @ 1.64g/t gold from the surface to end of hole. All holes were sampled throughout their developed length as a single composite sample of 10m and the anomalous results were never followed up. A peak value of 11.3g/t gold was returned from a chip sample north of the Quartz Ridge Mine, near the currently described RAB drilling, deeming the strike length to be at least 1.4km.
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The Dead Horse Reef Mine where past explorers report numerous significant gold grades from chip and mullock sampling, including 1,535g/t, 135g/t, 26g/t, 14.6g/t and 12.55g/t. The outstanding chip result of 1,535g/t gold lies south of Dead Horse Reef and remains untested by drilling.
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The Britannia Mine where DGPR interpretation identified two critical anomalies thought to coincide with structurally-controlled quartz veining. Their relative depth distinguishes the anomalies with a shallower anomaly that directly corresponds with the historic Britannia Mine workings, and a deeper anomaly offset from the known mineralisation which remains untested.
Figure 1. Quartz Ridge line of workings and its relation to the Box Ridge line of workings
Drilling is currently subject to approval from the NSW Resources Regulator.
For full ASX announcement, click below:
https://www.asx.com.au/asxpdf/20200701/pdf/44k46tf4190shd.pdf
