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Gold 50 Ltd (G50 or the Company) (ASX: G50) is pleased to announce the outstanding outcomes of the Company’s initial soil sampling program at the recently acquired White Caps Project (“WCP”) in Nye County, Nevada. (See ASX announcement, ‘Acquisition of High-Grade White Caps Gold Project’ dated 9 November 2022).
- Gold 50’s initial soil sampling program has defined a 2 km zone of key pathfinder elements for Carlin-type gold deposits at the White Caps Project
- Gold, arsenic, mercury antimony, and thallium are all strongly anomalous
- One-third of the 276 soil samples returned > 0.1g/t gold ( > 100 ppb)
- Gold averaged 0.527 g/t and mercury (Hg) averaged 4.44 ppm across these 92 samples. Greater than 1 ppm Hg in soils is considered highly anomalous
- This program represents the first step in applying modern exploration techniques at the property in more than two decades
- High-grade White Caps Mine produced more than 125,000 ounces at circa 30g/t gold
- Multiple untested near-mine and district targets remain to be drilled
- Trenching of the 2 km zone to begin in early March, 2023
The soil sampling program defined a strongly anomalous zone over 2km along strike from the high-grade White Caps Mine on patented claims (private land). Arsenic, mercury, antimony and thallium - the key pathfinder elements for Carlin-style gold deposits were all very anomalous.
Gold 50’s Managing Director, Mark Wallace, commented:
“Our initial White Caps exploration program has exceeded our expectations by confirming that the project is highly prospective for Carlin-style gold mineralisation.
“We already knew that the White Caps Project area had the right rocks and structures for Carlin- style gold deposits. Historical work had never confirmed the presence of the Carlin-style path finders and the consistency and scale of these results outperform even our most optimistic expectations.
“Our plan is to define drill targets by trenching across the prospective zones, completing a drone magnetic survey, and undertaking field mapping. Working on our Patented claims means workflows can be completed quickly.
“G50 has the team in place to continue working up White Caps and we look forward to updating the market soon on assays from our initial two diamond drill holes at our flagship Golconda Project in Arizona. RC drilling is to commence by the end of the month.”
Figure 1 - Plan summarising outcomes from White Caps Soil Sampling
The soil sampling program comprised 276 samples collected on Gold 50’s patented claims. The program targeted structural intersections within the west-northwest striking Cambrian White Caps Limestone unit and cross-cutting north-south faults.
Of the 276 samples, 92 (33%) of the samples assayed greater than 0.1ppm or 0.1g/t gold, which is considered to be highly anomalous. The average gold content across these 92 samples was 0.527 ppm (= 0.527g/t). The ten best samples ranged from 0.9g/t to 7.5g/t gold.
Carlin-style pathfinder elements including arsenic, mercury, antimony, and thallium were all present and highly anomalous. The numerical averages of the assays for all 276 samples and the subset of the 92 highly anomalous samples are presented in Table 1 below:
Table 1 - Averages of White Caps Soil Sample Results
The results for mercury are particularly encouraging as any assay with > 1ppm mercury is considered a strong result. The average mercury response across the 276 samples of 1.59 ppm is highly anomalous.
Figure 1 above shows the location of the 276 soil samples and extensive zones with > 50ppb gold over approximately 2km of strike.
The seven target zones identified for follow-up are focussed on the most anomalous assays for the pathfinder elements noted in Table 1. Target Zone 3 also has elevated sulphur, copper, zinc, and bismuth.
The White Caps Gold Mine is located between Target Zones 5, 6, and 7, which was not sampled due to significant surface disturbance. The soil sampling program took great care in avoiding disturbed areas and 33 planned samples were not collected due to surface disturbance and potential contamination, primarily caused by historical mining.
Photos showing the sample pit, sample number and representative sample material were taken at each sample site utilizing a theodolite-type app that captured the day, time and coordinates for each location.
Mineralisation at the White Caps Mine is concentrated along structural intersections within the Cambrian White Caps Limestone unit which averages 20m in thickness. Numerous cross-cutting north-south faults localise mineralisation within the host carbonates. The soil sampling program and highly anomalous soil results extend well outside of the White Caps Limestone, increasing our understanding and targeting of the district potential of the White Caps Project.
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This article includes content from Gold 50 Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High grade Assay Results Continue at Youanmi
- The latest batch of assays have been received from the 11,000m drilling program (both diamond core and reverse circulation) at the high gold-grade Youanmi Gold Project, located centrally in Western Australia’s prolific gold fields
- The recently-completed infill/exploration program aimed to improve resource confidence and open up corridors for resource growth; to underpin the Definitive Feasibility Study (DFS), and, additionally, provide sample material for ongoing metallurgical optimisation test-work for the DFS program
- Latest highlights from the program include:
- RXDD131: 4.38m @ 19.07 g/t Au from 387.98m,
- incl. 1.73m @ 41.43 g/t Au from 389.96m
- RXDD119: 4.56m @ 14.60 g/t Au from 220.64m
- RXDD115: 2.99m @ 21.11 g/t Au from 249.88m
- RXDD119: 4.0m @ 7.37 g/t Au from 162.0m
- RXDD132: 7.19m @ 3.90 g/t Au from 263.61m
- RXDD133: 2.83m @ 6.53 g/t Au from 431.00m
- RXDD128: 3.82m @ 4.51 g/t Au from 364.59m,
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- RXDD122: 0.95m @ 13.50 g/t Au from 204.44m
- §These results further demonstrate the continuity of high- grade gold mineralisation along the Youanmi greenstone belt belt, and the potential for resource growth both at depth and along-strike, with discovery potential to the south
- 35,000m Step-up drill campaign well underway with the plan to bring forward ounces and increase the mine plan
The program focused on converting Inferred stopes at Pollard, United North and Youanmi Main to higher confidence Indicated classification and providing material for metallurgical testing for the upcoming Definitive Feasibility Study (DFS) – on track for H2 CY25.
This final consignment of diamond assay results are the fourth batch of assays results returned from the drill program and have been entirely drilled from the Pollard, Youanmi and United North areas (Figure 1).
Rox Resources’ Chief Executive Officer, Phillip Wilding, commented:
“It’s pleasing to round out the 11,000m RD and DD drilling program with another batch of excellent intercepts.
“More importantly, the program has significantly improved our knowledge of the high grade and underexplored Youanmi ore system, and shown that mineralisation remains open at depth.
“Next steps are to convert Inferred areas of the Resource to the higher confidence Indicated classification, and finalise key intercepts of sample material for metallurgical test work to feed into the Youanmi DFS.
“We are excited to have commenced the 35,000m Step-up program to potentially bring forward ounces in the mine plan and significantly increase the size of the Pollard ore zone.”
Youanmi Major Growth Drill program
Resource drilling has focused on converting selected Inferred stopes in the current Mineral Resource of 16.2Mt at 4.4g/t Au for 2.3Moz (Indicated: 10.7Mt at 4.5g/t Au for 1.6 Moz : Inferred 5.5Mt at 4.2g/t Au for 0.7 Moz) 1 to higher confidence Indicated classification at Pollard, United North and Youanmi Main as shown in plan on Figure 1. The drilling has also provided both sample material for metallurgical testing and valuable geological data for the pending Definitive Feasibility Study (“DFS”) planned for second half of 2025.
Figure 1: Plan view of the Youanmi Gold Project featuring drill hole collar locations and 2024 Resource outline overprinted on aerial photography
Outside of the immediate resource area, drilling was also conducted on near-mine exploration and focused on the Youanmi South prospect area, or Paddy’s Lode, first reporting high-grade intercepts in 20232. The drilling at Paddy’s has complimented the Company’s exploration strategy moving south along the Main Lode Shear Zone (MLSZ) and adding additional gold ounces to the Resource. Youanmi South has the potential to grow the Resource above the 103kozpa Production Target outlined in the recently completed Pre-Feasibility Study (“PFS”)3.
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This article includes content from Rox Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
