The Conversation (0)
Auric Mining Limited (ASX: AWJ) (Auric or the Company) provides the following update on recently completed drilling at the Company’s Chalice West Project near Widgiemooltha-Higginsville, Western Australia. Drilling was completed in February 2023 with 5 Reverse Circulation (RC) holes drilled for 600m (Figure 1).
Highlights
- Assay results received for 5 RC holes recently drilled at Chalice West to test beneath anomalous aircore drill holes.
- Nickel, Rare Earth Element (REE) and cobalt anomalism in RC drill holes supports the earlier aircore results and includes:
- 6m @ 0.35% Ni in ACRC005, including 1m @ 0.44% Ni, 788ppm Co and 7,366ppm Total Rare Earth Oxides (TREO).
- 36m @ 1,253ppm TREO from surface in ACR005 with 20.0% of the TREO as the more valuable Magnetic Rare Earth Oxides (MREO).
- Nickeliferous ultramafic rocks recognised as a possible source for clay-hosted REE in the project area.
- Auric in discussions with a respected geological consultancy to participate with other explorers in a research partnership that will characterise clay- hosted REE deposits in WA.
The RC drill holes targeted gold anomalism and separate nickel and Rare Earth Element (REE) anomalism defined by recent Auric air core drilling along the 6,471,150 northing (Figure 1).
The RC drill holes returned several weakly anomalous gold results in fresh rock but clearly less than in the overlying weathered rocks (regolith) defined by the aircore drilling. A source or sources for the gold anomalism defined in the aircore drilling along the 6,471,150 northing and along other traverses drilled by both Auric1 and 25 years earlier by Resolute Limited has not yet been identified.
Figure 1. Chalice West RC drill holes shown with anomalism defined in aircore drillholes and interpreted geology.
RC drill hole ACRC005 intersected 36m @ 1,253ppm Total Rare Earth Oxides (TREO) from surface correlating with an intersect of 17m @ 1,699ppm TREO in aircore hole AAC02792.
ACRC005 also intersected Ni anomalism including 6m @ 0.35% Ni from 31m depth in ultramafic rocks down-dip from the aircore anomalism. Of particular note in that interval is a 1m intercept from 34m including 0.44% Ni, 788ppm Co and 7,366ppm TREO. The Ni value is the highest returned for ACRC005 and the Co and TREO concentrations are considerably higher than all other Co and TREO values in the RC samples. The Co may be indicative of a proximal Ni-Co sulphide source whilst the coincident Ni and TREO peak values suggests that the nickeliferous ultramafics are an important source rock for the clay-hosted REE.
Auric has joined a group of other explorers in discussions with a respected geological consultancy that will lead to research into clay-hosted REE deposits in WA. Amongst the potentially useful outcomes of that research may be better exploration and analytical tools and better quantification of REE deposits.
Program and Results
The program was undertaken in concert with drilling at the Company’s Miitel South Prospect and provided follow-up to a recently completed air core drilling program at Chalice West.
The better results from the Chalice West aircore program included gold anomalism to 168ppb in AAC0263 and several neighbouring holes and nickel anomalism to 0.67% in AAC0279. The latter is associated with strong REE anomalism in the weathered clay horizon and the follow-up holes were selectively assayed for a suite of elements that included Au, Ni and REE.
All of this anomalism occurs on the 6,471,150N drill traverse. This traverse is separated from the nearest aircore traverses by 800m to the north and 1,400m to the south. These are substantial distances in the context of the nearby Chalice gold deposit which had dimensions of only 45m x 170m in plan view.
RC holes were angled at 60˚ and drilled to 120m depth to cross prospective stratigraphy; basalts associated with gold anomalism and ultramafics associated with the nickel anomalism, together with the weathered clay horizon that hosts anomalous REE concentrations. Samples were taken at 1m intervals downhole.
Holes were scissored across the basalt units to account for any crosscutting structures that might host gold mineralisation. Hole details are shown in Appendix A.
The RC holes targeting gold anomalism in AAC0263 and neighbouring aircore holes are represented in Figure 2.
This article includes content from Auric Mining, 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.
AWJ:AU
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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