The Conversation (0)
Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to provide an exploration update on the Everleigh Target Area.
Highlights
- Quartz reef veining has been discovered that is returning high grade gold results in rock chip samples.
- Gold in specimen stone has been found very close to source.
- Gold nuggets discovered across the Everleigh target area.
- Fieldwork remains focused in the Everleigh and Guyer target areas, defining targets for follow up.
Technical Director Dave Nixon commented:
“The high-grade gold in quartz veining and the gold bearing specimen stone discovered at Everleigh are strong indicators for the presence of reef gold mineralisation”.
“The 200m long gold bearing quartz vein is in-situ and the specimen stone with visible gold is very close to source, indicating that these locations have an increased probability for the discovery of quartz reef gold mineralisation”.
“The gold in the Everleigh specimen EV-1 is now confirmed to have a lower gold fineness that is more characteristic of an epizonal style of gold mineralisation more akin to the deposits of the Golden Mile in Kalgoorlie”.
“The combined data for the gold nuggets, specimen stone, gold in drilling and rock chip geochemistry forms a compelling focus for Iceni within the Everleigh target area”.
“Geological fieldwork is continuing at the Everleigh and Guyer target areas to define drill targets for follow-up exploration work.”
Specimen Stone from Everleigh Well
Figure 1. Specimen stone with visible gold found in the Everleigh Well Target area.
Figure 2. Integrated gold data sets from rocks, drilling, nugget finds and historical workings showing the distribution of gold across the Everleigh target area.
Gold in specimen stone has been recovered from the Everleigh target area. This is a significant result because the specimen stone is coarse and angular indicating it has not been transported far from source. Searching in the general area of the finds has located outcropping rock that is similar to the host material within the specimen stone. Further sampling is planned in this area.
Specimen stone EV-1 was previously found near diamond drillholes FMDD0032 and FMDD0034. The specimen was analysed to identify any characteristics that can assist the search for mineralisation.
Analysis by Orexplore involved the x-ray imaging of EV-1 to identify the internal distribution of gold within the specimen. The analysis identified two types of gold. The first type has a fine disseminated texture throughout the quartz. The second type is confined to the outer surface and along penetrative fractures through the specimen.
Analysis by Portable Spectral Services involved surface scanning of the specimen to identify the composition of the gold. The first type of gold has a low gold-silver ratio that is consistent with the known early epizonal styles of mineralisation within the Yilgarn. The second type of gold has a high gold-silver ratio, which is consistent with expected supergene modification of existing gold.
Click here for the full ASX Release
This article includes content from Icenic Gold, 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.
EIS Grant for Minnie Springs Copper Porphyry Drilling
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
Click here for the full ASX Release
This article includes content from Augustus Minerals, 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.
Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
Click here for the full ASX Release
This article includes content from EMU NL, 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.
Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
Click here for the full ASX Release
This article includes content from Basin Energy, 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.