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Auric Mining Limited (ASX: AWJ) (Auric or the Company) provides the following update on recently completed drilling at the Company’s Miitel South Prospect near Widgiemooltha-Norseman, Western Australia. Drilling was completed in February 2023 with 3 Reverse Circulation (RC) holes drilled for 410m (Figures 1 and 4).
Highlights
- Assay results have been received for 3 RC holes representing 410m of drilling recently completed in the Miitel South Prospect.
- Widespread sulphide mineralisation and quartz veining over a 500m trend around an intensely worked alluvial gold processing operation, more than justify completion of the 8 hole program via a track mounted rig.
- An intercept of 2m @ 2.84g/t Au from 39m was returned for AICR001as part of a zone of widespread quartz veining and disseminated pyrite.
The Miitel South drilling followed on from a program at the Company’s Chalice West Project1. Planning envisaged 8 RC holes at Miitel South to target the gold mineralised trend shown in Figure 1 from both the north and south. However, access proved difficult. Only 3 of the planned holes were completed, all from the north, for a total of 410m.
Holes were angled at -60˚ toward the southwest, into the side of a large hill that has been the focus for a substantial historic alluvial processing operation (Figure 2). There are numerous workings and trenches within the mineralised trend which is defined by a combination of historic workings, rock chip sampling and soil sampling. RC drill holes were sampled at 1m intervals and samples assayed for gold via a 50g fire assay.
Figure 1. Miitel South Prospect and RC drill holes
All holes were logged by a geologist during drilling who noted frequent quartz veining and trace to several percent pyrite in the basalts (AIRC001 and AIRC002) and rare quartz veining and trace to 1% pyrrhotite in ultramafic rocks (AIRC003).
The best intersection of 2m @ 2.84g/t Au from 39m was returned for AICR001 (Figure 3). This interval coincided with laminated quartz veining, up to 0.5% pyrite and some magnetite alteration. Drill hole details are recorded in Table 1 and significant assays in Table 2. A JORC checklist with regards sampling techniques and reporting criteria is shown in Appendix A.
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
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.
