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Critical Resources Limited (ASX:CRR) (“Critical Resources” or the “Company”) is pleased to advise that it has received assay results from its 12th drill hole at its 100% owned Gibsons prospect. Diamond drill hole CRR21DD_14 (“Hole 14”) has intersected zinc, lead, copper, and silver bearing zones of sulphide mineralisation within a previously untested, north-eastern area at Gibsons. The mineralisation seen in this area continues to expand the potential of the Halls Peak system.
Highlights
Hole 14
- 26.7m @ 3.43% Zn, 1.93% Pb, 10.79g/t Ag, from 75.3-102m downhole
- Including 7.2m @ 9.02% Zn, 5.25% Pb, 23.56g/t Ag, from 75.3 – 82.5m downhole
- 5.5m @ 6.74% Zn, 6.06% Pb, 135.78/t Ag from 141.4-146.9m downhole
- Including 2.33m @ 9.22% Zn, 9.86% Pb, 168.56/t Ag from 141.4 – 143.73m downhole
- 2.95m @ 15.28% Zn, 9.22% Pb, 2.01% Cu, 300.91g/t Ag, from 172.86-175.81m downhole
- Including 1.22m @ 25.40% Zn, 15.50% Pb, 3.46% Cu, 394.00g/t Ag, from 173.84 – 175.06m downhole
- 4m @ 3.14% Zn, 2.00% Pb, 610.50/t Ag, 2.36g/t Au from 261.5-265.5m downhole
- Highly anomalous gold from 248-267.5m downhole including a significant gold grade of 4.42g/t Au over 2m from 261.50-263.50m downhole
- Hole 14 represents a previously undrilled area, north-east of all drilling to date
- Strong mineralisation at depth continues to expand the potential of the Halls Peak System
- Cores from completed holes 15, 16 and 17 are currently being assayed at the ALS laboratory in Brisbane with results expected progressively
Gibsons’ Mineralisation Extended
The Company is pleased to receive assays from Hole 14 at its 100% owned Halls Peak project in New South Wales. Unlike previous drilling, Hole 14 was drilled in a northerly direction, uncovering further mineralisation that has delivered significant results. This northern area is currently being drilled to further extend and understand the potential of this new area. The scale potential of the Halls Peak system continues to be uncovered, with results providing strong support for the expanded drill campaign.
Critical Resources Managing Director Alex Biggs said:
“Hole 14 represents the detection of a new area of mineralisation that has not previously been explored at our Gibsons prospect. We are consistently finding these new areas of mineralisation at depth and along strike that further adds to the potential scale of the Halls Peak system. The highly successful drill program at Gibsons, combined with previous exploration and geophysical survey work warrants the expansion of our current 5,000m drilling program. We are excited to soon commence drilling at our Sunnyside prospect that was home to old time small-scale, high-grade mine workings. The Sunnyside prospect is 1.5km north-west of Gibsons. This will further add to the scale potential of Halls Peak system as a whole”.
Summary of Key Polymetallic Intersections
Hole 14
- 26.7m @ 3.43% Zn, 1.93% Pb, 0.13% Cu, 10.79g/t Ag, 0.03g/t Au, from 75.3-102m downhole
- Including 7.2m @ 9.02% Zn, 5.25% Pb, 0.26% Cu, 23.56g/t Ag, 0.06g/t Au from 75.3 – 82.5m downhole
- 5.5m @ 6.74% Zn, 6.06% Pb, 0.17% Cu, 135.78/t Ag, 0.10g/t Au from 141.4-146.9m downhole
- Including 2.33m @ 9.22% Zn, 9.86% Pb, 0.25% Cu, 168.56/t Ag, 0.06g/t Au from 141.4 – 143.73m downhole
- 2.95m @ 15.28% Zn, 9.22% Pb, 2.01% Cu, 300.91g/t Ag, 0.58g/t Au from 172.86-175.81m downhole
- Including 1.22m @ 25.40% Zn, 15.50% Pb, 3.46% Cu, 394.00g/t Ag, 0.44g/t Au from 173.84 – 175.06m downhole
- 4m @ 3.14% Zn, 2.00% Pb, 0.16% Cu, 610.50/t Ag, 2.36g/t Au from 261.5-265.5m downhole
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This article includes content from Critical Resources (ASX:CRR), 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.
CRR:AU
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.
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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
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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.
