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Marquee Resources Limited (“Marquee” or “the Company”) (ASX:MQR) is excited to report that it has identified 3 new high-priority mineral targets at its Mt Clement Project. During reconnaissance field mapping, geologists have observed massive sulphides with portable-XRF (p-XRF) data showing highly anomalous base metal signatures with up to 10.2% Ni, 0.17% Co & 0.65% Cu identified in previously unmapped areas in the north of the Mt Clement Project. Additionally, the Company’s geologists have identified an extension to the Mt Clement Au-Sb deposit (ASX: BC8) with preliminary p-XRF data showing strong Au-Sb anomalism along strike from the Dugite Lode.
HIGHLIGHTS
- Field mapping identifies previously unrecognised polymetallic mineral systems as well as the extension to the Mt Clement Au-Sb deposit.
- Massive sulphides mapped at surface with preliminary portable-XRF analysis returning highly anomalous metal values up to 10.2% Nickel, 0.17% Cobalt, 699 g/t Gold, 1.6% Antimony, 0.65% Copper & 13.6% Lead.
- Anomalous p-XRF results from rock chip samples including:
- 699 g/t Au (23WY0021) & 514 g/t Au (23WY0028) & 381 g/t Au (23WY0025)
- 10.2% Ni (23WY0092)
- 0.65% Cu (23WY0092)
- 1.6% Sb (23WY0025A) & 1.2% Sb (23WY0024)
- 13.6% Pb (23WY0024)
- 3 new, high-priority targets identified in addition to the extension to the Mt Clement Au-Sb deposit.
- Contractor engaged to complete aerial magnetic survey in October.
- Laboratory assays for rock chip samples expected in ~4-6 weeks.
Reconnaissance field work follows the Company solidifying its land position (refer MQR ASX Release 17 July 2023) with 398km2 of tenure in a highly prospective but poorly understood and underexplored region. The Mt Clement Project represents a genuine greenfields opportunity in one of Australia’s most underexplored regions.
Executive Chairman Comment:
Marquee Executive Chairman, Mr Charles Thomas, commented:
“Although early days, it’s obviously very exciting to identify massive sulphides and base metal mineralisation on virgin ground that has never been mapped or sampled before. The early results have certainly opened our eyes to the huge potential of the Mt Clement Project and we are going to expedite our exploration endeavors over the coming months, beginning with the acquisition of high-resolution magnetics and further sampling at Mt Edith North. The Ashburton Basin is one of the most underexplored regions in WA so we’re excited by the discovery potential across our significant land holding in the area.”
Figure 1: Mt Clement Targets Map
Exploration update
Recently, geologists completed a reconnaissance trip to the Mt Clement Project to determine access for future exploration endeavours, look for extensions to the Mt Clement deposit and visit target areas identified from desktop studies. Geologists collected 92 rock chip samples from outcrop which were logged and analysed with the p-XRF prior to submission to ALS Laboratories for full suite multi-element analysis. Visual observations and p-XRF data were combined to provide an early indicator on the style of potential mineralisation. P-XRF data indicates potential polymetallic mineralisation at the previously unrecognised areas at Mt Edith and Yandi Well targets and highlighting potential for exploration success over the broader Mt Clement Project area.
Mineralisation at the Mt Clement deposit (ASX: BC8) consists of economic quantities of gold (Au), copper (Cu), antimony (Sb), silver (Ag) and lead (Pb). High arsenic (As) content is also a key indicator of Mt Clement style mineralisation with arsenopyrite a key ore mineral. The Company has identified what it interprets to be the along- strike extension of the Mt Clement deposit with preliminary p-XRF results showing similar geochemical signatures. The metal associations observed in the p-XRF data from the Mt Edith and Yandi well targets differ with appreciable amounts of nickel (Ni), cobalt (Co) and copper (Cu) present, and a relative lack of antimony and arsenic. The preliminary results suggest similar, but different, polymetallic mineral systems across the property, however due to the early-stage nature of exploration, further work is required to fully understand the mineralogy and chemistry of the occurrences.
While rock chip assays are outstanding (~4-6 weeks), the early observations have given the Company the confidence to plan further work which will include a 4,390 line-km, high-resolution aerial magnetic survey (Figure 3) and further, detailed mapping and sampling with a focus on the Mt Edith and Yandi Well targets.
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This article includes content from Marquee Resources, 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.
MQR:AU
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.
