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Sierra Nevada Gold (ASX: SNX) is pleased to announce plans to follow up drill hole BHD006 which returned up to 1270 g/t silver at Endowment Mine, part of its Blackhawk Epithermal project in Nevada, USA.
Highlights
- Sierra Nevada to review potential for a large, high-grade epithermal silver-dominated vein system.
- Previously drilled core hole BHD006 returned 5m at 479 g/t Ag within a larger mineralised zone of 12m at 219 g/t Ag from 250m beneath the Endowment mine at its Blackhawk Epithermal Project in Nevada, USA.1
- This high-grade intercept is situated 150m vertically below the deepest portion of the historic mine and includes higher grade intersections of:
- 0.5m at 1270g/t Ag from 256.5m
- 1m at 823g/t Ag from 257m
- 1m at 654g/t Ag from 258m
- These silver intercepts are associated with very high-grade lead-zinc-gold (see table 1), demonstrating the potential for extremely high value ore.
- Potential for a company-making silver discovery at Blackhawk, where SNX has identified 22.5-line kilometres of high-grade silver-gold-lead-zinc veins.1
- Two shallow oxide resources (historic, non-JORC) estimated at Silver Gulch and Morning Star.1
- SNX has recently defined several high priority drill targets, and a multi-hole drill program is permitted.
SNX Executive Chairman Peter Moore said“These results which returned up to 1270 g/t silver from Blackhawk are very promising, coming from a vast and extensive vein network. We’ve identified 22.5-line kilometres of veins at Blackhawk, but this known mineralisation has sat largely untouched since mining ceased in the area in the 1920s. We have two shallow oxide resources which have not been defined to a JORC-compliant level but this provides us the opportunity to deliver value from an existing project with further drilling and mineral resource definition. Our 20-hole drill program is permitted and ready to drill, providing us with the opportunity to use modern exploration techniques to potential to return further high-grade results and shape this as a company-making discovery for Sierra Nevada.”
SNX has previously identified a large and high-grade intermediate sulphidation epithermal Ag-Au-Pb-Zn vein system, likely related to a large porphyry system located immediately to the south. Partially coincident with the porphyry system, the Blackhawk epithermal project vein system covers about 5km2 and is open under cover to the north and northeast, with 22.5-line km of veins identified to date (see figure 1).1
Figure 1: Oblique view looking north of the Blackhawk Epithermal Project with a 3.5km by 2.5km field of view. The Blackhawk Porphyry project is situated in the foreground with the epithermal system being partially coincident with the porphyry system’s surface expression.2
Previous drilling by SNX beneath the Endowment mine at Blackhawk returned 12m at 219 g/t Ag from 250m including 5m at 479 g/t Ag from 256m. This drill intercept is 150m vertically below the deepest portion of the mine and includes higher grade intersections of:
- 0.5m at 1270 g/t Ag from 256.5m (21.5% Pb + Zn)
- 1m at 823g/t Ag from 257m (30.1% Pb + Zn)
- 1m at 654 g/t Ag from 258m (+50% Pb+ Zn)
As shown in Table 1, the intersection described above comes with considerable polymetallic credits. The complete mineralised intersection of 12m at 219g/t Ag also contains 3.05% Pb and 8.54% Zn across the interval, significantly increasing the potential value of mineralisation within the vein/structures.
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This article includes content from Sierra Nevada 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.
Kirgella Gift and Providence: First Inferred Mineral Resource Estimate of 76,400 oz Au from only 3m depth
Highlights
- First Inferred Mineral Resource Estimate for Kirgella Gift and Providence of: 2.34 Mt @ 1.0 g/t Au for 76,400 oz at a 0.5 g/t gold cut-off from only 3m depth.
- Gold mineralisation remains open at depth and along strike between Kirgella Gift and Providence:
- Potential for significant resource growth and upgrade following additional drilling to expand on unclassified blocks outside current model limits.
- Highly economic discovery with KalGold’s direct exploration expenditure cost (drilling and assay) of only ~A$4.20 per gold ounce.
- KalGold’s Total Mineral Resource base, comprising this new resource from the Pinjin Project, and the La Mascotte deposit at Bulong Taurus (see ASX: KAL 7th March 2023), now stands at 214,300 oz.
- Elevated gold price of over A$3,600/oz continues to drive interest in mineable gold projects.
KalGold Managing Director and CEO Matt Painter said:
“KalGold is proud to report the first Mineral Resource Estimate at the Kirgella Gift and Providence gold deposits. It totals ~76,000 oz defined at over 1.0 g/t Au from only 3m depth, remains open in several directions, and is considered the first step in defining the full potential of the Kirgella Gift and Providence gold deposits. Pleasingly, we have defined a shallow gold resource at a very low cost to the Company of around A$4.20 per gold ounce.
The Kirgella and Providence mineral resource estimate is comparable to other deposits within the Laverton Tectonic Zone and is considered typical of the region. This is particularly true of some of the constituent deposits at Ramelius Resources’ (ASX:RMS) Rebecca Gold Project, around 20 km to the south along strike.
KalGold now has defined a total resource base of 214,300 oz of gold. The increased resource base enables KalGold to commence high level mining optimisation studies to assess pathways to production. KalGold looks forward to continuing to progress its work in the Pinjin area with the aim of significantly growing this initial JORC Code (2012) resource and defining a suite of additional shallow resources.”
First Gold MRE at KalGold’s Pinjin Project
The Inferred MRE of 2.34 Mt @ 1.0 g/t Au for 76,400 oz Au has been defined at a 0.5 g/t gold cut-off from the Company’s recent drill focus on the shallow portion of the Kirgella Gift and adjacent Providence gold deposits (see Table 1), combined with thoroughly validated historic datasets. Work continues on both deposits, with gold mineralisation open at depth and along strike between the two. This MRE is expected to form the basis of future updates as drilling and exploration continues.
Table 1 – Kirgella Gift and Providence Mineral Resource at a 0.5 g/t gold cut-off Note totals may not sum due to rounding.Click here for the full ASX Release
This article includes content from Kalgoorlie Gold Mining 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.
Acquisition of Mubende Gold Project, Uganda
HIGHLIGHTS
- The granted exploration license EL00379 covers 202 square kilometres in the Mubende region west of Kampala and includes the highly prospective Bukuya prospect.
- The Bukuya prospect is currently being mined by 60-80 artisanal workers over 600 metres of prospective strike and remains open along strike and at depth.
- Rock chip samples taken from a recent site visit to the Bukuya prospect by consultant geologists returned numerous specimens containing visible gold in both ferro-manganese and quartz veins.
- Experienced in-country technical team appointed including Mr Dylan le Roux and Mr Allan Agumya to manage exploration activities.
- Field activities scheduled to commence 05 August 2024.
Commenting on the acquisition Managing Director Mr Mathew Walker stated, “We are delighted to have secured a significant land holding that has prospectivity confirmed by a strong presence of artisanal mining activity. Uganda has a well established gold mining industry and regulatory protocols that add to the appeal of the acquisition. We look forward to the commencement of field activities in the immediate term.”
MUBENDE GOLD PROJECT
The Mubende Gold Project is an extensive landholding of 202 square kilometers that covers a series of metasediments, predominantly characterized by meta-wacke’s and phyllitic slates, with occasional interbedded quartzite units and mafic volcanics. Late-stage granites have intruded the metasediments, mainly in the southern part of the license.
Figure 1: Regional Map with locations of Sifang licenses.
At the Bukuya prospect, wall rock consists of metapelitic units with vertical foliation trending NW in most shafts, turning EW in the northern artisanal shafts. Mineralization appears confined to a deformation zone within the metapelites and hosts three subsets of veins exploited by artisanal workers. The first subset includes quartz veins with hematite mineralization, iron-oxide staining, and goethite/limonite-filled vugs, seen in southern shafts with NW trending foliation. The second subset comprises metallic veins of blueish-grey and black ferro-manganese mineralisation with botryoidal textures and specular hematite, found in northern shafts with EW trending foliation. The third set comprises massive milky white quartz veins.
These veins are described in more detail below.
Type 1 (Iron-rich quartz veins): These are quartz veins that show varying degrees of ferro(-manganese) mineralisation. Mineralisation occurs as hematite (red), specular hematite (dark silver/black), and a lesser degree of manganese (botryoidal, blue-grey to black). Vugs filled with limonitic material is often seen in these veins and is interpreted to represent leached out sulphides. These veins are seen in the SE of the Bukuya site. They are typically decimetre to metre scale and are foliation concordant (vertical to subvertical with dominantly NW trend).
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This article includes content from eMetals 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.
