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Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to provide an update following the completion of drilling and receipt of assay results for the Company’s Spargoville Project near Widgiemooltha, Western Australia. The drilling program was completed in July 2024 with 71 aircore holes drilled for 2,259m (Figure 1).
HIGHLIGHTS
- Spargoville aircore drilling program completed with 71 holes drilled for 2,259 metres.
- Fugitive and Anomaly 37 Prospects confirmed as first order targets for RC drilling.
- Aircore results include:
- 4m @ 2,794ppb Au (2.79g/t Au), including 1m @ 10,182ppb Au (10.2g/t Au)
- 22m @ 246ppb Au and
- 11m @ 303ppb Au
Aircore holes were drilled in east-west traverses across distinct gold anomalies defined by soil-auger sampling in both E15/1688 and E15/1689. Best results were returned from drilling into two large soil-auger gold anomalies within E15/1688; one representing the Fugitive Prospect and the other, referred to as the Anomaly 37 Prospect. Results from the Fugitive Prospect include:
- AAC0488; 4m @ 2,794ppb Au (2.79g/t Au), including 1m @ 10,182ppb Au (10.2g/t Au)
- AAC0484; 22m @ 246ppb Au and
- AAC0485; 11m @ 303ppb Au
Results from the Anomaly 37 Prospect include:
- AAC0475; 5m @ 275ppb Au
The latest aircore results and recent RC drilling results from the Fugitive Prospect (ASX:AWJ Announcement dated 4 June 2024) reaffirm the potential within E15/1688 in particular and provide further incentive to undertake deeper RC drilling in the Fugitive and Anomaly 37 Prospects.
Figure 1. Spargoville aircore drill holes relative to soil auger gold anomalism and grey scale magnetic image.
Program and Results
A total of 71 aircore holes were drilled by Kalgoorlie-based Kennedy Drilling in July. Holes were drilled in traverses across distinctive gold anomalies defined by auger sampling within two tenements; E15/1688 and E15/1689 (Figure 1). Eighteen of the aircore holes infilled gaps in drilling in the soil-auger anomaly defining the Fugitive Prospect.
Samples were taken at 1m intervals and combined using a hand-held scoop into 4m composites for gold analyses via 25g aqua regia digest and mass spectrometer finish. The bottom of hole composite for each hole was also submitted for analysis of Au and a suite of 48 other elements via a 4-acid digest and ICP MS finish. Composite samples returning 100ppb Au (0.1g/t Au) or more were resampled as single metre intervals.
Fifty of the 1m samples returned assays of 100ppb Au (ie, 0.1g/t Au) or more. They are recorded as composite intervals in Table 1. Drill hole details are recorded in
Table 1. Significant gold intersections at 100ppb cut-off
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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
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, 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.
