Initial Assays Confirm High-Grade Mineralisation Controls at Thursday’s Gossan

March 09, 2017

Highlights

  • Initial assay results from recent diamond drilling at the Thursday’s Gossan copper porphyry prospect in western Victoria support the new interpretation of the high-grade mineralisation controls (see ASX Announcement – 22 February 2017).
  • Recently completed diamond drilling confirms the ‘D’ vein relationship between high-grade copper-silver-gold mineralisation at depth and its distribution and relationship to the near-surface chalcocite blanket. Assay results include:
    • 1m at 1.48 g/t Au, 21 g/t Ag and 1.72% Cu including;
      • 9m at 4.87 g/t Au, 64 g/t Ag and 5.17% Cu
    • 3m at 0.44 g/t Au, 6 g/t Ag and 1.66% Cu including;
      • 3m at 0.16 g/t Au, 16 g/t Ag and 5.16% Cu
    • Previously recognised porphyry ‘D’ veins noted in drilling at depth are now believed to be responsible for the higher tenor copper, gold and silver results recorded near surface, including:
      • 7m at 4.1% Cu and 1.1 g/t Au from 94.7m; and
      • 5m at 2.9% Cu and 0.4 g/t Au from 154.6m in drill hole SNDD001;
      • 6m at 4.23% Cu, 50 g/t Ag and 0.42 g/t Au from 32m in drill hole TGAC016;
      • 33m at 0.6 g/t Au from 23m including 9m at 1.76 g/t Au from 26m in drill hole TGAC013;
      • 12m at 1.08% Cu and 0.24 g/t Au from 30m in drill hole TGAC004; and
      • 32m at 0.8% Cu and 0.4 g/t Au from 22m in drill hole VSTD001.
    • Further drilling specifically targeting these near-surface expressions of the sulphide-rich ‘D’ veins has the potential to materially increase the grade of that portion of the Mineral Resource where these veins occur, especially as gold and silver are not included in the current Mineral Resource estimate.

CLICK HERE FOR FULL ANNOUNCEMENT