AIC Mines Limited (ASX: A1M) has announced encouraging exploration results from its 100% owned 4G Hill Prospect at the Marymia Exploration Project in central Western Australia.
The company said that the costean sampling to follow up the previous high‐grade rock chip samples at the 4G Hill Prospect have returned further high‐grade results of up to 85.86 g/t gold from a highly gossanous and brecciated quartz vein.
AIC Mines said that four composite samples across the exposed gossan returned 8m grading 47.99 g/t gold, 5m grading 33.07 g/t gold, 5m grading 57.58 g/t gold and 6.5m grading 32.21 g/t gold.
It may be noted that the host rocks can be traced for over 30 kilometres and have seen very limited exploration for gold.
Marymia exploration project
AIC Mines’ principal asset is the Marymia exploration project located approximately 160km south of Newman in the eastern Gascoyne region of Western Australia and covers over 3,200 square kilometres.
The project is strategically located within trucking distance of the Plutonic Gold Mine and the Degrussa Copper Mine.
Five high priority prospects have been identified at Marymia of which three are gold and two are silver. The three gold prospects are Two Pools, Marymia NE, and 4G Hill; while the two copper prospects are Copper Hills and Doolgunna Project wherein AIC Mines earns 80%.
High‐grade rock chip sample assay results of 387 g/t gold and 230 g/t gold have previously been reported from the 4G Hill gossan.
More about 4G hill gossan
The exposed 4G Hill gossan is a highly ferruginous and shattered quartz vein up to 0.5m thick, which appears to have formed within a flexure in an iron‐rich coarse gritty sandstone unit.
Host rocks are Sedimentary Iron Formations (SIF), probably of Proterozoic age, and form part of the Copper Hills Schist Belt located along the northern margin of the Archean Marymia Inlier.
The source of the gold is not yet understood but could be from within the Proterozoic SIF or from the Archean Basement. There has been very limited gold exploration along the SIF units which can be traced for over 30 kilometres.
Promising new results at 4G hill
In order to follow-up the high‐grade rock chip sample assay results, AIC Mines excavated four shallow costeans across the 4G Hill gossan. The company said that the gossan was identified through soil sampling and rock chip sampling.
The company said that four composite samples were taken across the exposed gossan surface and returned promising results. The samples were collected on 0.5m intervals with a handheld jackhammer along channels whose orientation was dictated by exposure and were designed to return a representative grade of the gossan.
Significant results include 8m grading 47.99 g/t gold, 5m grading 33.07 g/t gold, 5m grading 57 g/t gold and 6.5m grading 32.21 g/t gold.
AIC Mines said that rock chips were also taken from the four costeans at 1 metre intervals. The company reported that the rock chip samples returned high‐grade gold results where the gossan was intercepted with a maximum result of 85.86 g/t gold.
AIC Mines said that the latest results are very promising and clearly warrant follow up.
The company said that it is now actively exploring the Cu Hills Schist Belt that includes 4G Hill with the aim to define a drilling program.
The company announced that a detailed interpretation of airborne magnetic data is currently being completed with the objective of determining the likely structural controls on the location of mineralisation. A1M said that this interpretation will be used to plan an RC drilling program.