Australian growth focused resources company AIC Mines (ASX:A1M) reports it has received broad intersections of elevated zinc (Zn) and lead (Pb) mineralisation following both reverse circulation (RC) and diamond drilling (DD) programs at its Lamil Gold-Copper Joint Venture (JV) Project in Western Australia (WA).
The results, generated by a total of 6,992m of drilling across the project’s Lamil Dome, Goodenia, Sundew, Flame Pea North and Flame Pea South targets, have returned elevated copper (Cu), zinc (Zn), gold (Au) and lead (Pb) mineralisation.
Key results from the Goodenia prospect include: 6m at 0.09% Zn and 0.03% Pb from 322m, as well as 6m at 0.21% Zn and 0.09% Pb from 474m.
Significant results from the Sundew, Flame Pea North and South targets include: 5m at 0.13% Cu from 152m, 3m at 0.16% Cu from 160m and 40m at 0.04% Cu from 120m including 4m at 0.12% Cu from 128m.
Drilling was conducted to target multiple magnetic and gravity anomalies, as well as a halo of base metal anomalism present within the project tenure.
Speaking on the results, AIC Mines Managing Director, Aaron Colleran says: “Drilling continues to return extensive areas of alteration and elevated base metal and gold mineralisation.
“Drilling continues to return extensive areas of alteration and elevated base metal and gold mineralisation”
The large project area remains prospective for a number of different deposit types.”
The company notes that drilling at the Lamil Dome prospect has demonstrated that the eastern flank of the prospect is composed of several mafic intrusive bodies that appear to narrow to the north and south.
Drilling has also defined a central zone of notable intervals over about 2km of strike associated with strong alteration.
Meanwhile, a broad interval returned from drillhole 22ALRC0113 is reported to be hosted by a zone of intense albite and hematite alteration within a mafic unit, indicating that the magnetic anomaly is related to an extensive mafic intrusive that is potentially analogous to the Lamil Dome eastern flank.
In addition, AIC Mines reports it has completed its expenditure requirements to earn a 50% interest in the project and has not elected to continue sole funding.
AIC Mines and its Australian based exploration JV partner Rumble Resources (ASX:RTR) with both now holding an equal 50% interest in the project. Both companies also contribute equally to exploration expenditure.
The Lamil project is located in WA’s Paterson Province about midway between the Telfer Gold-Copper Mine and the Nifty Copper Mine. The project covers an area of 1,200km-square and is considered prospective for both gold and copper mineralisation.
AIC Mines is currently focused on the discovery of Tier 1 gold and copper deposits that share similarities to the world class Telfer mine and Nifty mine.
Images: AIC Mines Ltd
