DevEx Resources (ASX:DEV) reports further ‘encouraging’ assay results received from its air-core (AC) drilling campaign at the Nangus Road Prospect, within its 100% owned Junee Copper-Gold Project in New South Wales.
Reconnaissance AC intercepts continue to define the presence of a coherent north-south oriented gold zone which extends for over 1km, including 1m @ 4.9g/t Au from 42m (22JNAC081), 5m @ 1.3g/t Au from 6m (22JNAC062) and 3m @ 1.3g/t Au from 4m (22JNAC013).
The company reports this follows on from previous intercepts along strike including 4m @ 2.5g/t Au from 28m, and 1m @ 6.3g/t Au at the bottom-of-hole (22JNAC041).
The shallow gold zone lies within a broad 200-metre-wide zone of strongly altered (phyllic to localised advanced argillic alteration) and sheared andesite volcanic rocks which in turn are flanked by propylitic altered monzonite intrusions to the east and west.
Preliminary alteration analyses of the deeper drilling indicates alteration characteristics typical of rocks positioned above a porphyry copper-gold system.
Commenting on the results, DevEx Managing Director Brendan Bradley said: “Having received the remaining assay results from the reconnaissance air-core program at Nangus Road, we are now planning a step-out drill campaign to the north, south and below the recently reported intercepts.
“We are now planning a step-out drill campaign to the north, south and below the recently reported intercepts”
Also, given that deeper RC and diamond drilling to date has only tested Nangus Road on two east-west traverses 400m apart, the wider potential for a large-scale porphyry copper gold system remains poorly tested, especially to the south and at depth.
The next program will therefore be designed to better understand this potential.”
The Junee Project lies on the southern extension of the Macquarie Arc of NSW – Australia’s largest porphyry copper-gold terrane.
Age dating and chemistry from the area undertaken by the Geological Survey of New South Wales identified monzonitic intrusions, with similar chemistry and the same age as the Cu-Au mineralised intrusions at the major Cadia-Ridgeway and Northparkes mining operations to the north.
At Nangus Road, early drilling in 2020 defined a monzonite immediately south of the current drill program. Geochemistry of the monzonite indicated it is a porphyry-fertile, high potassium intrusion similar to other large porphyry Cu-Au deposits in the region, such as those seen at Cadia-Ridgway and Northparkes.
The ‘extensive’ gold-copper anomalism on the northern margin of the Nangus Road monzonite and them extensive alteration zone seen in the current drill program are pointing to an exciting and rapidly developing exploration opportunity.
Images: DeVex Resources Limited