Eastern Resources (ASX:EFE) has received assay results from its maiden reconnaissance sampling program at the Marengo Gold Project in Queensland.
The program, which involved the collection of 60 rock chip samples, targeted historic workings and vein extensions at surface across a 750-hectare area encompassing the One Mile Mountain, Sulphide Shaft, and Seymour’s Reef prospects.
All 60 samples returned detectable gold values, with 20 samples exceeding 1 gram per tonne gold (Au) and 13 samples returning grades above 5g/t Au. The peak gold result from the campaign was recorded at 12.3g/t Au from sample 3017023, which also contained 9.2g/t silver (Ag). Sample 3017027 returned 8.91g/t Au alongside a peak silver grade of 153g/t Ag.
Executive Director Myles Fang says the initial results will help guide the companys next stage of exploration.
“Rock chip sampling of the known gold-silver mineralisation returned peak values of 12.3g/t Au and over 100.0g/t Ag. Our plans involve further mapping and sampling, refining drill targets, and follow-up maiden drilling. We look forward to returning to Marengo in coming months to pursue a further exploration program,” Fang says.
Geological mapping during the program also identified a new vein system, named Reza’s Reef, which tracks between One Mile Mountain and the Homeward Bound group of prospects. According to Eastern Resources, the reef extends for about 1.7km at surface, has an estimated width of 1m, and is flanked by up to two parallel veins of similar size. Eighteen new samples were collected along this trend, returning consistent grades above 1 part per million Au.
The Marengo Gold Project is located roughly 35km southwest of Bowen, Queensland, within a regional mineral belt positioned 45km southeast of the 1.1-million-ounce Mt Carlton gold mine. The company holds the rights to earn up to an 80% interest in the asset.
According to Eastern Resources, multi-element analysis by consultant geologist Dr Gregg Morrison indicates the ‘higher-grade’ gold results are associated with bismuth and iron oxide cavity fills within gossanous breccias, while ‘lower-grade’ gold correlates with base metals including copper. The company says this geochemical signature will help guide future sampling.
Following the completion of target refinement, Eastern Resources plans to finalise its maiden drilling program layout and submit documentation for subsequent exploration permitting.
Write to France Pinzon at Mining.com.au
Images: Eastern Resources
