Enegex (ASX:ENX) has secured new gold prospects within the Perenjori and Three Springs projects in Western Australia.
At Perenjori, a new exploration licence application covers the Rocky Ridge prospect, across an area of ‘significant’ gold anomalism.
Meanwhile, at Three Springs, a ‘large’ new exploration licence application has also been secured.
The company sees an ‘excellent’ opportunity to find new and ‘stronger’ bedrock gold mineralisation along the broader Rocky Ridge anomalous trend and will conduct detailed data compilation and on-ground geological work to firm-up future drill targets.
Within Three Springs, exploration access to freehold farmland is subject to landowner consultation and consent, and any exploration programs are secondary to day-to-day farming activity.
Rocky Ridge sits on the central and western part of a curved aeromagnetic and gravity trend extending more than 20km and is defined by auger gold anomalism over 6.5km of strike.
The company reports gold grades commonly exceed 100 parts per billion (ppb) gold and are contourable over wide areas more than 20ppb gold.
The new prospect at Three Springs is ‘largely’ unexplored for gold besides a local auger sampling grid designed for nickel-copper-platinum group elements exploration.
Enegex says ‘importantly’, this grid was also assayed for gold and returned zones of raised anomalism aligned with aeromagnetic features and spot results to 151ppb gold. Anomalism is open to the edge of sampling in several locations, pointing to immediate follow-up potential.
The remaining portions of the tenement appear to be underlain by similar geology and therefore warrants field reconnaissance and first-pass geochemical sampling. This generally encompasses soil or auger samples collected alongside access tracks and fence lines.
Further, Enegex notes that the exploration licence applications are consistent with its aim to secure and test ‘high-value’ gold and copper targets in an area where it has considerable operating experience.
Enegex is an Australian-based mineral explorer focused on making discoveries in the prospective West Yilgarn province of Western Australia.
As of 31 December 2023, the company had $2.170 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Enegex
