G11 Resources (ASX:G11) has completed its second diamond drill hole at the Sedgwick Bluff Project in Tasmania, intersecting a broad hydrothermal alteration zone at the Zig Zag target.
Diamond drill hole SD2602 intersected about 90m of silica-sericite-pyrite altered rhyolite from 1,089m downhole within the Zig Zag controlled-source audio-magnetotelluric (CSAMT) target.
According to G11, the alteration ranges from weakly pyritic, containing about 3–4% pyrite, to zones with more than 50% pyrite.
The hole was completed to a depth of 1,201m, testing the western portion of the Zig Zag target about 600m below surface.
The company says the intersection is a “highly positive outcome” and supports its targeting strategy for base metals and gold in the Mt Read Volcanic Belt.
Diamond core from SD2602 has been dispatched to laboratories for base metals and gold. A downhole electromagnetic survey is underway to identify sulphide-related conductors. G11 says the survey results and assay results will guide further drilling at Zig Zag.
While awaiting results, drilling has moved to the Sunrise electromagnetic target in Comstock Valley, where an initial 700m diamond hole is testing an untested geophysical target.
G11 plans to complete the Sunrise hole before returning the drill rig to Zig Zag.
The Mt Read Volcanic Belt hosts mines including Mt Lyell, Henty, Roseberry, Hellyer, and Renison Bell. According to G11, much of the belt remains underexplored due to access constraints.
Write to France Pinzon at Mining.com.au
Images: G11 Resources
