Golden Mile Resources (ASX:G88) has begun investigating the exploration potential for gold at its Quicksilver Nickel-Cobalt Project in Western Australia.
The Western Australia-based explorer has completed a detailed review of existing project data following ‘significant’ gold mineralisation intersections from nickel-cobalt resource drilling, up to 1m @ 4.1 grams per tonne (g/t) gold from 33m.
Golden Mile Resources Managing Director Damon Dormer says the gold potential at Quicksilver is ‘hugely exciting’, and further testing in the short term will be carried out where synergies exist within the infill drilling program and Scoping Study works.
“The gold within Quicksilver will be a byproduct of mining the nickel, and it will effectively have free-carry through both mining and processing making it a highly valuable, additional revenue stream.”
“The gold within Quicksilver will be a byproduct of mining the nickel, and it will effectively have free-carry through both mining and processing making it a highly valuable, additional revenue stream”
Several trends, presumed to be underlying structures, have been uncovered from detailed aeromagnetic data and the resource drilling program.
Golden Mile says these trends represent gold targets within the resource area that can be tested at the same time as the proposed ‘high-grade’ nickel mica exploration drilling.
The recent drilling at Quicksilver was aimed at delineating nickel-cobalt oxide mineralisation and is as such ‘not ideal’ for delineating the source of structurally controlled, primary gold mineralisation, according to Golden Mile.
Further, the company says in the area where the highest supergene grade was encountered, the drilling did not penetrate the oxide zone and test the underlying primary rocks.
In any case, Golden Mile maintains that the area represents a ‘compelling’ gold target.
The main trend is an interpreted ‘large’ north-south regional fault that can be traced at least 14km in the aeromagnetic data extending into Golden Mile’s Quicksilver South tenement.
Along this interpreted regional fault lie multiple flexures and intersections of secondary structures that represent further regional gold targets along-strike, both to the north and south of the main Quicksilver resource area.
Golden Mile Resources is a minerals explorer and developer focused on developing its wholly owned Quicksilver project near Lake Grace, 300km southeast of Perth, Western Australia.
As of 30 September 2023, the company had $1.263 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Golden Mile Resources