Golden Mile Resources (ASX: G88) has announced a positive update on the AC drilling program at its Leonora East Gold Project of WA.
The company reported the intersection of high-grade gold mineralisation in aircore drilling program at the Wildcat Prospect.
Significant hits include 1 m @ 76.4 g/t gold from 37 m downhole; 6 m @ 3.13 g/t gold from 40 m downhole (including 1m @ 5.15 g/t gold and 1m @ 11.4 g/t gold); 8m @ 2.58 g/t gold from 28 m downhole; 2 m @ 5.98 g/t gold from 55 m downhole; and 1 m @ 5.17 g/t gold from 21 m downhole.
The company said that the results indicate gold mineralisation over at least 150 metres of strike length at shallow depths. G88 reported that the gold mineralisation is open along strike and at depth.
The company said that the drilling infilled a known mineralised structure defined by extensive historical workings and tested surface geochemical anomalies along strike.
G88 said that a program of reverse circulation percussion drilling is planned to test down-dip and strike extensions of mineralisation.
Leonora East project
The Leonora East Gold Project is located 30 km east of Leonora and 230 km north of Kalgoorlie in Western Austraila.
The project covers over 40 kilometres of strike and is composed of two sub-project areas – the Monarch Trend in the north and Benalla in the south.
The MGT covers the eastern contact of the Mertondale Shear Zone with the basement granites and represents a poorly tested but extensive gold bearing structure extending over more than 16 km of strike.
Drilling at Leonora project
The company had recently completed an aircore drilling (AC) program in December 2019, at the Monarch Gold Trend (MGT) at the Leonora East Gold Project.
The AC drilling program was designed to infill known mineralisation at the historical Wildcat Prospect within the within the northern MGT, approximately 40 km to the northeast of Leonora.
A total of 71 AC holes were completed for a total of 2,289 metres of drilling. This included 11 targeted drill holes to infill and confirm the high grades intersected in the previous percussion drilling.
About Wildcat prospect
The Wildcat Prospect is associated with a number of significant, previously unknown geochemical anomalies along the MGT that Golden Mile has identified with an extensive auger sampling program.
The sampling, in conjunction with investigation of the historical workings and drilling in the area identified a number of mineralised trends that justified further drill testing.
Significant gold intersections
The company announced that the drilling intersected significant gold mineralisation, principally on the mineralised structure at Wildcat in the area with most of the historical workings.
Important intersections include 1 m @ 76.4 g/t gold from 37 m downhole (hole MTAC083); 6 m @ 3.13 g/t gold from 40 m downhole including 1m @ 5.15 g/t gold and 1m @ 11.4 g/t gold (hole MTAC074); 8m @ 2.58 g/t gold from 28 m downhole (hole MTAC078); 2 m @ 5.98 g/t gold from 55 m downhole (hole MTAC075); and 1 m @ 5.17 g/t gold from 21 m downhole (hole MTAC073).
Over 150m strike, high-grade gold mineralisation
G88 said that the results of the drilling have confirmed that zones of very high-grade gold mineralisation are associated with quartz veining occur along a northwest – southeast trending structure.
The company said that the observed quartz veining is hosted by variably sheared, fine-grained mafic volcanic rock (basalt).
G88 reported that the gold mineralisation occurs over a strike length of approximately 150 metres and is open both along strike and down-dip.
Based on cross-section interpretation, the mineralised structure has a steep to subvertical dip to the southwest.
G88 said that the current drilling indicates some wider intersections of lower average grade, suggesting greater tonnage potential, with local shoots of high-grade material.
The company said that the results indicate that the structure at Wildcat contains high grade gold mineralisation at shallow depths that has continuity over at least 150 metres of strike length. The company said that the mineralised structure is open along strike and at depth.
The Company reported that it considers the Wildcat Prospect to be a priority area for further drilling follow-up, in order to further extend the gold mineralised zone along strike and down dip.
G88 said that additional systematic aircore and reverse circulation drilling is currently being planned for the prospect area and the company would announce an update once this work is completed.
The company said that Infill and extensional drilling to test for lateral and depth extensions may be undertaken, as well as the drill testing of other geochemical anomalies, as appropriate.
Golden Mile’s Managing Director, Lachlan Reynolds said: “We are very excited by these drilling results from Wildcat, which suggest that drilling has intersected the near surface part of a high grade mineralised system.
Further drilling is required to evaluate the full potential of this and other exploration targets in the area.
Recent exploration successes by a number of companies in the WA Goldfields encourages us that drilling in and around historical high grade deposits or workings has the potential to realise significant new gold resources and unlock previously unrecognised value.