Industrial Minerals (ASX:IND) says it is prioritising the North Pool prospect for drilling after geophysical reinterpretation confirmed a gold target coincident with historic ‘high-grade’ intercepts.
Reinterpretation of open-file aeromagnetic and gravity datasets defined a magnetic and gravity feature along the Chatterbox Shear Zone over an interpreted strike extent of at least 1,700m at the North Pool Project.
North Pool forms part of the Laverton Gold Project, which Industrial Minerals is obtaining through the acquisition of Galleon Metals.
The target sits on historic intercepts, including 1m @ 82.20 grams per tonne gold (Au) from 63m, 4m @ 19.17g/t Au from surface, and 1m @ 36.00g/t Au from 24m.
North Pool lies 1.5km along strike from Genesis Minerals’ (ASX:GMD) Beasley Creek deposit, which contains 430,000 ounces at 2.00g/t Au.
Incoming Managing Director Warrick Clent says North Pool is “the kind of target every exploration geologist wants to drill”.
“The reinterpreted magnetics and gravity have pulled the structure, the geophysics, and the historic gold together into one compelling picture,” Clent says.
“When you see intercepts like 1m at 82 grams and 4m at 19 grams from surface that were never followed up, sitting on 1,700m of prospective strike, you know exactly where the drill rig needs to go. We are excited to get into it.”
Additional historic reverse circulation (RC) drilling results along the Chatterbox Shear Zone include 8m @ 4.06g/t Au from 22m, 2m @ 12.97g/t Au from 55m, and 2m @ 7.52g/t Au from 212m.
Industrial Minerals is now planning to refine targets and design an RC drilling program to step out along and test the Chatterbox Shear Zone at depth.
The broader Laverton Gold Project covers 205km² within the Laverton Tectonic Zone.
Industrial Minerals is an explorer and developer focused on high-purity silica sand and mineral projects, as well as complementary industrial and precious metals projects across WA.
Write to Paula Fabe at Mining.com.au
Images: Industrial Minerals
