Neometals (ASX:NMT) plans diamond drilling at its Ironclad gold deposit after reverse circulation (RC) holes returned significant mineralisation over widths exceeding 10m.
The company completed five RC holes for 662m at the Ironclad deposit within its 100%‑owned Barrambie Gold Project in Western Australia during July. All four holes that reached target depth returned significant gold grades.
Best results include 12m @ 5.99 grams per tonne gold (Au) from 116m in hole 26ICRC004, including 4m @ 10.13g/t Au from 118m. Hole 26ICRC003 returned 11m @ 5.5g/t Au from 94m, including 3m @ 15.1g/t Au from 94m.
The deepest hole, 26ICRC005, was discontinued due to water ingress before reaching its target zone. The company plans to complete this hole with a diamond tail in September.
Managing Director Chris Reed says the results strengthen the view that “Ironclad hosts a higher-grade plunging corridor that may improve at depth”.
“We are very encouraged by these results. All four completed holes returned significant gold mineralisation over widths exceeding 10m and, importantly, the deepest drilling at Ironclad has delivered some of the best grade-width intersections we have seen to date,” Reed says.
“Our recent ground gravity survey has also identified a potential feeder structure off the Youanmi Zone, giving us a clear target for the next phase of drilling.”
A ground gravity survey completed over the project area in July has assisted in interpreting a potential gold fluid feeder structure associated with the Ironclad deposit.
Additional results include 18m @ 2.14g/t Au from 89m in hole 26ICRC001, including 8m @ 3.29g/t Au from 89m and 2m @ 4.61g/t Au from 103m. Hole 26ICRC002 returned 15m @ 1.12g/t gold from 69m, including 2m at 2.57g/t gold from 69m and 4m at 2.34g/t gold from 80m.
Neometals plans to extend hole 26ICRC005 to its target depth and drill an additional 50m step‑out hole down plunge towards the interpreted feeder structure.
Write to JC Villarba at Mining.com.au
Images: Neometals
