Polymetals adds new level to Carpark

Recent positive results has driven Polymetals Resources (ASX:POL) to today (21 February 2024) start diamond drilling at its Carpark prospect, as part of the Endeavor Mine in New South Wales. 

On-site XRF analyses of reverse circulation (RC) drilling indicate potential for an underlying sulphide source has led the company to launch this diamond drilling immediately.

Speaking to Mining.com.au, Polymetals Corporate Development Linden Sproule says over the past 6 days, Polymetals has completed 774m of RC drilling at Carpark. 

“Strongly anomalous zinc and lead mineralisation was encountered in all holes. Based on these results, a diamond drilling program will commence immediately to extend the down dip potential of the current drill intercepts into the potential deeper sulphide source and IP geophysical anomaly.”

The $40.98 million market capitalisation company reportsdrilling is designed to test for a sulphide source beneath the pronounced zinc anomalism and into the induced polarisation (IP) chargeability anomaly. 

As this news service previously reported, Polymetals conducted a phase two RC drilling program at the Carpark prospect to test copper anomalies within the approved mining leases.

Polymetals says this program has enhanced the prospect as onsite x-ray fluorescence (XRF) analysis of RC samples from 5 holes for 774m suggests that a sulphide source potentially lies beneath the ‘highly’ anomalous zones now defined over an area of 60m by 60m. 

This zone displays similar lead and zinc values, alteration, and mineralisation as displayed above the main lode orebody 150m to the north of the prospect. 

The Carpark prospect lies in a ‘large’ exploration search volume that has not been drilled since discovery of the mine in 1974. 

Polymetals Resources is an Australian mining and exploration company with a portfolio of projects that have ‘significant’ potential for the discovery and development of precious and base metals.

Write to Aaliyah Rogan at Mining.com.au      

Images: Polymetals Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.