Polymetals Resources (ASX:POL) has returned another round of ‘high-grade’ silver-lead-zinc intersections from the Upper Main Lode at its Endeavor Mine in New South Wales, as it works towards an initial mineral resource estimate (MRE) later this year.
Underground diamond drilling returned 39m @ 502 grams per tonne silver (Ag), 6.9% zinc (Zn), and 5.4% lead (Pb) from 17m in POL025. Other results included 42.8m @ 358g/t Ag, 8.3% Zn, and 4.7% Pb from 19.4m in POL022A, and 32.75m @ 386g/t Ag, 7.8% Zn, and 4.5% Pb from 26.25m in POL017.
The company says the results are helping identify the geometry and continuity of sulphide mineralisation remaining around an area affected by subsidence in 1996.
Executive Director Jess Oram says the work is also providing a clearer picture of how metals are distributed through the weathered, oxidised, and supergene zones above the main sulphide mineralisation.
“The latest drilling continues the remarkable consistency we have seen across the Upper Main Lode, while giving us a much clearer understanding of the mineralised system,” Oram says.
“This growing geological understanding is reducing uncertainty and strengthening the model that will underpin the initial MRE for the Upper Main Lode later this year.”
The program followed a review of historical records, surveys, and underground observations that indicated the subsidence area may be smaller than previously interpreted. Drilling reported in June identified broad mineralised zones close to existing development, while July results demonstrated continuity between successive holes and allowed resource modelling to begin.
Attention has since turned to the oxidised upper section, where more recent holes returned generally ‘lower grades’ but provided further detail on its metal zonation. Results included 22.5m @ 6% Pb from 47.6m in POL030 and 9.7m @ 4.7% Pb from 53.5m in POL028.
Polymetals is continuing drilling and geological interpretation ahead of the planned Upper Main Lode MRE. Endeavor currently hosts an underground mineral resource of 16.3 million tonnes grading 8% Zn, 4.5% Pb, and 84g/t Ag under the JORC Code 2012.
Polymetals Resources is an Australian company focused on operating and expanding the Endeavor Mine in the Cobar Basin of NSW.
Write to France Pinzon at Mining.com.au
Images: Polymetals Resources
