Polymetals Resources (ASX:POL) has returned assays from the first 12 underground diamond drill holes conducted at the Endeavor Mine in Cobar, New South Wales, strengthening the mine’s potential to add ‘high-grade’ mineralisation.
The company says the ongoing drilling campaign, along with assays received thus far, have strengthened Endeavor’s potential to add ‘high-grade’ silver-lead-zinc mineralisation to its mining inventory.
Ongoing drilling is set to cover 34 holes across 3,100m, with assays received from the first 12 holes confirming ‘broad’ zones of mineralisation to remain intact in the Upper Main Lode, adjacent to existing mine development.
Assays returned to date include 45.2m @ 197 grams per tonne silver, 8.9% zinc, 11% lead, and 0.18% copper; 33m @ 209g/t silver, 9.9% zinc, 8.1% lead, and 0.17% copper; and 33m @ 205g/t silver, 9.6% zinc, 5.5% lead, and 0.14% copper.
This drilling campaign has been designed to define the continuity and scale of mineralisation both within and around the reinterpreted collapse zone.
Reassessing records
Polymetals reassessed the historical mine records for the project, along with conducting a review of survey data and an underground inspection.
Executive Director Jess Oram says the company’s review of this information, in combination with recent drilling, indicates the extent of the 1996 stope collapse may have been “considerably smaller than previously interpreted”.
“The results from the first 12 holes provide strong support for that view,” Oram says.
“Every hole (bar one) has intersected significant mineralisation demonstrating that substantial volumes of high-grade silver-lead-zinc remain intact adjacent to the collapse boundaries. What makes these results particularly important is their location.
“The mineralisation occurs within an established mining environment, close to existing infrastructure and immediately adjacent to the high-grade Upper North Lode.”
Polymetals Resources is an Australian mining company focused on the cost-efficient development and production of high-grade silver and zinc assets, including its flagship Endeavor Mine in the Cobar Basin of New South Wales.
Write to Maddison Elliott at Mining.com.au
Images: Polymetals Resources
