Prospech Limited (ASX:PRS) has started diamond core drilling for gold-silver at the Hodruša Project on the Low Angle Normal Fault (LANF) structure, which hosts the known ‘high-grade’ Rozália Mine in Slovakia.
The LANF drilling program is the culmination of the company’s previous exploration at the Ignac, Banky, and Bauch targets, all of which lie on the surface trace of the LANF and the results of the IP-Resistivity survey completed by Prospech in December 2021.
Prospech notes that the orebody being exploited at the nearby operating Rozália Mine is believed to be geologically controlled by the LANF, the up-dip surface trace of which falls mainly within Prospech’s Hodruša-Hámre exploration licence.
The company’s share price was up 11.538% as of 9.30am AWST.
Addressing the drilling campaign, Prospech Managing Director Jason Beckton said: “Drilling continues on the company’s flagship Hodruša exploration licence.
“Drilling continues on the company’s flagship Hodruša exploration licence”
The drilling program will test the detachment fault (or LANF) geophysics anomaly identified by the IP survey completed to perfect a target zone we have been preparing for some years.”
The company reports that the LANF hosts the neighbouring Rozália gold mine which operates at an average head grade of 12g/t Au.
In addition, assay results from the recently completed Schopfer drilling are expected in mid-August with samples dispatched last week.
Previously reported exploration results included rock chip assay results at Ignac of up to 47.3g/t Au and 1,500g/t Ag with 42 samples averaging 7.8g/t Au and 330g/t Ag.
Founded in 2014, Prospech engages in mineral exploration with projects in Slovakia, which is an advanced economy with producing mines and is a member of the European Union and Eurozone.
Prospech’s objective is the discovery, definition and development of ‘high-grade’ silver, gold, and critical element resources.
Images: Prospech Limited
