Australian explorer Red Hill Minerals (ASX:RHI) has intersected gold mineralisation at several prospects within its West Pilbara Project in Western Australia.
The $282.75 million market capitalisation company reports it has received assays from a 12-hole reverse circulation (RC) drilling program for 1,710m across the Dereks Bore, Jubilee, Kens Bore, and Barkley prospects in the area.
Assay results include hole 23DBRC001 with 1m @ 1g/t Au from 38m and 2m @ 1.5g/t Au from 48m and 23DBRC002 with 2m @ 2.2g/t Au from 84m at Dereks Bore. Meanwhile, 23KNRC001, drilled at Kens Bore, returned 15m @ 0.45g/t Au from 20m; and 23JBRC001, drilled at Jubilee, recorded 1m @ 1g/t Au 12m.
Red Hill reports Dereks Bore has a strike length of 1.3km and is defined by a series of over 10 parts per billion (pbb) gold soil anomalies at or near a faulted/shear contact between the Duck Creek Dolomite and the Mt McGrath Formation.
The company says 5 RC holes were completed for 696m in this region to test about 600m of strike around the existing intercepts along a steep gravity gradient that defines the interpreted north-northwest fault. Drilling at Dereks Bore intersected chert, shales, and basalt, with ‘encouraging’ silicification and vein-related pyrite observed throughout.
Existing gold-in-soil anomalism, gravity anomalism, and structural interpretations indicate the north-northwest fault remains untested to the northwest along strike for about 600m. Heritage surveys are planned to allow for follow-up drilling.
Red Hill reports the Kens Bore prospect is defined by 2 east-west-oriented soil anomalies over 10ppb associated with the unconformity between the Cheela Springs Basalt and the overlying sediments within the Mt McGrath Formation.
Hole 23KNRC0001 was designed to follow up the down-dip extension of KNRC0001, with results confirming consistent mineralisation related to a stratabound zone of silica-sericite alteration within fine-grained sediments of the Mt McGrath Formation, with associated anomalous arsenic-antimony. Mineralisation at Kens Bore also remains open down-dip and along strike to the south.
The Jubilee prospect is defined by ‘low-level gold-in-soil’ results associated with a northwest fault within the June Hill Volcanics and the Ashburton Formation.
Red Hill reports 5 RC holes were drilled here for 582m to follow up a versatile time domain electromagnetic (VTEM) survey, along with anomalous arsenic-antimony results from historic shallow aircore (AC) drilling.
These RC holes intersected faulted chert breccia and volcanics with assays returning anomalous gold-arsenic-antimony, extending the anomalous zone previously identified in AC drilling. The company says assay results and geological logging from 23KBRC0005 did not explain the VTEM anomaly.
Red Hill reports the Barkley VTEM anomaly was tested by hole 23BKRC001 and was explained by the ‘significant’ thickness of graphitic shales intersected at the target depth, and no significant gold or base metal results were returned. Further drilling is planned at Barkley to test coincident gravity and EM anomalies, as well as gold anomalies in historical drilling.
Red Hill Minerals is an Australian explorer focused on discovering non-ferrous minerals over the RHIOJV tenements at its West Pilbara Project in Western Australia.
Along with West Pilbara, the company is also developing its Pannawonica Channel Iron Deposits (CID) and rock quarrying opportunities from its Three Peaks Project.
On 31 March 2023, Red Hill had $40.3 million cash at hand, according to its latest quarterly report published on 28 April 2023.
Write to Harry Mulholland at Mining.com.au
Images: Red Hill Minerals Ltd