RTG Mining (ASX:RTG) is planning to follow up on recent ‘high-grade’ copper and gold soil sampling results from its Chanach Project in the Kyrgyz Republic during its next field season.
Chief Executive Officer (CEO) Justine Magee says the company is planning to conduct a 3D induced polarisation (3DIP) survey and a drilling program in the area, as the latest results confirm multiple styles of mineralisation and more ‘encouraging’ gold and copper grades along 6.5km of skarns and new structures.
RTG, which has a $30.47 million market capitalisation, reports that the ‘high-grade’ trench sampling assays include Cut 6, with 17m @ 5.13 grams per tonne (g/t) gold (Au) and 0.78% copper (Cu); and Cut 7 with 3m @ 2.52g/t Au and 10.48% Cu.
Magee says the results continue to build the company’s confidence that Chanach may be a similar opportunity to its Mabilo Project in the Philippines, with ‘strong’ potential to evolve into a ‘high-grade, large’ copper-gold porphyry skarn system — combined with a ‘high-grade’ epithermal gold system.
“The results from the magnetic surveys have correlated well with our high-grade trench sampling results, providing a much stronger understanding of the significant scale and potential of the Chanach Project.”
“The results from the magnetic surveys have correlated well with our high-grade trench sampling results, providing a much stronger understanding of the significant scale and potential of the Chanach Project”
Recent exploration activities undertaken at Chanach included ground-truthing, the collection of soil samples, the digging of cut trenches across the identified skarn and outcropping quartz, and a magnetic survey over the tenement.
The drone magnetic data will be integrated with all other geological datasets to yield precise target locations for further detailed exploration in the next field season.
The Chanach Project sits in the Western Kyrgyzstan province — an emerging mining jurisdiction.
RTG Mining is an ASX-listed mining and exploration company focused on copper and gold in emerging mining jurisdictions.
As of 30 September 2023, the company had US$7 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: RTG Mining
