Shree Minerals (ASX: SHH) has reported multiple stacked gold and silver lenses containing ‘significant’ gold, silver and base metal mineralisation following RC drilling at the Rock Lodge Prospect within its Lachlan Fold Belt Project in New South Wales.
The results have displayed four separate mineralised zones from 75m to 99m, with the deepest drill hole SRLRC005 returning grades up to 2m @ 2.13g/t Au, incl. 2m @ 2.12g/t Au.
The company notes that this recently-conducted RC drilling campaign, conducted on coincident IP chargeability anomalies, has been successful in returning anomalous arsenic and bismuth assays from within soil and rock chip samples.
Addressing the results, Shree Minerals Chief Geologist Michael Busbridge said: “The intersections illustrated in figure 3, from Shree’s drill holes SRLRC02 to SRLRC05 and also the historical drilling, including MYRC01, constitute a very wide (60m) mineralised envelope of stacked vertical lenses of significant polymetallic sulphide at Rock Lodge.
“As the envelope is open in all directions further drilling focusing on the continuity, depth and lateral extent of the stacked veins is now a very high priority”
Two hundred metres to the north, IP anomalies and similar anomalous rock chip geochemical signatures (figure 2), suggest the mineralisation envelope may be continuous at least to this area. As the envelope is open in all directions further drilling focusing on the continuity, depth and lateral extent of the stacked veins is now a very high priority and represents an exciting drill target for Shree Minerals.”
The company also notes that drilling conducted west of drill hole SRLRC02 has intercepted further gold mineralisation with grades reporting up to 8m @ 1.08g/t Au, incl. 3m @ 2.12g/t Au.
In addition, reports from the bottom of drill hole SRLRC05 indicate that rocks were displaying signs of pervasive hydrothermal alteration, which it says reinforces the possibility of additional mineralisation zones within the area.
Cross section displaying holes SRLRC002 and SRLRC005 at Rock LodgeThe Lachlan Fold Belt Project is located approximately 35km south of the township of Cooma in New South Wales, and covers a total land area of 163km².
The project is prospective for orogenic, intrusion-related gold systems, as well as skarn-related gold mineralisation.
The company reports that it will move forward with additional deeper diamond drill holes in order to complete DHEM surveys to search for off-hole conductors, once all laboratory results have been returned.
Images: Shree Minerals Limited
