St Barbara spots visible gold at Cochrane Hill

St Barbara Mining (ASX:SBM) has unveiled ‘significant’ visible gold at its Cochrane Hill Deeps resource in Nova Scotia, Canada. 

The gold hits come from the company’s first diamond drill hole as part of its exploration program in the area, which struck quartz veining with associated arsenopyrite at its targeted depth of between 389m and 428m. 

Visible gold was found at 389.5m, 410.6m, 410.8m, 413.45m, 413.5m, 413.6m, and then again at 427.7m downhole. The diamond hole was drilled to a final depth of 473m. 

St Barbara cautions, however, that visible gold should not be taken as a substitution for actual lab analysis, and assay results from this diamond hole are still outstanding. 

Still, company Managing Director and CEO Andrew Strelein says hitting multiple visible gold occurrences in the first deep hole at Cochrane Hill is ‘highly encouraging’ for the company.

“The program is designed to test for potential down-dip extensions to the known mineralisation, and we look forward to seeing the core from the remaining two holes and the assays to follow.”

St Barbara’s Cochrane Hill project comprises 7 tenements encompassing a section of the northeast-trending Cochrane Hill anticline, which the company says locally forms an overturned, tight isoclinal fold, with both limbs dipping to the north between 55 and 80 degrees. 

The project is St Barbara’s northeastern-most mineral resource. 

St Barbara plans to drill 3 diamond holes to around 475m deep as part of its current exploration program in the area.

Alongside its Nova Scotia operations, St Barbara produces gold from its Simberi project in Papua New Guinea. 

At the end of December 2023, the company had around $214 million cash at hand. 

Images: St Barbara Mining 
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Written By Joshua Smith
Joshua Smith has years of experience in the media sector, having worked as a markets reporter, features writer, and editor since completing a Communications and Journalism degree and a Creative Writing degree. Josh is an avid board game fan and a self-professed coffee snob.