Core Exploration (ASX:CXO) has intersected an intense breccia...

Core Exploration (ASX:CXO) has intersected an intense breccia zone of base metal sulphide mineralisation during recent drilling at the company’s Yerelina zinc project in South Australia.

Drilling at the project’s Great Gladstone prospect encountered a 9.8-metre section from a depth of 144 metres downhole demonstrating breccia and veining as sphalerite (zinc) along with galena (lead).

The mineralised zone is also mapped as a gossan outcrop at surface and occurs within a fault zone interpreted to be up to 1.5 kilometres long.

Surface channel sampling of these gossans at Great Gladstone returned significant zinc, lead and silver assays.

Of the 38 samples taken along a 1-kilometre section of fault zone at Great Gladstone, 34 returned combined lead and zinc assays in excess of 10,000 parts per million and more than 1 g/t silver.

The best assay graded 14.7% zinc, while lead values peaked at 12.7% and silver at 567 g/t.

Assay results from the breccia encountered in the latest drilling are expected to be delivered in 4-6 weeks.

Yerelina’s prospectivity is demonstrated by high-grade mineralisation and historic mine workings within repeated structures over an 8-kilometre by 3-kilometre area.

Core’s analysis of modern satellite imagery and the Company’s detailed heli-borne magnetic and radiometric survey data have identified that these mineralised structures are potentially part of a large scale system of repeated north-south regional faults.

Core has also been awarded a grant of up to $75,000 for drilling as part of the SA government’s PACE Discovery Drilling 2015 program.

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