Critical metals explorer ACDC Metals Ltd (ASX:ADC) has confirmed discovery of a new strandline – dubbed ‘Venice Beach’ – through drilling work at its Watchem North heavy mineral sands project in Victoria, also pulling up assays of nearly 38 percent total heavy minerals (THM).
Venice Beach is shallow, high in grade and carries a strike length of 9 kilometres, together with an across-strike width of 100 to 300 metres.
Assaying results have included 6.00 metres at 37.9 percent THM from 6 metres, 4.50 metres at 29.2 percent THM from 6 metres, and 3 metres at 20.3 percent THM from 4.50 metres.
Additionally, ACDC’s interpretation work has suggested the possibility of a second strandline over 35 kilometres at the project, while drilling has pulled up evidence of a third one, which is interpreted to represent an extension to Iluka Resources Ltd (ASX:ILU)‘s Barbary heavy mineral sand resource.
CEO Tom Davidson said the results revealed ACDC’s exploration potential in the region.
“These exciting results reinforce our ability to discover new high grade mineral sand occurrences across our large exploration licence package,” he said.
“We have an emerging discovery already at our Douglas Project, and now a second high grade, shallow discovery at Watchem North.
“Out geologists are also very excited about the new strandline we have identified by reprocessing government magnetic data, which we believe may have large scale potential.”
The company kicked off a drilling program comprising 132 holes for 5,500 metres at Watchem North in February and March, yielding evidence of multiple new strandlines, and followed this up with more drilling in May to test the extent of what had been found
ACDC has been trading at 7 cents.