Visually GNDD-264 has intersected strong limestone hosted skarn mineralisation in breccia over 18 metres from 109 metres downhole. Logging has reported vein and fracture hosted disseminated and massive sulphide mineralisation comprising up to 40% pyrite and 10% sphalerite. This mineralisation is visually consistent with the Magnata Fault hosted high-grade skarn mineralisation and interpreted as the M1 Magnata Fault. GNDD 264 is still drilling to test the M2 Magnata Fault structure which is prognosed further downhole.
GNDD-266 is logged as intersecting strong limestone hosted skarn mineralisation at 23.5 metres downhole and then from 38.8 metres to 43 metres downhole with logging reporting vein and fracture hosted disseminated sulphide mineralisation comprising up to 20% pyrite and 10% sphalerite.
This mineralisation is typical of the high-grade Magnata Fault hosted mineralisation. The hole been deepened as it has intersected, and is still drilling through, strongly altered and oxidised intrusives which are logged as being analogous to the intrusives which host broad zones of gold mineralisation elsewhere at Hualilan.
CEL Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
