ASE have a tease initial result from Leichhardt East drilling -...

ASE have a tease initial result from Leichhardt East drilling - something is there and just have to do some more drilling.

"
Interpretation
While the Company is yet to undertake assay work and bulk density measurements, the rocks intersected
in LE002 do not appear to be sufficiently dense to explain the modelled gravity response, despite having
drill tested a significant portion of the modelled gravity anomaly (Figure 1).
Taking into account the geochemical anomalism observed in the first hole, the fact that the only dense
lithologies intersected to date have been ironstones, and the increased instance of shear zones and
breccias observed in this hole, the Company has drawn the following early conclusions:
1.
As the rocks intersected in this hole and the first hole are insufficiently dense to explain the
modelled gravity anomaly, the Leichhardt East prospect remains prospective for an IOCG
discovery, and that this will require further exploration drilling.
2. A strong degree of faulting and shearing has been observed in both holes drilled to date. The
gravity anomaly may be explained from a contrast between un-mineralised country rocks and
ironstone juxtaposed by faulting/shearing.
3. The only basement rock-type with a density approaching that of the modelled anomaly is the
ironstones, some of which have been mineralised with respect to sulphide minerals, however
there have only been relatively thin slivers of ironstone intersected in drilling to date, which is not
sufficient to explain the anomaly.
4. Therefore, the most likely cause of the modelled anomaly is a greater concentration of ironstone
in the vicinity that remains to be located.
5. Ironstones host IOCG-style mineralisation in outrcropping rocks of the Warramunga Formation
at Tennant Creek, located approximately 170km west of the Leichhardt East area. The host rocks
at Leichhardt East are interpreted to be equivalent to the Warramunga Formation, and as such
remain prospective for an IOCG discovery.
Given the above, the Company considers that Leichhardt East remains a highly prospective target that
possesses numerous IOCG characteristics, and further work is warranted. "


now this is on trend and just to the east of Farwena Fable - [it is the adjoining permit] - where visible copper was found in exposed granites during the unscheduled helicopter landing all those years ago. Last year when ICG drilled Alpaca Hill, they made an access track to Fable to enable future ground exploration. [I was critical at the time of spending $$ on the track when nothing planned to be done there in foreseeable timeline]

Cheers