Significant gold assay results from recent geochemical auger soil sampling.
Major extension of the area for proposed future Clampton North RAB drilling. Peak soil gold result 746ppb Au in extensive geochemical anomalies over 4km x 1.5km, north of recent RAB drilling success. The Directors of Polaris Metals NL (ASX: POL, “Polaris”) are pleased to announce significant results from recently completed geochemical auger soil sampling on the Clampton North prospect north of Southern Cross, Western Australia. The geochemical exploration program targeted structural irregularities along the regional-scale shear zone at the western granite- greenstone contact of the Marda Diemals greenstone belt (Clampton Fault - Figure 1).
Exploration of the Clampton North prospect, in particular rotary air blast (RAB) drilling of the “Andromeda” auger soil gold anomaly (recently announced), indicates large-scale gold deposits may exist beneath the lateritic and transported soil cover to the north of the historic Yarbu workings. Polaris is earning 80% interest in the Clampton North prospect, with the remaining 20% held by Cape Lambert Iron Ore Ltd (formerly International Goldfields).
Systematic exploration of the area by Polaris to date has included geological mapping, interpretation of aeromagnetic data to locate favourable structures, several phases of geochemical auger soil sampling and RAB drilling. Previously undiscovered gold mineralisation has been located by the RAB drilling. The latest results of auger soil sampling indicate that gold mineralisation is more widespread than previously thought. Potential new drilling targets are being outlined by the auger sampling with several zones defined as >10ppb Au anomalies within an area 4km x 1.5km. One of the anomalies peaks at 746ppb (0.7g/t Au). The location of the new anomalies is shown on the attached Figure 1 and, in more detail, on Figure 2. Exploration Significance of the Results Regional fault structures at the western margin of the Marda Diemals greenstone belt share similar geological characteristics with regional structures in the other Western Australia greenstone belts where exploration is more advanced, and major gold deposits have been discovered over the last 25 years.
Lateritic regolith sampling under a joint CSIRO/AMIRA geochemical project in the 1980s showed that the Yarbu - Clampton North area stands out as an area of anomalous concentrations of metals, including gold and pathfinder elements such as arsenic and tungsten. Polaris sees considerable potential in the area for discovery of a major gold deposit beneath the extensive soil and laterite cover that characterises the northwestern part of the Marda Diemals belt.
The presence of in situ gold mineralisation beneath soil cover at Clampton North was recently confirmed by RAB drilling, and the latest geochemical results encourage persistence with more drilling.
Future Plans
As recently announced, RAB drilling of the Andromeda auger soil gold anomaly encountered significant new gold mineralisation and added to an understanding of the regolith, geology, mineralisation and alteration in the Clampton North area.
The latest auger soil sampling results have indicated that gold mineralisation is more widespread than previously thought, and have outlined areas for infill geochemical sampling to define new drilling targets.
A follow up program of RAB drilling, planned for commencement in January 2006, will now be extended to cover the new targets. The RAB drilling will be followed by deeper reverse circulation (RC) drilling seeking grade enrichments and primary mineralisation at depth.
Might this be leading up to something company making or just playing in the dirt? I'd like to see these guys pull off a successful hit.
Comments welcome.
Regards, Snake13.
POL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
(20min delay)