Hello Friends, Shareholders and Investors,
I hope that you had a good break over the Christmas / New Year period - a safe one, an enjoyable and relaxing one, and with family and friends.
Today we released our first ASX Announcement for 2022 - some early but very encouraging drill hole results from our 2 drill rig attack at the Morning Star gold mine.
For those less familiar with narrow vein high-grade nuggetty underground gold, the three basic things we search for are:- Structure. The geology has to be conducive to allowing faults to occur and for gold-bearing fluids to penetrate, normally in the form of quartz and sulphides.
- Gold. Seems obvious, but a favorable geological structure does not necessarily guarantee gold mineralization. We have some great early gold grades here - up to 30 g/t (1 ounce per tonne in the old language), and
- Width. The favourable geological structure, hosting gold mineralisation, does need to be of sufficient width to ensure there is enough contained gold within to be economic to mine. In a high-grade gold environment, anything over 0.5 metres wide is OK.
What is pleasing about these early results is that we have the 1st two criteria - multiple structures and great gold grades. The trick now is to locate where these structures are of decent width.
A key conclusion from this early drilling is that:- Preliminary interpretations suggest over eight reefs with the potential for economic mineralisation extend across the Dickenson South target area, with the first ring of 6 drill holes intersecting 26 reef positions with greater than 1g/t gold, used as an indicator for a reef position of interest.
and- At least two new reef structures have been identified with a complex array of structures linking the Dickenson, Shamrock, Exhibition and Whitelaw Reefs suggesting the potential for numerous favourable structural positions not defined by historical work.
Drilling also continues underground testing the Gap Zone. This is still early days given the Zone is 600 metres long, about 60 metres wide and 200 metres deep, and we are only some 20% into the first pass drilling here. |
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