This passage appears to be a technical summary of drilling results and updates related to a gold exploration project, possibly for an ASX (Australian Securities Exchange) announcement. The text describes the significant intercepts and resampling of previously drilled holes at the Wagyu Gold Project, focusing on Phase 1 and Phase 2 drilling data. I'll break down the key points and the context in which they are provided: 1. Overview of Tables and Figures:
Table 1: Shows the updated significant intercepts as per the 1 October announcement.
Table 3: Provides updated mineralised intercepts from Phase 1 drilling.
Appendix 1: Includes additional details such as the location of drillholes (Table 1.1) and updated intercept data (Table 1.2).
Figures 3 and 4: Illustrate the updated maximum gold values for Phase 1 drillholes and the collar locations of Phase 2 drillholes (assays pending). These figures likely show spatial data for gold concentrations and drillhole positioning.
2. Significant Gold Intercepts:
The passage emphasizes that the updated results show the identification of significant gold intercepts, including a notable result of:
1m @ 2.21g/t Au from resampling a previously identified 3m @ 0.48g/t Au in composite samples.
A more defined intercept in drillhole 24WA054:
Previously recorded as 4m @ 0.93g/t Aufrom 12m depth.
After resampling, it is updated to 2m @ 1.55g/t Au from 13m depth.
These results indicate that resampling and assaying of individual one-metre samples (as opposed to composite samples) have led to more significant and higher-grade gold intercepts.
3. Increased Mineralised Intercepts:
Resampling and assaying have increased the number of mineralised gold intercepts, especially at Target 1, suggesting that this area is particularly prospective. This is supported by:
The fact that multiple drillholes at Target 1 have encountered mineralisation in Phase 2.
The updated data for Phase 1 and Phase 2 drillholes, particularly around gravity target 1, which likely refers to a geophysical anomaly that indicates potential gold mineralisation.
4. Phase 2 Drilling:
Pending assay results for Phase 2 drillholes are mentioned, indicating that further data is awaited to confirm the continuation of mineralisation. These results will be crucial to the overall understanding of the project's potential.
5. Compliance with ASX Listing Rules:
The report adheres to Chapter 5.7.2 of the ASX Listing Rules, which governs the reporting of exploration results, including the location of drillholes with updated mineralised intercepts. This compliance ensures that the information presented is in line with regulatory requirements.
6. Gold Intercept Definitions:
The passage defines a mineralised sample as one that contains gold grades greater than 0.1g/t Au over a metre or longer. This definition is likely part of the company's standard protocol for reporting mineralised intercepts, and the appendices (Appendix 2: JORC Table 1) provide further details on how these intercepts are classified.
7. Methodology and Analytical Techniques:
The text briefly mentions the different analytical methods used for assaying:
Aqua regia (a strong acid mixture) is used for composite samples.
Fire Assay and 4-Acid Digest methods are used for single-metre resamples. These are common methods for gold assaying due to their precision and accuracy.
The 1 October ASX announcement includes the full suite of analytical elements, detection limits, and confidence levels for the various assaying methods.
Conclusion:
The passage provides a detailed summary of updated drilling results and the implications for the Wagyu Gold Project. The resampling of earlier drillhole composites has resulted in higher-grade gold intercepts, particularly at Target 1, which enhances the project's prospects. The forthcoming Phase 2 assay results will be key to confirming the extent of the mineralisation. Additionally, the company appears to be in compliance with ASX listing requirements, ensuring transparency and regulatory adherence.
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