4 gold-silver explorers successfully spinning the drill bit
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Southern Gold (ASX:SAU) has hit grades up to 107.5 grams per tonne (g/t) gold in maiden drilling at the greenfields (unexplored) Aphae project in South Korea.
“There is a lot going on geologically at Aphae and triple figure gold grades in drill core from a maiden greenfields drill program certainly grabs your attention,” Southern Gold managing director Simon Mitchell says.
“With high-grade gold and silver, elevated lead, zinc, copper and arsenic, and the fact we appear to have several phases of mineralisation, indicate a fertile system, potentially with more surprises to come.
“Our technical team see a lot of potential at Aphae and it reinforces the theory that south-western South Korea is an unfolding gold camp of regional scale.”
Drilling has hit significant gold mineralisation outside the known deposits at Kin Mining’s (ASX:KIN) 945,000oz Cardinia gold project in WA.
Kin returned particularly strong and shallow results at the Hobby prospect, including 5m at 3.72g/t from 74m, 13m at 1.30g/t from 46m, and 6m at 2.41g/t from 22m.
These intercepts are all outside of the existing 8,000oz resource, with shallow mineralisation at Hobby now defined over a strike length of 500m and counting.
“Our strategic focus is to find new areas outside of the known deposits capable of delivering shallow resources at good grade, and Hobby certainly ticks every box in that respect,” Kin managing director Andrew Munckton says.
“We have intersected consistent high-grade mineralisation (up to 5.64g/t) over a 500m strike length, with the mineralisation remaining open to the south.
“Drilling has also hit a new parallel zone to the west which requires further investigation.”
Dreadnought Resources (ASX:DRE) is hitting shallow, thick gold at the Rocky Dam project, 45km east of Kalgoorlie.
A recent drilling program at the CRA-North prospect included 5m at 3.3g/t gold inside a larger 20m intersection grading 1.1g/t, 40m from surface.
All 10 drill holes returned oxide gold mineralisation, Dreadnought says, but the orientation of the bed rock lode remains elusive “and requires greater structural understanding”.
“The thick shallow oxide mineralisation, combined with ~300m of strike and proximity to Kalgoorlie, continues to make CRA-North an attractive target,” managing director Dean Tuck says.
“In the short term, we will increase our structural understanding of CRA-North ahead of future drilling planned for the December 2020 quarter.”
Gold-silver play Manuka Resources (ASX:MKR) – which has only traded on the ASX for just under a month – will kick off a 9,000m drilling campaign at the historic Wonawinta silver project in late August.
This will allow for detailed resource modelling and mine planning, says Manuka, which is already producing gold from its nearby Mt Boppy mine.
Manuka intends to return it to the production of silver doré at Wonawinta in mid-2021, following the completion of mining at Mt Boppy.