Bubalus defines gold-antimony in maiden Crosbie South drilling

• Maiden drilling at Crosbie South defines broad zones of gold and antimony
• Results demonstrate the presence of a high-grade mineralised system, open at depth and along strike
• Plans underway for further drilling

Special report: High-grade gold and antimony have been intersected during Bubalus Resources’ first drilling at Crosbie South prospect in Victoria along a 700m corridor marked by gold in surface samples and adjacent geophysical anomalies. 

The 5-hole diamond drilling campaign identified gold mineralisation in all holes, hosted in quartz vein sets within an altered granite host.

High-grade mineralisation was identified across mostly narrow intervals associated with quartz veins and often sulphides, with better results including:

• 1.1m at 9.43g/t gold and 11.1g/t silver from 100.8m, including 0.2m at 50g/t Au, 55.1g/t Ag and 1.04% bismuth from 100.8m; and
• 6.6m at 0.4g/t Au and 1839ppm antimony from 40.6m, including 1.2m at 0.98g/t Au and 3080ppm Sb from 46m.

Crosbie South is an intrusion related gold system (IRGS) target within the Crosbie project and is defined by surface geological mapping, high-grade surface samples (up to 19.1g/t gold and 1.1% antimony) and geophysical (IP) anomalies.

Bubalus Resources (ASX:BUS) believes drilling has confirmed the geological interpretation and target type, with mineralisation intersected over a strike length of ~220m, exhibiting gold mineralisation associated with antimony, silver, bismuth, molybdenum and tungsten.

Background on Crosbie

The Crosbie licence sits within the heart of the Victorian Goldfields, covering 21.5km2 within 20km of the operating Fosterville gold mine owned by Angico Eagle and the Costerfield gold-antimony mine owned by Mandalay Resources.

Following the encouraging results from surface sampling, two induced polarisation surveys were conducted across the landholding focusing on Crosbie South and the Prince Foote trend.

Analysis by Mitre Geophysics identified coherent chargeability anomalies from surface to depths of more than 360m, coincident with gold in surface samples.

Four chargeable and resistive features were later outlined during 3D inversion modelling, indicating a potentially large intrusive body is present.

More from BUS: Bubalus steps up gold and antimony hunt

What’s next?

Bubalus is undertaking additional activities over the Crosbie South prospect designed to refine targets for additional drilling.

These include further analysis of unassayed core from drilling on sections of core adjacent to mineralised zones, that may have been initially overlooked.

A review, and potential remodelling, of the IP geophysical survey data in the context of the drilling results will also be carried out.

The explorer also plans to undertake specialist geochemical modelling of the drilling results to assist in vectoring to potentially thicker and/or higher grades of mineralisation within the identified system.

These activities may lead to more drilling as part of the planned program at the adjacent Crosbie North Fosterville-type targets, expected in late Q3.

This article was developed in collaboration with Bubalus Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.