Cavalier proves scale potential with new gold corridor mineralisation target at Crawford
Cavalier Resources has uncovered a new mineralised corridor target to the north of the existing resource at its Crawford gold project in the hot Leonora district of Western Australia.
Cavalier Resources (ASX:CVR) is fast proving up the potential for yet another resource upgrade at the Crawford gold project with a second round of drilling providing strong evidence of a northern mineralised corridor target, stretching over 500m between the existing resource and the recently discovered Miranda prospect.
The latest results from 2,381m of drilling to test the recently discovered northern Miranda target and southern sub-vertical structures returned significant intercepts of 11m at 2.85 grams per tonne (g/t) gold from 71m, including 2m at 5.12g/t from 71m and 1m at 8.64g/t from 81m.
This was accompanied by additional notable hits of 7m at 1.35g/t from 51m, including 1m at 3.16g/t from 56m; 5m at 1.08g/t from 77m, including 1m at 3.07g/t from 81m; and 1m at 1.35g/t from 93m.
Executive technical director Daniel Tuffin said the assay results from the near-resource holes at Crawford were promising.
“This latest round of drilling continues to strengthen the likelihood of further strike extensions to the current resource, with the new northern corridor and the southeast resource areas being of particular interest,” he said.
“In the north, further significant fresh-rock intercepts between the resource and the Miranda target suggest a deeper new mineralised corridor target of over 500m that bears resemblance to the recently discovered sub-vertical structure located at the southern end of the resource area.”
The significance of this, according to Tuffin, is that a large portion of the current resource consists of gold-enriched shallow oxides (supergene material).
These new deeper mineralised structures, that appear at around 70m deep and are up to 11m thick, may have played a part in the creation and control of that main supergene area.
“Importantly, both (northern and southern) fresh-rock structures remain open along strike and at depth, indicating further potential to increase the size of the resource,” Tuffin said.
In May, Cavalier completed targeted drone magnetics and a second drilling program in its bid to significantly grow the existing resource.
The company boosted the resource late last year by 17%, taking its gold inventory so far to 3.8 million tonnes at 1g/t for 117,800oz.
One of the key findings of the metallurgical test work is that the mineralised oxide portion of the resource appears to be very fine and may only require minimal crushing.
This is good news for Cavalier because it suggests the potential for cost efficiencies and streamlined processing.
All the work completed so far is part of Cavalier’s plan to advance Crawford towards mining studies.
This story was developed in collaboration with Cavalier Resources, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.