The scale and significance of Critical Resources’ Halls Peak project in New South Wales is continuing to astonish with new drill results hitting the deepest sulphide mineralisation found at the project.

Critical Resources (ASX:CRR) managing director Alex Biggs said the asset is revealing itself to be “potentially transformational” for the ambitious small cap explorer.

Hole 09, the sixth diamond drill hole at the high-grade Gibsons prospect, struck disseminated sulphides as deep as 141m downhole, beyond the bounds of previously known mineralization.

Hits of massive and semi-massive sulphides higher up the hole delivered the strong zinc and lead grades Gibsons is becoming known for, including:

  • 3.6m from 56.2-59.8m at 15.06% zinc, 8.38% lead, 0.69% copper, 37.51g/t silver and 0.09g/t gold, including:
  • 1.6m at 22.51% Zn, 13.21% Pb, 1.04% Cu, 56.28g/t Ag and 0.1g/t Au.
  • 3.5m from 131.05-134.55m at 3.11% Zn, 0.87% Pb, 0.12% Cu, 6.68g/t Ag and 0.03g/t Au, including:
  • 0.7m at 6.61% Zn, 1.82% Pb, 0.2% Cu, 13.5g/t Ag and 0.03g/t Au.

“Hole 09 assays further demonstrate the potential of the Halls Peak system,” Biggs said.

“Results at depth are also very encouraging, providing information in previously unexplored areas of the system that begin to add significant scale potential to the Halls Peak project.

“As the drill program develops we are beginning to develop a clearer thesis on what Halls Peak represents, and see the asset as potentially transformational to the company and its shareholders.”

I’m Steppin’ out

The presence of disseminated base metal sulphides in the interval from 132.6-141.1m shows the potential for massive sulphide lodes to be discovered laterally and at depth beyond known hits.

That demonstrates just how much of Halls Peak remains to be explored despite the New England region projects’ storied history, where mining for high-grade zinc, lead, silver and gold dates back as far as 1896.

Recent results from a downhole EM survey have also identified targets around Hole 09, showing there is potential for sulphide mineralisation up to 100m away at a depth of 55m.

That makes a tasty target to follow up.

Critical Resources has plans afoot for additional holes to target anomalies identified in downhole surveys, with an expanded drill program ongoing.

Assay results are also pending for chalcopyrite mineralisation identified in hole 011a as well as holes 02, 04 and 2A.

Exciting time. And it’s all down hole from here.




This article was developed in collaboration with Critical 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.