Pic: Getty
Mining
Critical Resources is flying today after the first diamond drill hole from its Gibsons prospect delivered a swag of high grade massive sulphide hits.
The most impressive was a 12.45m strike including 10.91% zinc, 5.73% lead, 1.15% copper, 331g/t silver and 1.5g/t gold from 4.65-17.10m downhole.
That interval included a 4.05m section grading an outstanding 19.31% zinc, 10.23% lead, 2.12% copper, 549.78g/t silver and 1.89g/t gold.
Equally impressive for Critical Resources (ASX:CRR) was a super-high grade silver interval including 1.24m at 1750g/t, the equivalent of 56.27oz.
That intersection was particularly promising given it also contained a whopping 22% zinc, 11.85% lead and 3.84% copper, but also because it was located 102.6-103.84m downhole, demonstrating increasing depth potential.
The Halls Peak project 45km south-east of Armidale in New South Wales has been known for its mineral endowment and high grade massive sulphide deposits of zinc ,lead, copper and silver were discovered as far back as 1896.
But the Gibsons hole, which intersected multiple massive sulphide lodes from 4.65m to 103.84m deep has shown deeper potential than previously proven.
The diamond hole assayed is the first of 14 Critical Resources are sinking in a 2,500m program at Gibsons.
Managing director Alex Biggs said the early results justify the significant exploration effort the company is putting into the prospect.
”Exceptional results such as these prove to us that the Halls Peak project is a heavily mineralised system that warrants significant exploration,” he said.
“We are delighted with the first round of assay results from drilling at Gibsons and are excited to continue our work program across the entire Halls Peak project.
“We look forward to keeping the market updated on more exciting results as we begin to unlock the true value of what we feel is a transformational asset for the company and its shareholders.”
A subsequent 3 hole, 1700m program will be launched at the Sunnyside prospect, where near surface mining has been conducted in the past.
More assays are also expected imminently from Gibsons core sent to the ALS laboratory in Brisbane.
Holes have been planned to test the extent of both near surface mineralisation and deeper targets as deep as 500m.
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.
Mining
Mining
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