Critical Resources’ first Halls Peak hole hits more massive sulphides
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Critical Resources’ (ASX:CRR) first hole at the Gibsons prospect within its Halls Peak project has uncovered more mineralisation, including visual massive sulphides.
Less than a week after the company reported its first drill hole intersected big chunks of massive sulphide mineralisation within its first 20m, the hole has intersected a further 8.54m interval of variable mineralisation, including massive sulphides beds, from a depth of 95.3m
This follows on the same hole intersecting separate intervals of 3.8m, 1m and 0.85m in the first 20m intersected on the very first day of drilling.
Drilling of hole CRR21DD_01 has now been completed to a planned depth of 141.6m and the rig repositioned to drill the CRR21DD_05 and CRR21DDD_06 holes to a depth of 85m and 105m respectively.
Both holes are designed to further test the Barkers lode where previous high grade mineralisation has been encountered.
“Further massive sulphide mineralisation in our first drill hole at Gibsons is an excellent result and starts our drill program very positively,” managing director Alex Biggs said.
“We are at the start of what we believe will be a transformational drill campaign for the company and the Halls Peak asset.
“The scale potential of Halls Peak is something we need to demonstrate and we will be completing deeper drill holes later in the campaign to test this theory.”
Critical Resources noted that the new 8.54m interval of mineralisation includes beds of massive sulphides up to 1.24m in downhole length, proving that the massive sulphide accumulation extends from surface to 100m downhole.
Importantly, it proves considerable scope to discover further massive sulphides relatively close to surface.
Planned deeper holes will test the vertical extent of the Halls Peak massive sulphide system.
Massive sulphide deposits tend to occur in stacked clusters of several deposits and areas subjected to mature exploration have the potential to contain large deposits.
With this in mind, Halls Peak is highly prospective as it has not been subjected to a focused, large-scale exploration program despite deposits at the project being mined since 1896 and recent drilling returning high-grade intercepts.
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.