DeSoto is yearning to spin the drill bit at its Fenton gold project
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DeSoto is looking forward to starting maiden drilling at its Fenton gold project in the Northern Territory after completing ground geophysical surveys and regional reconnaissance work.
Preliminary data from the 16.3km of induced polarisation and 32.8km of fixed loop electromagnetic work has resulted in the identification of several strong geophysical targets with detailed processing and modelling in progress to define drill targets.
Meanwhile, DeSoto Resources’ (ASX:DES) regional programs collected quartz vein rock samples from the Barrapool prospect, which has historical high-grade coarse gold pan concentrate stream results up to 257 grams per tonne (g/t) gold, and both rock and soil samples at Copperfields to follow-up on initial results of up to 4.1g/t gold and 6.5% copper.
Diamond drilling is expected to begin in mid-August.
The Fenton project is an under-cover, structurally complex Palaeoproterozoic hosted gold target zone that extends along strike for 20km with a width of 4km on the western edge of the Pine Creek inlier.
Previous exploration by Homestake Gold (now Barrick Gold) in the mid-1990s identified the project as a potential candidate in its search for deposits analogous to the +40Moz Lead gold deposit in South Dakota due to its similarities with the host rocks and structure found at Lead.
Subsequent drilling by Homestake returned intercepts such as 55m at 0.89g/t gold including 20m at 1.74g/t gold and 17m at 0.71g/t gold including 8m at 1.27g/t gold.
Observations on historical drill cores demonstrate the correlation of elevated gold intervals with intensely sheared pyrrhotite rich zones, confirming the potential to host gold mineralisation along a significant shear zone.
Target ore zones are predicted to have a high conductivity response to EM surveys along with a high resistivity/chargeability response to IP surveying.
DeSoto also noted that the shear zone is comparable in scale to the nearby Pine Creek shear zone where some 17Moz of gold has been defined.
This article was developed in collaboration with DeSoto 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.