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Gold: Golden Mile’s Leonora drilling proves fruitful

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Golden Mile Resources (ASX:G88) has hit gold at its Leonora East project in Western Australia’s northeastern Goldfields region and plans to carry out further drilling to assess potential extensions and test for primary gold mineralisation at depth.

Shallow aircore drilling to test gold anomalies on the Monarch trend intersected gold at the Wildcat and Royal Harry prospects with a top hit of 4m at 3.79 grams per tonne (g/t) gold from a depth of 8m.

The drilling was carried out to test previous auger sampling that had outlined gold anomalism over about 11km of strike.

“The results of the drilling indicate that significant gold mineralisation occurs in both of the prospect areas and that surface geochemical methods used by the company have been effective as a targeting tool,” managing director Lachlan Reynolds said.

“At Royal Harry mineralisation has not been constrained to either the north or south so there are clear opportunities for tracing strike extensions to the mineralised structure.

“At the Wildcat prospect, the mineralisation appears to be associated with a structure that has a distinct dip down in the weathering profile. This is very similar to other known mineralised structures elsewhere in the Leonora region and confirms that the company’s exploration model is effective.”

The Monarch gold trend is adjacent to both Kin Mining’s (ASX:KIN) Mertondale project and NTM Gold’s (ASX:NTM) Redcliffe project.

Mertondale has a current contained resource of 383,000 ounces of gold while Redcliffe hosts an estimated 537,862 ounces of gold.

 

In other ASX gold news today:

Argent Minerals (ASX:ARD) will soon carry out an airborne geophysical survey to provide insights into the regional distribution of favourable structures and rock types across its Pine Ridge tenement in New South Wales.

Earlier this year, the company carried out diamond drilling at the historical Pine Ridge gold mine that returned a top hit of 19m at 3.2g/t gold from a depth of 98.4m.

The company will share the mobilisation and associated survey cost for the airborne survey with Silver Mines (ASX:SVL) and Alkane Resources (ASX:ALK).

 

Meanwhile, African Gold (ASX:A1G) has completed the acquisition of Abra Resources, which holds gold projects in the highly prospective and prolific gold producing Kenieba Inlier in western Mali.

Historical shallow drilling over the Sitikali permit, which contains a number of large scale and recent artisanal workings, returned some bonanza hits including 6.6m at 115.5g/t gold and 4m at 28.9g/t gold from a small portion of the permit.

The Walia permit abuts Barrick Gold’s 14-million-ounce Loulo mine and contains a number of high priority drill targets that are immediately along strike of the mine.

Read more:
Precious metals: Finally silver is making an appearance – and a ‘bonanza’ one at that
African Gold says Agboville could host a ‘very large system’

 
Categories: Mining

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