Gold: Torian strikes more high-grade gold near Kalgoorlie
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Kalgoorlie is arguably Australia’s premier gold town and the region around it has delivered a rich endowment of the precious metal over the course of the country’s longest-running gold rush, which shows no sign of stopping anytime soon.
Torian Resources’ (ASX:TNR) latest drilling results certainly lend credence to the belief that there is still more gold to be found in the region with top assays of up to 46 grams per tonne (g/t) gold at its Credo Well project.
This hit was located within a thicker 3m zone grading 15.8g/t gold from 48m in the Main Zone of mineralisation and is part of a drilling program to infill historical drilling that returned intersections of 3m at 16.46g/t gold from 54m, 1m at 58.8g/t gold from 1m and 8m at 10.47g/t gold from 61m.
Results above 5g/t gold are generally considered to be high-grade.
Over the next two months, the company plans to carry out further interpretation of current and historical drilling, conduct geological studies and plan additional drilling to determine the extent of mineralisation.
Torian’s belief in Credo Well is clearly shared by Dampier Gold (ASX:DAU), which is earning up to 50 per cent in the project by spending $2m on exploration over a four-year period.
Meanwhile, Apollo Consolidated (ASX:AOP) has reported some interesting numbers from its ongoing delineation drilling program at the Lake Rebecca project about 145km east of Kalgoorlie.
Highlights from the program include 40m at 5.06g/t gold, 8m at 6.54g/t gold, 9m at 10.58g/t gold and 19m at 5.9g/t gold in the southern portion of the high-grade Jennifer Lode.
Exploration drilling elsewhere along the 1.7km-long Rebecca mineralised corridor returned hits including 17m at 2.56g/t gold and 7m at 2.86g/t gold.
The company said that its 2019 drilling campaign had shown that the project contained a substantial endowment of lower grade disseminated sulphide material, particularly at Rebecca and Duchess where multiple stacked sheets had recently emerged.
This is expected to become a significant volume component in future resource calculations.
Shallow exploration drilling will now move into a 4km-long structural corridor between the Rebecca and Duchess prospects as well as scoping out the Duke, Duchess and Cleo prospect areas.
Spectrum Metals (ASX:SPX) has extended gold mineralisation at the Penny North and Magenta prospects within its Penny West project in Western Australia. Top results include 2m at 26.7g/t gold and 2.87m at 14.7g/t gold.
Over in Côte d’Ivoire, West Africa, Mako Gold (ASX:MKG) has intersected multiple wide zones of gold mineralisation with a top intersection of 8m at 6.46g/t gold within the Tchaga Napié project. The company is earning up to 75 per cent in the project from Perseus Mining (ASX:PRU).