GTI drilling firms up gold anomalism at Niagara
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Special Report: GTI’s first pass aircore drilling has confirmed gold anomalism at its Niagara project with assays returning a peak result of 2.78 grams per tonne (g/t).
Drilling intersections with elevated gold assays from the 2,553m program were generally associated with logged intervals of quartz veining in rock chips and the significant north-northeast trending magnetic structures.
GTI Resources (ASX:GTR) is now awaiting results of multi-element geochemistry from the drilling program, which was designed to refine targeting for the upcoming reverse circulation (RC) program.
It plans to kick off the RC program to test exploration targets in December.
Aircore drilling has refined and confirmed several of the geochemistry anomalies within the relatively shallow regolith while some other anomalies are interpreted as the result of surficial scavenging of gold by calcrete and have been scaled down in ranking.
GTI noted that Anomaly B, which includes the top gold intersection, is defined by frequent 1m to 2m intervals of quartz veining from 13m to 40m depth and alteration including silica and pyrite.
Other anomalies such as C, F, G and J are defined by surface anomalism in sub-cropping basement rocks and are scheduled to be drill tested during the RC drilling.
GTI’s land package covers about 5km of the historical Niagara gold trend and is close to the promising Kookynie gold project where exceptional drilling results have been a huge boost to Metalicity (ASX:MCT) and Nex Metals (ASX:NME).
This area contains numerous historical workings on and to the north and south of the project area, including major historical mines like Cosmopolitan, which produced ~300,000 ounces at an average grade of 15g/t gold between 1895 and 1922.
Niagara itself also includes a number of historical mining shafts and shallow workings which were mined during the late 1890s and early 1900s.
However, prior to GTI’s activity, modern exploration was limited to broad-spaced soil sampling and minor reconnaissance drilling programs.
This article was developed in collaboration with GTI 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.