GTI hits gold, grows landholding at Niagara
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GTI Resources has reported elevated gold results from reverse circulation drilling at its Niagara gold project in WA, while also expanding its regional footprint.
GTI (ASX:GTR) drilled 16 holes at Niagara for a total depth of 2376m, intersecting gold anomalism in several holes and identifying a new target courtesy of a rock chip assay which sampled 2.4 grams per tonne gold in a demagnetised zone.
Drilling intersected elevated gold values and anomalism of up to 0.98g/t.
GTI said the results from RC drilling assisted in refining the overall exploration model at Niagara and allowed for the interpretation of several anomalous gold structures.
The program targeted significant gold anomalies identified by previous soil sampling programs and confirmed during aircore drilling last September.
On top of the exploration results, GTI announced it had been granted four new prospecting licences in the region.
The addition of the licences creates a significantly enlarged consolidated holding of circa 5kms strike over extensive historic mine workings in the Niagara gold district, incorporating the historic White Cross and Perseverance mining areas and smaller historic working trends including the Christmas and Good Friday trends.
The Orion trend, which extends east-north-east to the south of the tenement holdings, hosts the historic Orion/Sapphire mine.
GTI executive director Bruce Lane said the addition of the tenements was a boost for the company’s exploration efforts in the region.
“The newly consolidated land package at Niagara, immediately west of our current exploration licence, offers exciting potential to properly test this historically heavily worked area using modern exploration techniques,” he said.
A number of historical workings exist within and to the north of the Niagara project area, with a number of major mines located in the immediate vicinity of Kookynie.
This includes Cosmopolitan Proprietary Ltd, which mined a total of around 630,000 tonnes of ore at an average grade of 15g/t between 1897 and 1911, producing in excess of 300,000 ounces.
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.