GTI Resources follows mineral clues in Niagara drilling
Special Report: GTI Resources has kicked off reverse circulation drilling at its Niagara gold project in WA, with 16 new holes to be guided by multiple mineral clues.
Each hole drilled in the program will cover an average depth of 150m per hole for a total of around 2400m, GTI Resources (ASX:GTR) said, and follows a previously successful aircore campaign which in October returned assays of up to 2.78 grams per tonne gold.
That campaign returned assay results for a further 48 minerals which has helped to define targets for the current round of drilling and an overall exploration model.
The company’s evaluation and interpretation of the site’s geochemistry suggests that gold mineralisation is potentially linked to anomalous (low grade) levels of bismuth, tungsten and tellurium.
That understanding, along with other multi-element geochemistry, has been used to help refine the exploration model at the project.
GTI’s geochemical assessment of Niagara found that the project area is hosted by mafic intrusions, volcanic rocks and volcaniclastics – broken fragments of volcanic rocks – with minor felsic meta-sediments and intrusive rocks.
The current round of drilling at Niagara is expected to be finished by December 24, with assay results anticipated by February next year.
The latest round of drilling caps a busy few months at Niagara for GTI.
The company completed aeromagnetics over the project in July, before securing a five-year extension on its exploration rights over the project later that month and picking up three more prospecting licences in the region in August.
GTI’s land package in the Eastern Goldfields covers about 5km of the historical Niagara gold trend, and is close to the promising Kookynie gold project where exceptional drilling results have given 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 very 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.