GTI Resources uncovers five new gold targets at Niagara project
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Special Report: GTI is wasting no time in moving to drill its Niagara gold project after identifying another five gold anomalies during soil sampling.
GTI Resources (ASX:GTR) has started a 2500m, 60-hole aircore drilling program at the Niagara gold project near Kookynie in Western Australia.
The company has uncovered several significant new drill targets at Niagara following a much bigger soil sampling program.
Niagara is about 6km southwest of Kookynie in the central part of the prolific Norseman-Wiluna greenstone belt with numerous historical workings and mines within and to the north and south of the project area.
These workings include a number of historical shafts and shallow workings which were mined during the late 1890s and early 1900s.
Results such as 4m at 16.3 grams per tonne (g/t) gold from 42m, including 3m at 20.7g/t gold from a depth of 42m, well above the 5g/t that is generally considered to be high-grade, demonstrate the rich prospectivity of the region.
GTI’s extensive soil sampling at Niagara identified a 500m long by 100m wide anomaly in the northeastern corner of the licence and two 500m long by 100m wide anomalies that follow the northeast to southwest oriented magnetic high from the northeastern corner.
A broad zone of anomalous gold and copper with a peak of 1,360 parts per billion (ppb) gold was also identified in the southern part of the soil sampling area.
And several additional outlying areas are highly anomalous with peak gold above 50 ppb.
GTI says these isolated anomalies require further work to refine the context and potential source of anomalism.
The three previously identified gold anomalies have been expanded and current aircore drill
targets have been refined to include the new larger continuous areas of anomalism.
GTI’s current Aircore program has to date delivered 15 holes that terminated at relatively shallow basement depths.
The company plans to drill additional infill holes within the 60 hole program to ensure adequate depth‐testing and coverage of geochemical anomalies.
GTI expects to complete the current program by early October and results to come in by late October.
Once results are in from the first round of drilling, the company plans to start a reverse circulation drilling program to test the bedrock targets.
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.