Gold explorer Iris Metals is having a great start to the week, with its first drill program at the Kookynie project nudging near-surface gold across every single prospect drilled.
Not surprising really, since Kookynie is renowned for its historical high-grade gold production and bonanza gold grades – plus its in the highly prospective Tier-1 mining jurisdiction of Leonora in WA.
Results from the Lily prospect include:
- 8m at 3.9 g/t from 17m, including 1m at 7.6 g/t;
- 5m at 6.1 g/t from 34m, including 1m at 22.7 g/t;
- 5m at 3.0 g/t from 26m, including 1m at 6.7 g/t;
- 6m at 3.7 g/t from 16m, including 1m at 12.4 g/t; and
- 5m at3.3 g/t from 45m, including 1m at 8.3 g/t.
The Big E prospect intersected shallow, high-grade gold including 1m at 18.3 g/t from 9m and 1m at 6.6 g/t from 15m.
While peak intervals from Rise and Shine included:
- 3m at 2.9 g/t from 42m, including 1m at 6.1 g/t;
- 5m at 1.3 g/t from 55m; and
- 5m at 1.0 g/t from 18m.
And the Treasure and Whale prospects returned 1m at 8.2 g/t from 29m and 3m at 3.1 g/t from 27m, including 1m at 5.4 g/t.
Barely scratching the surface
Iris Metals (ASX:IR1) is confident the results support the extremely significant potential of the Kookynie Gold Project.
“To say we have hit the ground running from commencing RC drilling within days of listing, to then report high-grade gold intercepts from all prospects drilled, is an understatement,” exploration manager Andrew Wood said.
“It is extremely encouraging to see high-grade gold drill intercepts returning from a range of lithologies confirming the potential of IRIS Metals’ tenure at Kookynie.”
In the right neighbourhood
Just last month, Carnavale Resources (ASX:CAV) expanded its newly discovered, shallow, high-grade gold lode at its Kookynie McTavish East prospect to 250m strike and up to 150m depth.
“The recent gold discovery by our neighbours at much greater depths than our average reported intercept also builds excitement,” Wood said.
“It highlights the potential of the Kookynie Gold Project to host mineralisation at depth in areas where we have only scratched the surface.”
Follow up exploration plans
Planning is currently underway for a much broader 2022 exploration program, including:
- Follow up work to both expand and enhance the prospects which formed part of the maiden RC drill program;
- Awaiting assays for Aircore program completed in December 2021, with interpretations to follow;
- Rationalize and follow up 21 Aeromagnetic targets as reported on 22 October 2021;
- Further investigation of over 50 MINEDEX mineralization sites within Kookynie project area; and
- A program of surface geochemistry with a view of generating additional drill targets.
This article was developed in collaboration with Iris Metals Limited, 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.