Red Mountain is testing for gold at Maitland South
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Red Mountain has started diamond drilling at the Maitland South prospect after the hole testing the Jacia target intersected encouraging base metal and gold indications.
Occurrences of chalcopyrite (copper), sphalerite (zinc) and galea (lead) minerals associated with quartz veining were noted during logging the hole that tested the Jacia induced polarisation chargeability target.
The presence of such minerals within veining indicates that the Jacia Trend could host a base metals deposit and thus warrants further investigation.
Red Mountain Mining (ASX:RMX) adds that two zones of banded iron formation and amphibolite, which are prospective for gold mineralisation at the Maitland project, were also intersected during drilling and will be assayed.
The chargeability anomaly is associated with a combination of disseminated pyrite within the fault zone and the sulphide-magnetite bearing banded iron formations.
Petrophysical work be undertaken on these zones as well as other units to fully ascertain the source of the geophysical anomaly
The company has now started diamond drilling at the Maitland South prospect that will test an IP chargeability anomaly.
A single hole will be drilled to a depth of about 420m to test the core of the anomaly that coincides with the down dip extension of the mineralised shear zone.
Maintland South is a +500m long shear zone characterised by numerous historical workings with shallow reverse circulation drilling returning results such as 7m at 3.3 grams per tonne (g/t) gold and 13m at 2.53g/t gold from 9m.
Drilling is expected to take about 14 days to complete with observations released upon completion.
This article was developed in collaboration with Red Mountain Mining, 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.