Red Mountain mapping out more Maitland South gold drilling
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Special Report: Planning is underway for the second phase of drilling at Red Mountain’s exciting Maitland South prospect where high-grade gold has been intersected.
This comes after the receipt of final assays from the November 2020 reverse circulation drilling a with the first holes ever drilled at the Second Chance South prospect returning hits such as 4m at 1.28 grams per tonne (g/t) gold from just 4m and 1m at 1.41g/t gold from 57m.
Red Mountain Mining (ASX:RMX) says the planned second phase drilling of 20 holes totalling about 2,000m at Maitland South is expected to kick off in March 2021 once all necessary clearances and approvals have been granted and drill contractors organised.
The drilling will assess the continuity of the high grade mineralisation both along strike and down dip of existing intercepts while testing the entire 500m length of the Maitland South shear zone.
It is not surprising that the company has chosen to focus on Maitland South given that first phase drilling had returned shallow high-grade intersections of 1m at 12.7 grams per tonne (g/t) gold from a depth of 37m and 1m at 7.1g/t gold from 110m within broader intersections of 7m at 3.3g/t gold from 34m and 8m at 1.7g/t gold from 107m.
Red Mountain’s drilling adds to historical drilling results such as 13m at 2.53g/t gold from 9m including 6m at 6.6g/t gold from 13m that together demonstrate the thickness of the Maitland South Shear Zone and a high grade component to the zone.
This is a strong indication of its potential to host an economic gold deposit.
There is also potential to find more mineralisation as the prospect remains open at depth with mineralised structures remaining open and untested to the north and south of the current drilling footprint.
Besides the historical holes, Maitland South also hosts numerous historical workings and shafts.
The 62 sqkm Mt Maitland project stretches out over 19km of highly prospective Archean greenstone belts that have the potential to host more high-grade shear-hosted gold deposits.
It produced gold at a lofty average grade of 19.3g/t gold in the early 1900s.
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.