Sirius scores gold multiple gold hits at Polar Bear
THE DRILL SERGEANT: Sirius Resources has claimed discovery of high-grade gold mineralisation in its first reverse circulation (RC) drilling program undertaken at the Earlobe prospect on the company’s 100 per cent-owned Polar Bear project in Western Australia.
Sirius said it had intersected gold mineralisation in a number of RC holes drilled beneath earlier shallow reconnaissance drill intersections carried out in in November 2011.
Earlobe prospect, showing location of drillholes and gold
intersections in recent aircore and RC drilling. Source: Company
announcement
Key intercepts and highlights of the recent drilling include:
20 metres at 3.18 grams per tonne gold from 36 metres, including 2 metres at 26.6 grams per tonne gold from 36 metres; and
19m at 1.56 g/t gold from 46m, including 4m at 6.09 g/t gold from 50 metres.
The drilling also encountered a two metre zone exhibiting variable gold in repeat assays (1.4, 5.04 and 24.9 g/t gold from 82m), which the company said suggests nuggety gold could be present.
Sirius is of the opinion the distribution of the gold intersections on two lines of drilling at the Earlobe North zone suggests there are several gently to moderately east dipping lodes open down dip (to the east) and along strike of the drilling it has completed so far.
The company has taken encouragement from these results, as they are the first gold-focused RC drilling program to be conducted at Polar Bear and that the project is located between three major known goldfields.
The project neighbours the 10 million ounce Norseman camp 30 kilometres to the south, the 8 million ounce St Ives camp 60km to the north and the 2 million ounce Higginsville gold mine 20km to the north-northwest.
“It is very encouraging to make this discovery – it vindicates our belief in the Polar Bear project – a belief which led us in 2010 to purchase Barrick’s 80 per cent interest in the project to obtain full ownership,” Sirius Resources managing director Mark Bennett said in the company’s announcement to the Australian Securities Exchange.
“To achieve such results in the first RC drilling program, and also beneath transported sediments and unconformable Tertiary rocks, attests to the untapped prospectivity of the area, despite it being in the heartland of the Eastern Goldfields.”
Sirius said it intends to carry out follow up RC drilling to scope out the extent, orientation and continuity of the mineralisation once a drill rig can be sourced and drilling approvals obtained.