Clancy Exploration extends Meritilga with gold and silver hits
THE DRILL SERGEANT: Clancy Exploration (ASX: CLY) has received results from reverse circulation (RC) drilling conducted at the company’s 100 per cent-owned Condobolin project in central New South Wales.
Results have now been received from all RC holes Clancy has drilled at the Meritilga and Bluebell prospects in April and May 2013.
The drilling intersected gold and silver intercepts, which Clancy said have extended the Meritilga lode at depth including:
– 10m at 5.78 grams per tonne gold and 26.79 grams per tonne silver from 80 metres, including 4m at 14.16g/t gold and 61.7g/t gilver from 83m; and
– 15m at 2.76g/t gold and 8.78g/t silver from 90m, including 5m at 7.89g/t gold and 22.28g/t silver from 99m.
Drilling also extended the Meritilga lode up-dip intersecting silver and gold within wide mineralised halos of:
– 23m at 0.36g/t gold and 46.15g/t silver from 24m, including 4m at 0.83g/t gold and 226.93g/t silver from 42m; and
– 28m at 0.76g/t gold and 3.99g/t silver from 26m, including 6m at 2.87g/t gold and 15.54g/t silver from 45m.
According to Clancy Exploration managing director Gordon Barnes, the recent assay results have confirmed the existence of a fertile epithermal-style system at the Meritilga prospect.
“The high-grade zone at Meritilga, which we discovered through RC drilling early last year, has been extended up and down dip, as well as along strike,” Barnes said in the company’s announcement to the Australian Securities Exchange.
Meritilga prospect cross-section – High-grade zone. Current
intercepts denoted in blue boxes, 2012 intercepts denoted in red boxes.
Source: Company announcement
“It’s got some variability of gold grade within the zone, which is to be expected in these types of systems, but overall it’s reasonably consistent.
“The strike extent of this lode has been constrained, but it remains open up and down dip.
“This round of drilling has also identified a correlation between gold and molybdenum suggesting we may have a deeper magmatic source for the mineralisation.
“Indications are that there may be another lens at around 130 vertical metres depth and we believe there is potential to define further mineralisation beyond that.”
The latest round of drilling also further tested intercepts Clancy had previously achieved at the Bluebell prospect.
Bluebell is a gold-copper prospect, which the company considered to warrant follow up drilling as it is thought to sit along the same structural trend as the Meritilga prospect.
Drilling at the Bluebell prospect followed intersections from drilling in 2012, which included: 4m at 0.51g/t gold, 1.24 per cent copper, 10.4g/t silver from 105m.
Recent drilling intersected further shoot-style gold and copper, with the addition of silver and molybdenum, not previously seen:
– 1m at 0.41g/t gold, 4.8 per cent copper, 39.7g/t silver and 4.37ppm molybdenum from 100m;
– 1m at 0.35g/t gold, 1.34 per cent copper, 15.95g/t silver and 8.29ppm molybdenum from 81m; and
– 2m at 1.4g/t gold, 0.14 per cent copper, 2.31g/t silver and 3.96ppm molybdenum from 70m.