Signature Metals intersects along Ashanti Shear Zone
THE DRILL SERGEANT: Australian-based minerals exploration company Signature Metals has received initial Aircore drilling results from the Kyekyewere prospect at the Konongo gold project in Ghana.
The Kyekyewere prospect is located along the Ashanti Shear Zone, which hosts significant gold deposits elsewhere in Ghana.
Aircore drilling at the Kyekyewere prospect provided a near-surface test of gold anomalies in historical soil sampling along a 3 kilometre section of the Ashanti Shear Zone.
Best results from the drilling include:
– 19 metres at 1.11 g/t gold from surface;
– 17m at 0.47 g/t gold from 21m;
– 14m at 0.47 g/t gold from 12m, including 6m at 0.92g/t gold; and
– 10m at 0.46 g/t gold from 8m.
The drill program consisted of 99 holes for 3,949m with an average depth of 40m.
“The majority of the significant intersections lie on or near the interpreted location of the Ashanti Shear Zone, demonstrating that this system is mineralised within the project area,” Signature Metals said in its ASX announcement.
“Due to the wide spaced nature of the drilling (between 500 meters – 1000 metres) these results should be considered “first pass” and the company is very encouraged at the tenor of results received, especially the number of intersections with widths over five metres.”
Signature Metals is confident these drilling results have identified key areas for it to carry out follow up drilling.
This will include infill drilling to provide a more comprehensive test of the system around the better results and drilling to test the strike extents of mineralisation, which is currently open along strike to the south and north.
Testing of other gold in soil anomalies along the interpreted location of the Ashanti Shear Zone is also planned.
“While no “bonanza” grade intersections were returned from this drill program, high-grade quartz veins are characteristic of Obuasi-style deposits and the presence of quartz veining associated with mineralised intervals provides encouragement that there may be a vein-hosted component to mineralisation in this prospect,” Signature Metals said.
“Evidence of shearing was noted in the logging of these drill holes confirming that the Ashanti Shear was intersected in the drill program.
“Despite the potential of this system to host significant mineralisation only limited work has been done to test the Ashanti Shear Zone within the Konongo gold project.
“The main mineralisation delineated to date, including the current JORC resources of 1.47 million ounces, are hosted on or adjacent to the Birimian –Tarkwaian contact which parallels the Ashanti Shear Zone.”
The company said it is still waiting on aircore drilling results from the Boabedroo West prospect as well as from RC drilling at Kwakawkaw and Kyereben.