ACDC Metals Hits High-Grade Heavy Mineral Sands at Goschen Central Project
THE DRILL SERGEANT: ACDC Metals (ASX: ADC) released the first drilling results achieved from Phase 1 aircore drilling at the company’s Goschen Central heavy mineral sand (HMS) and rare earth element (REE) project in the Murray Basin of western Victoria.
ACDC Metals received assays received from the initial 75 drill holes at the Goschen Central project that produced high-grade intervals of greater than 10 per cent total heavy minerals (THM) with 29 per cent of all holes returning intervals greater than 5 per cent THM at 1% cut-off.
Drilling has extended mineralisation over a strike length of more than 10 kilometres.
Intercepts include:
22GC0017
4 metres at 10.91 per cent THM from 33m within 14m at 4.48 per cent THM from 26m;
23AC043
4.5m at 10.37 per cent THM from 31.5m within 12m at 5.52 per cent THM from 24m;
23AC044
4.5m at 8.47 per cent THM from 25.5m within 15m at 4.72 per cent THM from 19.5m; and
23AC047
6m at 8.44 per cent THM from 28.5m within 19.5m at 3.02 per cent THM from 19.5m.
ACDC has already completed a second phase of grid based aircore drilling guided by field logging of phase one drill samples.
The company explained the phase two drilling targeted a zone interpreted to be a prospective higher-grade part of the Goschen Central project.
The results from the Phase 2 drilling are currently being assayed.
Both sets of results are to be incorporated into an upcoming Mineral Resource Estimate expected to be released in the September quarter.
“As we anticipated, this first set of drilling assays confirm high-grade heavy mineral sand mineralisation at the Goschen Central project and are extremely positive for the project,” ACDC Metals CEO Tom Davidson said in the company’s ASX announcement.
“We are very encouraged by mineralisation observed, and particularly by a contiguous high-grade domain.
“These results place ACDC Metals in a strong position to advance a maiden mineral resource.
“Mineral assessment to identify the valuable heavy mineral distribution (zircon, rutile, ilmenite, monazite) is well progressed, postively we have a good understanding of probable ratios based on the reported resources of VHM Ltd and Iluka Resources Ltd to the north and south respectively.
“We look forward to the targeted infill drilling results, as we work towards our maiden mineral resources in Q3”.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
