Adelaide Resources identifies new gold target in Queensland

THE DRILL SERGEANT: Adelaide Resources (ASX: ADN) has claimed to have identified a new epithermal gold target, named Bunyip, on the company’s Drummond tenements in Queensland.

The Bunyip target was defined from on-ground prospecting, including rock chip sampling and FPXRF soil geochemistry.

According to Adelaide Resources quartz veins at Bunyip display typical epithermal textures that extend for over 800 metres of strike, reaching widths in excess of five metres.

Rock chip samples record anomalous levels of gold with individual assays including:

5.16g/t, 0.23g/t, 0.23g/t and 0.12g/t gold.

The sampling has indicated epithermal pathfinder metals to be enriched with arsenic to 330ppm and molybdenum to 70ppm.

“First pass FPXRF soil geochemistry over Bunyip has defined large, high magnitude arsenic and molybdenum anomalies,” Adelaide Resources said in its ASX announcement.

“A number of siliceous sinters have been located in the sediments that lie stratigraphically above the veins, and may record the palaeo land surface during the epithermal event.

“Reconstruction of the palaeo land surface, the presence of shallow level pathfinder metals like arsenic, and the vein textures are consistent with the main gold zone target at Bunyip remaining preserved at depth.”

Adelaide Resources indicated it has further detailed surface exploration to carry out in order to prepare Bunyip for drill testing.

Email: adres@adelaideresources.com.au

Website: www.adelaideresources.com.au