Anglo Australian Resources Feysville Drilling Returns Dividends

THE DRILL SERGEANT: As the Diggers & Dealers Forum kicked off in Kalgoorlie, Anglo Australian Resources (ASX: AAR) lodged an update in relation to the company’s Feysville gold project in Western Australia.

Anglo Australian commenced a Reverse Circulation (RC) drilling campaign in June at Feysville – specifically, at the Think Big, Saintly and Saintly South prospects, as well as to the south of Think Big with the aim of expanding the footprint of gold mineralisation at the currently known prospects and test a new target to the south of Think Big where geophysics and gold anomalism in previous aircore drilling suggested potential for additional mineralisation.

Several holes – FRC111-116 and FRC120 – were drilled at Think Big.

FRC112
8 metres at 1.32 grams per tonne gold from 56 metres; and

FRC116
12m at 1.07g/t gold from 64m, 4m at 1.56g/t gold from 80m, and 4m at 1.72g/t gold from 92m

These holes intersected a new structure located just to the west of, and parallel with, the interpreted position of the Ethereal Shear Zone, with a potential strike length of at least 200m.

Four RC holes were drilled at Saintly as part of the June campaign encountering a new gold intersection in:

FRC110
8m at 3.14g/t gold from 68m.

FRC110 is the northernmost hole yet completed at Saintly and gold mineralisation remains open to the north into an area with mapped andesite, the preferred host rock at Think Big.

“Not wishing to sound like a broken record, the more we drill at Think Big and Saintly, the more gold mineralisation we identify,” Anglo Australian chairman John Jones said in the company’s announcement to the Australian Securities Exchange.

“That said, we remain yet to fully understand the geological controls on gold mineralisation in this area.

“To this end, the diamond drilling campaign currently underway should be of great assistance in our future targeting efforts.

“The fact that metallurgical test work of Think Big ore has delivered excellent recoveries ticks a further box towards the establishment of a mining operation.

“Separately, shareholders might have seen recent comments from Bill Beament, executive chairman of major gold producer, Northern Star Limited, our immediate neighbour to the south at Feysville, where he talked highly of the prospectivity of this underexplored area and how the intention is for their company to spend a large portion of its $60 million exploration budget for the year in this area.

“It seems Anglo Australian is not alone in considering the area to the south of Kalgoorlie still has much to offer and is of considerable merit.”

 

Email: info@anglo.com.au

Website: www.anglo.com.au