THE BOURSE WHISPERER: Australian Potash (ASX: APC) provided a progress report on exploration at the company’s Yamarna gold project, north-east of Laverton in Western Australia’s Eastern Goldfields.
The Australian Potash tenements cover an estimated 65 kilometres of strike, 60 kilometres north-west of the 6-million-ounce Gruyere mine development of neighbour Gold Road Resources (asx: GOR).
APC has had a review carried out of the Yamarna gold project by CSA Global, which it said shows the project encompasses an interpreted lateral ramp thrust (LRT), which has offset the Yamarna Shear Zone to the west.
The review interpreted a dilational zone that opens up through the middle of APC’s tenement holding with 18 gold targets identified along a 62km strike length, including nine areas now considered highly prospective.
Australian Potash said it anticipates drill targets will be identified by the current work program, adding that the architecture of the LRT is thought to be favourable for orogenic gold mineralisation, being considered appropriate for hydrothermal fluid flow and in which structural-stratigraphic traps are considered likely to occur.
CSA Global have noted the structural setting interpreted for the Yamarna gold project has a number of points of similarity to the architecture and setting of the world-class Timmins district of the southern Abitibi in Canada.
“In progressing the exploration program on the Yamarna gold project, our geological team have this week finalised their review and resampling of pulps and chips from the limited amount of previous work done across the project area,” Australian Potash executive chairman Matt Shackleton said in the company’s announcement to the Australian Securities Exchange.
“Two hundred and thirty samples will be submitted for multi-element assay in the coming days.
“These multi-element assay results will feed into the model being developed by industry leading geological consultancy CSA Global, following their recent review into the prospectivity of the Yamarna Greenstone Belt tenementsi and will significantly enhance understanding of regional level structural and mineralisation controls.
“The next steps in this exploration program will be field based, collecting further samples for multielement analysis, and detailed mapping to better define higher priority drill targets.
“We expect to have completed this first stage field program by the end of September, and very much look forward to commencing drilling in Q4.”