Codrus Minerals Highlights Multiple Gold Zones at Middle Creek Project
THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) headed off to Diggers & Dealers with a spring in its step following the release of encouraging assay results from a recently completed trenching program at the company’s 100 per cent-owned Middle Creek gold project, located near Nullagine in the Pilbara of Western Australia.
A recently completed work program involved excavation of 11 trenches to allow Codrus to carry out detailed mapping and sampling in areas where multiple gold anomalies were identified from previous soil and rock chip sampling.
Codrus reported the results of this program support the company’s view that this project has strong potential to host gold mineralisation.
Middle Creek is in a good neighbourhood with Novo Resources Corp nearby with its Beaton’s Creek gold project mining and processing ore at the Golden Eagle Plant located approximately 15km to the south-west of Codrus’ Middle Creek tenements.
To the north of Middle Creek, Calidus Resources is completing a Definitive Feasibility Study (DFS) on its high-grade Blue Spec gold project that contains Mineral Resources of 415,000 tonnes at 16.35 grams per tonne gold for 219,000 ounces of gold approximately 7km to the north-east.
“We are very encouraged by these results, which provide a clear indication of the widespread nature of gold mineralisation at Middle Creek,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.
“Given these tenements have never had a single drill-hole into them, this shows that the project is wide open for a significant discovery.
“The strategic location of the tenement package in the heart of the Nullagine gold mining district provides an important added imperative to our exploration approach.
“Calidus Resources has recently made the successful transition to production at Warrawoona and is completing a Definitive Feasibility Study on the Blue Spec deposit, located near our Middle Creek tenements.
“Blue Spec is an important part of their growth pipeline in the district.
“Other key players in this revitalised district include Novo Resources at their nearby Beatons Creek project, and of course the world-class Hemi deposit, owned by De Grey Mining.
“We are looking forward to receiving the remaining results from the final two trenches, which will pave the way for us to complete a targeting exercise to determine the next key steps.
“We have recently strengthened our strategic footprint with an application for a new package of tenements that complements our existing position across the Middle Creek Mining Centre.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: admin@codrusminerals.com.au
Web: www.codrusminerals.com.au