THE DRILL SERAGENT: Encounter Resources declared IOCG style metal anomalism had been intersected at the Aileron copper-gold project, which is part of a Joint Venture with Newcrest Mining (ASX: NCM), located in the West Arunta region of WA.
Encounter Resources explained the results came from a partially completed drill hole (EAL001) at the Aileron copper-gold project that had been stalled late 2020 due to mechanical issues with the drill rig.
At the time the decision was made to demobilise the rig and assay the completed section of the drill hole to 158 metres.
The hole is the first to be drilled into an unexplored belt that contains hydrothermal hematite-altered mafic intrusions and granite with a distinctive IOCG geochemical signature under shallow cover (10m).
Assays of the partial core include zones of anomalism in copper (up to 0.1%), gold (up to 48ppb) and molybdenum (up to 155ppm).
As an added bonus, highly elevated rare earth elements consistent with the targeted IOCG deposit model were identified including lanthanum up to 0.2 per cent and cerium up to 0.3 per cent.
“The partially completed hole, the first drill hole drilled into a remote and unexplored 70 kilometres long belt, has intersected zones of intense hydrothermal hematite alteration of the mafic intrusive and granite adjacent to the targeted magnetic anomaly,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.
“We are pleased to report that the hematite altered zones in the hole have a distinctive IOCG signature in a suite of elements including copper, gold, molybdenum and highly elevated rare earth elements.
“Of particular interest is the strong enrichment of the same two rare earth elements, lanthanum and cerium, that are similarly elevated in the Olympic Dam deposit.
“This is a great start for us at Aileron.
“We have identified the key ingredients of an IOCG deposit model at an easily explorable depth in a highly prospective and unexplored copper-gold province.”
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