Glory Resources maiden drill identifies 4km PGM-Cu-Ni Target
THE DRILL SERGEANT: The maiden drilling program of Glory Resources on its flagship Onion Lake project has intersected a mafic intrusion.
According to Glory the intersected mafic intrusion sequence is geochemically similar and is likely to represent an extension to the adjacent Magma Metals mafic-ultramafic conduits, namely the Current Lake Intrusive Complex.
At Current Lake, Magma has identified a new platinum-group-metals (PGM) – copper-nickel bearing trend with a defined mineral resource of 732,000 ounces platinum equivalent.
Glory is of the opinion the results from Onion Lake highlight the highly prospective nature of the project.
The drill campaign of six diamond drill holes for 950m targeted geophysical anomalies identified from airborne magnetics.
Highlights from the drill program included: The discovery of mafic rock that may represent an extension to the Magma’s ultramafic conduits; A wide zone of mafic rocks intersected in one of the diamond drill holes (over 50m width); Initial geochemical analysis demonstrates that the rock type is similar to the host rock of the Magma discovery; and Immediate target area extending for over 4 strike kilometres has been defined by the program and follow-up exploration work has already commenced.
The Onion Lake project is located within the North American Mid-Continental Rift – an emerging PGM-Cu-Ni environment.
The region is host to several large nickel, copper and PGM deposits.
“The initial drill campaign has clearly shown that the Onion Lake project is in a geologically favourable setting for significant platinum-group-metals – copper – nickel mineralisation and confirms our initial interest in the Onion Lake project area,” Glory Resources director Jeremy King said in a company announcement.
“The company will now commit to an ongoing exploration program consisting of surface prospecting, trenching, geophysics and diamond drilling; with 2,000m of diamond drilling planned over the North American summer and a further 5,000m of diamond drilling scheduled for the winter season.
“We have commenced follow-up work targeting the extension to the mafic unit intersected in the recent drilling program and surface sampling and mapping has already located extensions to the mafic units intersected in the maiden drilling program.”
This recent exploration campaign has resulted in Glory Resources identifying several high priority targets for additional exploration testing as well as highlighting the exploration targeting that can be used to assist in locating potential ultramafic conduit bodies.
The company has an aggressive exploration program planned for the 2011 North American summer and winter seasons, which is already underway.
This exploration program consists of surface mapping and trenching, ground geophysical surveying and further 7,000m diamond drilling program.