Kidman intersects high-grade mineralisation at Home of Bullion
THE DRILL SERGEANT: Kidman Resources has received its first assay results from drilling being conducted at the company’s modestly-named Home of Bullion project located at Barrow Creek in the Northern Territory.
The company has received the results for the first 3 drillholes, of a 24 drillhole RC program, testing the Main lode at the project.
Three of the remaining holes were holes drilled into the Southern Lense.
Kidman said the drilling had encountered multiple high-grade polymetallic intercepts of copper-silver-lead-zinc and gold that it considers to be close to true width.
The mineralisation identified by the drilling appears close to surface providing the company with some confidence of potential for an open-pittable resource.
Main Lode long-section – recent intercepts (yellow dots). Source: Company announcement
The initial results include:
– HRC020: 4 m at 4.7 per cent copper, 5.1 per cent zinc, 84.6 grams per tonne silver, 1.3 per cent lead, 0.52 grams per tonne gold (4m at 7.7 per cent copper equivalent) from 49 metres;
– HRC002: 3m at 1.9 per cent copper, 4.7 per cent lead, 2.2 per cent zinc, 204g/t silver, 1.13g/t gold (3m at 6.2 per cent copper equivalent) from 25m (sampling required in footwall); and
– HRC009 3m at 2.7 per cent copper, 2.3 per cent zinc, 45.5g/t silver, 0.45 per cent lead, 0.46g/t gold (3m at 4.9 per cent copper equivalent) from 208m.
Kidman considers the result from hole HRC020 confirms previous high-grade drill intercepts at Home of Bullion Main Lode.
Similarly it also claimed hole HRC002 confirms oxide potential and includes very high-grade silver at 204 grams per tonne.
“We are very excited with the initial results for the first three holes of our 25 hole program at Home of Bullion with more assays due over coming weeks,” Kidman Resources executive director Shane Mele said in the company’s announcement to the Australian Securities Exchange.
“These results have encouraged us to immediately up our exploration efforts which will include a follow up diamond drilling program due to start in early September.
“The high grade Main lode now has an identified strike length of approximately 170 metres and potentially extends further east under cover.
“Assays are yet to be received for the separate Southern Lode located 200 metres south of the Main Lode.
“Within the company’s tenement there is up to 15 kilometres of potential strike to the west and east of these known high grade lodes.”
The drilling has also identified magnetite in the ore, which Kidman said would assist its upcoming geophysics (magnetics) survey to define strike extensions to the ore body under shallow cover.
The company has a detailed airborne magnetic survey scheduled to start before end of August to define further drill targets across its entire tenement.
