Meteoric confirms gold at Tibooburra
THE DRILL SERGEANT: Meteoric Resources has completed follow-up sampling of an initial drilling program at the company’s New Bendigo prospect at Tibooburra, 300 kilometres north of Broken Hill in New South Wales.
The sampling has confirmed high-grade gold mineralisation from intersections including:
– 20 metres at 5.22 grams per tonne gold from 8 metres, including 3 metres at 22.62 grams per tonne gold from 13m; and
– 4m at 11.33g/t gold from 36m at end of hole.
Meteoric said the results highlight the potential of the New Bendigo prospect to host significant shallow gold mineralisation.
“The mineralisation intersected by the drilling represents the northern soil covered extension of a 1.2 kilometre-long zone of mapped sericite-altered phyllites and metasiltstones hosting old gold diggings,” the company said in its ASX announcement.
“Within this 100 metre to 300 metre-wide alteration zone a second line of old diggings is evident to the west of the trend drilled to date.
“The western trend is approximately one kilometre in length and remains to be drill tested.”
The latest results follow on from the company’s announcement from September of the completion of a first pass RAB/aircore drilling program at Tibooburra.
Meteoric has now completed follow up sampling of one metre intervals in mineralised zones of that drilling.
The company said the follow up sampling has confirmed a zone of mineralisation some 300m in strike length with best intercepts of:
– 20m at 5.22g/t gold from 8m, including 3m at 22.62g/t gold from 13m; and
– 4m at 11.33g/t gold at end of hole, including 2m at 21.87g/t gold from 36m.
“The mineralisation is interpreted to comprise multiple sub-vertical zones of quartz veining and stockworks within a broader zone ranging from 20 metres to 50 metres in width,” Meteoric said.
“The mineralisation appears to be strengthening to the south and is open in that direction.”
Six kilometres south of New Bendigo, further follow-up sampling was carried out on the Kink prospect, which the company said also confirmed anomalous gold grades in drill holes one kilometre apart.
Both the New Bendigo and Kink prospects occur close to a mapped regional fault structure, the New Bendigo Fault.
“Meteoric is most encouraged by the confirmatory assays from its first drilling program, which demonstrate the potential for New Bendigo to host shallow high grade gold mineralisation,” the company said.
“A program of mapping and sampling is to be carried out at New Bendigo in order to define further drilling targets along strike on the eastern zone and at the untested western zone.
“Further drilling is also planned at Kink to follow up the anomalous results from the wide-spaced drilling.”