PLD raises potential for additional Resources at Admiral Bay

THE DRILL SERGEANT: PLD Corporation (ASX: PLD) has released an Exploration Target Range (ETR) at the company’s Admiral Bay zinc project in the northwest of Western Australia.

The ETR has come in at 170 million tonnes to 250 million tonnes at 5.3 per cent to 7.5 per cent zinc equivalent (ZnEq) (2.2–3.1 per cent zinc, 2.5–3.6 per cent lead, 15–20g/t silver) and has been determined estimated for a 16 kilometres mineralised corridor PLD has identified at the Admiral Bay project.

The ETR is additional to a previously reported Mineral Resource Estimate (MRE) of 72 millin tonnes at 6.7 per cent ZnEq.

PLD explained the ETR was estimated using past exploration data, which included drilling results and seismic data combined with new observations of project drill core and a review of previous resource estimation modelling.

Based on geological assessment, the company now considers multiple additional higher-grade zones could exist within the Admiral Bay mineralised system, some of which could be of substantial scale.

An ETR has been estimated for these higher grade zones of 7 to 20 million tonnes at 3.3 to 5 per cent zinc, 4.9 to 7.8 per cent lead, and 23 to 30g/t silver for 9.2 to 14.2 per cent ZnEq.

“The MRE of 72 million tonnes at 6.7 per cent zinc equivalent and ETR of up to 250 million tonnes underline Admiral Bay’s potential to be the largest undeveloped zinc deposit in Australia and one of the largest undeveloped zinc deposit globally,” PLD Corporation managing director Matt Gauci said in the company’s announcement to the Australian Securities Exchange.

“Positive discussions are continuing with a wide range of potential investors and partners.”