Symbol Mining Defines High-Priority Drill Targets

THE DRILL SERGEANT: Symbol Mining (ASX: SL1) has kicked off an Induced Polarisation or IP ground geophysical survey around the company’s Macy zinc-lead mine in Nigeria.

Symbol Mining said it had been encouraged by the initial results it has received from six lines of Gradient Array IP on east-west grid lines spaced 50-metrs apart situated immediately north of the Macy Pit.

The company said tis had shown a strongly chargeable and coincident resistive unit, that is thought to be a response to sphalerite mineralisation, that can be traced on all lines over the 250m strike length.

Pole-Dipole surveying conducted on three lines in the same area shows a very distinctive chargeable stratigraphic unit(s) below the Macy Pit.

This chargeable unit or units is likely to contain disseminated sulphides and work is on-going to model the properties ahead of drilling.

Symbol Mining claimed the respective sections of resistivity show a resistive unit (possibly a quartzite unit) dipping to the west and is stratigraphically intact, sitting largely above the chargeable unit.

The company pointed out, however, the chargeable unit appears to be discordant in several zones on the section, raising the possibility that faulting is responsible for local enhancements of chargeability within these rocks.

“IP geophysics is commonly being used across the base metals sector to directly target sphalerite mineralisation, and we are extremely encouraged to see high/quality targets appearing very early in the program in and around the Macy Mine,” Symbol Mining CEO Tim Wither said in the company’s announcement to the Australian Securities Exchange.

“We are aware that the majority of the historic drilling at Macy was focussed on developing a JORC/compliant resource, but little attention has been paid to the surrounding exploration potential of the Benue Trough.

“The initial results from the IP survey are really encouraging and we will be developing a drill program in the near future to test the 250-metre strike length north of the Macy Pit and the unusual chargeable unit that has been observed below the pit area that we were previously unaware of.

The Macy Pit is 250m in strike length and Symbol indicated it has follow-up drilling planned over 250m strike on the northern pit extension to test whether the geophysical anomaly is indeed sphalerite mineralisation as thought and if so, to determine whether the grades and widths of mineralisation can support a cut-back of the pit.

 

Email: info@symbolmining.com.au

Website: www.symbolmining.com.au