E79 Gold Mines (ASX: E79) CEO Ned Summerhayes updates Wally Graham of The Resources Roadhouse on the company’s project advancements while attending RIU Resurgence 2023 Conference in Perth.
THE DRILL SERGEANT: E79 Gold Mines (ASX: E79) didn’t let the dust settle after returning home from the RIU Sydney Resources Round-up by reporting the identification of numerous anomalies prospective for gold, lithium and base metal mineralisation at the company’s Jungar Flats gold project in the Murchison Region of Western Australia.
E79 Gold Mines explained the targets had been outlined by a recent shallow auger drilling program the company had carried out to test a 35 kilometres strike of greenstone using the CSIRO-developed UltraFine+ analytical technique.
The company reported the results demonstrate a range of anomalies for gold, base metals and lithium.
The highest priority gold target identified is an 800 metres-long coherent gold anomaly within the greenstone sequence that is also a coincident lithium anomaly.
“The UltraFine+ soil auger results demonstrate the enormous potential of the Jungar Flats project, with anomalies defined for a range of commodities including gold, base metals and lithium,” E79 Gold Mines CEO Ned Summerhayes said in the company’s ASX announcement.
“The gold and base metal anomalies sit along a greenstone unit where historic drilling had demonstrated gold mineralisation at depth, while the lithium anomaly sits in an area of interpreted granite.
“The high-priority gold anomaly reflects a coherent anomaly within greenstones extending for over 800 metres, and, importantly, within a magnetic low, indicating possible magnetite destruction.
“Magnetite destruction can indicate the flow of hydrothermal, metal-bearing fluids interacting with previously magnetic country rock.
“The next stage of exploration will be to ground-truth the anomalies ahead of aircore drill testing, after appropriate heritage surveys have taken place.”
THE DRILL SERGEANT: E79 Gold Mines (ASX: E79) recently completed a geophysical program at Target 3 within the company’s Laverton South gold project in Western Australia.
E79 Gold Mines reported the results from the program demonstrated new exploration drill targets with a potential northern extension and southern offset to the prospective granite that hosts the Target 3 gold system.
The company has commenced an air-core drill program to test the potential southern extension.
A RC rig is expected on-site next week to test for high-grade shoots along the granite contact at depth, to evaluate the potential for Granny Smith-style mineralisation at Laverton South.
“Gravity surveys are a great tool for early exploration, with the ability to dramatically reduce your search radius and make exploration drilling more focused and effective,” E79 Gold Mines CEO Ned Summerhayes said in the company’s ASX announcement.
“The recently completed gravity survey over Target 3 has identified the main prospective granite – where drilling has intersected multiple plus-one gram per tonne hits – as well as a possible extension to the north and a possible offset to the south.
“Increasing the exploration area for the prospective granite contact is a high priority and will lead to more focused exploration drilling.
“The current air-core drill program will test the potential southern offset, and deeper RC drilling is set to begin next week at Target 3.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
THE DRILL SERGEANT: E79 Gold Mines (ASX: E79) informed the market this morning that has commenced “Big Drill Programs” at the company’s Laverton South gold in the North Murchison region of Western Australia.
E79 Gold Mines explained the drilling is to take place on its Pinjin tenements, specifically targeting the Target 3 and Target 4 exploration areas.
The company considers these to be early-stage exploration targets with drilling to date showing gold anomalism along defined trends.
A RC drill rig is due to arrive onsite in the coming week to follow up previous drilling at Target 3 to test this potential high-grade position.
An AC drill rig will drill test extensions to the Target 3 gold system to the south and to test the granite greenstone contact to the north of the previous RC drilling.
The AC drill rig will also test prospective areas of Target 4, identified from the previous program, which identified gold anomalism in fresh rock.
“We are implementing an aggressive exploration program to accelerate our potential to make material discoveries within our projects,” E79 Gold CEO Ned Summerhayes said in the company’s ASX announcement.
“We will resume the aircore rig and the RC rig, when it arrives, to further define gold mineralisation at Target 3, which is currently identified as 2,600 metres long and 200 metres deep and open in all directions.
“The Target 3 system hosts gold in mineralised pods, along the eastern side of a granite/greenstone contact, within a larger anomalous zone.
“While the aircore rig will test for extensions to the gold mineralised granite/greenstone contact, the RC drilling will target the interpreted high-grade zones based on the Granny Smith model where better gold grades are in areas of flattened contact.
“The aircore rig will also test prospective areas of Target 4, where gold anomalism is hosted within a 30 kilometres long regional gold trend.”
THE DRILL SERGEANT: E79 Gold Mines (ASX: E79) has identified a second emerging gold trend from recent aircore drilling at Target 4, within the company’s Laverton South gold project in Western Australia.
E79 Gold recently completed 95 aircore holes at Target 4 designed to test a large-scale regional-scale gold-bearing structure, the Pinjin Fault, that hosts gold mineralisation over a 30 kilometres strike length.
The Pinjin Fault runs for six kilometres through E79’s tenure and the recent aircore drilling program explored along 2.5km of this strike length, through an area of structural complexity in the regional magnetics.
Results from recent drilling include:
22LRAC443
8 metres at 0.41 grams per tonne gold from 24m;
22LRAC428
4m at 0.47 g/t Au from 64m; and
22LRAC503
3m at 0.48 g/t Au from 28m.
“Target 4 is an exciting emerging target, located within a regional mineralised gold structure that hosts both historic workings and recent open pits along 30 kilometres of strike,” E79 Gold CEO Ned Summerhayes said in the company’s ASX announcement.
“We know that the structure, the Pinjin Fault, is mineralised in parts and we are seeking higher grades along the six kilometres runs through our tenements.
“Identifying anomalous gold, supported by pathfinder elements, in fresh rock is a great start, demonstrating that the gold is in-situ and has depth potential.
“These results provide two areas of focus for us: in the north, gold is located on either side of a structural break in the stratigraphy, which represents a zone of structural complexity; and in the south, where we have a number of holes with anomalous gold along the western edge of one of the drill lines.
“Our next step is to in-fill the 400 metres-wide spaced drill lines more closely, ahead of deeper RC drilling.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
