Askari Metals has received a second tranche of high-grade gold results from a third phase of RC drilling at the company’s Burracoppin gold project in WA’s Wheatbelt region. In June a total of 40 RC holes were drilled for 3639m and now the company has received assays from a further 19 holes with significant results including a 1m hit going 9.54 grams per tonne gold from 31m within a broader 6m strike running 2.37 g/t from 31m.
The same hole delivered additional significant intercepts at a deeper depth including 1m at 5.66 g/t gold from 155m within a broader 5m interval going 1.85 g/t from 151m. In addition, a trio of 1m gold hits were returned from two other holes within the second tranche including 1.93 g/t from 173m, 1.97 g/t from 78m and 1.67 g/t from 99m.
The results build on success revealed in Askari’s initial tranche of assays and confirm an extension of mineralisation northward and downdip of the project’s Benbur prospect. Results from the first nine-holes were reported in mid-September and confirmed a southward extension of mineralisation at the project’s Christmas Gift prospect in the north and towards Benbur to the south.
With the two tranches filling in further gaps between the two prospects, Askari sees significant potential in joining the two zones of mineralisation. Standout gold results from the mid-September release included 1m at 5.06 g/t from 46m and 1m going 8.74 g/t from 42m within a broader 10m strike grading 1.37 g/t from 34m.
Askari Metals Vice President of Exploration and Geology, Johan Lambrechts said: “The gold endowment at Burracoppin is shaping up nicely and based on the results received to date from Phase I, II and III has the potential to be significant.”
Once results from the final 12 holes are received, the explorer plans to update its 3D geological model of the project and use it to guide further exploration in addition to potentially tabling a maiden resource. Notably, Askari’s phase three drilling program did not test below and near existing areas of known mineralisation as this is planned for future phases of drilling.
Whilst the company’s portfolio is primarily stacked with battery metal projects, it does retain a gold side — that may smooth the company’s sail through the market’s buffeting winds.
Gold appears to have reclaimed further territory this week after the price of the precious yellow metal climbed to the US$1720 per ounce level after bottoming out on a yearly low of about US$1621 last week. However, if the metal intends on reaching its yearly high of US$2052 on March 8, there is still a long climb ahead.
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By Matt Birney
