ASX-listed CZR Resources is gearing up for a maiden round of reverse circulation drilling next month at its Buddadoo gold project less than 10km east of the 1.2-million-ounce Deflector gold-copper mine in Western Australia’s Murchison region. CZR’s ground straddles the under-explored Gullewa greenstone belt where multiple targets that have been lit up by high-resolution magnetics are also coincident with soil and rock chip samples that returned anomalous gold readings.
It picks up about 25km of strike of the Salt Creek Shear Zone which cuts through the northern edge of the auriferous Yilgarn Craton.
Buddadoo has five separate targets in total that CZR is looking to drill test.
Like many ASX-listed WA gold hopefuls, the company has been led to the area by historical reports of gold and base metal mineralisation along the Salt Creek Shear at Edamurta in the north and the Deflector mine to the west.
The Deflector mine had its maiden gold pour back in May 2016 and operator, Silver Lake Resources said it is chasing shallow, narrow-vein, high-grade gold and copper underground at Deflector.
CZR is preparing to throw around 5,00 -metres of RC drilling at its five prospective targets, including two at Edamurta in the north and another three at Buddadoo in the south of its ground.
CZR now has two soil and rock chip sampled targets to vector in on at Edamurta. The western target has returned strong arsenic anomalies which are often associated with deeper gold mineralisation. The eastern prospect exhibits strong copper anomalies in line with exploration results from historical pitting and drilling.
The company said some rock chips recovered from the easterly target at Edamurta contained visible copper and returned assay values as high as 6 per cent copper. According to CZR, the footprint of the copper anomalism there covers an area of 700m by 300m.
The cluster of targets further south at Buddadoo are covered by various levels of gold anomalisms and other pathfinder elements. Importantly, Buddadoo’s most southerly target has a strong surface gold anomaly which stretches for around 400m along strike over a width of 100m.
According to CZR, this target also has an extensive copper anomalism, coupled with quartz veining which includes visible secondary copper mineralisation going at up to 15.2 per cent copper.
With a drill campaign almost ready to kick-off, CZR won’t have long to wait now to determine if its grab bag of copper-gold samples and positive magnetics are just flukes or if they have a source somewhere – a good job for the rotary truth diviner.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
