ASX-listed junior explorer Askari Metals has capped off the second phase of drilling at its prospective Burracoppin gold project in Western Australia’s eastern wheatbelt. The company completed 1,300 metres over 13 reverse circulation holes following on from a number of significant strikes in the first pass.
Askari says the potential strike length of mineralisation has now been extended to more than 2.4 kilometres.
The main target of the 13 holes was an untested zone of mineralisation to the west of the historical workings identified in the first pass of the rig in the third quarter of 2021.
More specifically, the holes were designed to target down-dip extensions of mineralisation.
Notable intersections from the initial campaign at Burracoppin include 4m at 4.27 grams per tonne gold from 25m downhole and 3m that gave up 3.57 g/t gold from 40m.
The junior, now awaiting assay results, is keen to fire the rig up for round three, with hopes of ploughing through the wheatbelt again in five to six weeks.
An investigation of government data reveals a peppering of work across Askari’s ground. The historical Benbur and shallow oxide mines were the focus of phase two of drilling, however the company is now set on expanding its horizons in the third phase of the program.
A high-definition drone magnetic survey identified several high-priority structures that will be tested in its next campaign.
Interestingly, Burracoppin lies 25km southwest of ASX-listed Ramelius Resources’ Edna May gold mine. The deposit has recorded production of over 1 million ounces with annual production since 2011 ranging between 66,000 and 99,000 ounces of gold.
The equally proximal Edna May mill, adjacent to Ramelius’ mine churns through 2.9 million tonnes per annum with a total recovery of around 93 per cent.
Askari Metals Vice President of Exploration and Geology, Johan Lambrechts said:
“The first phase returned several positive results, and we are excited to explore them further. This second phase of drilling targeted an area historically covered by a shallow five-meter deep oxide mine. During Phase 1, the Company drilled two holes below the area and received results of 4m at 4.27 g/t and 2m at 2.38 g/t from beneath the laterite cover, highlighting its potential. A further phase of drilling is also planned to commence in the next 5 to 6 weeks and will focus on other areas, testing their mineralisation potential.”
Market expectations suggest that this month buyers of the precious yellow metal will be paying above $2,600 an ounce.
With significant strikes in its first pass, a peppering of historic workings and a well-established operation around the corner, it’s not hard to see why Askari is keen to keep the drill bit spinning. Investors will be watching on with interest, awaiting news from the bag of assays yet to be revealed with the junior also poised to extend its search into the subsurface with another pass of the rig.
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