Critical Resources Limited (ASX:CRR) has received the assay results for the first diamond drill hole from its 100% owned Gibsons prospect at the Halls Peak project in New South Wales, confirming multiple high-grade intersections of massive sulphide mineralisation.
Highlights
· 12.45m @ 10.91% Zn, 5.73% Pb , 1.15% Cu, 331.63g/t Ag (10.66 oz) and 1.50g/t Au
o Interval includes 4.05m @ 19.31% Zn, 10.23% Pb, 2.12% Cu, 549.68g/t Ag (17.67 oz) and 1.89g/t Au
· High grade mineralisation intercepted with multiple massive sulphide lodes that extend downhole from 4.65m to 103.84m
· Extremely high-grade silver including 1.24m @ 1,750g/t Ag (56.27 oz)
Other selected results include:
· 1.74m @ 17.43% Zn, 9.38% Pb, 2.98% Cu, 1,347.13g/t Ag (43.32 oz) and 0.74g/t Au from 102.10-103.84m demonstrating deeper potential than previously proven o Interval includes 1.24m @ 22.00% Zn, 11.85% Pb, 3.84% Cu, 1,750g/t Ag (56.27 oz) and 0.9g/t Au from 102.60-103.84m
The proposed 14-hole drill programme at has recommenced after the Christmas break with ~2,500m planned.
A subsequent three-hole drill programme for Sunnyside prospect for ~1,700m will follow on completion
· Cores from previously reported drilling continue to be assayed at the ALS laboratory in Brisbane with results expected imminently
· Holes are designed to confirm near surface mineralisation and deeper targets to a maximum depth of up to ~500m
The company is conducting its drill program at its 100% owned Gibsons prospect, part of the Halls Peak project near Armidale in New South Wales.
Assays confirm the first drill hole of the planned 2,500m program of diamond drilling at Gibsons has intersected multiple lodes of massive sulphide mineralisation with extremely high grades of Zinc, Lead, Copper, Silver and Gold.
“Exceptional results such as these prove to us that the Halls Peak project is a heavily mineralised system that warrants significant exploration,” Managing Director, Alex Biggs, said.
“We are delighted with the first round of results from drilling at Gibsons and are excited to continue our work program across the entire Halls Peak project.
“We look forward to keeping the market updated on more exciting results as we begin to unlock the true value of what we feel is a transformational asset for the company and its shareholders.”
Hole CRRDD21_01 has intersected a series of stacked massive sulphide lenses ranging up to 4.05m in downhole length (true width unknown) with composite intervals of 12.45m downhole @ 10.91% Zn, 5.73% Pb, 1.15% Cu, 331.63g/t Ag (10.66 oz) and 1.50g/t Au that represent exhalative accumulations of fluids containing zinc, lead, copper, silver and gold interbedded with black carbonaceous pelite sedimentary rock.
Halls Peak Project Description
The 100% owned Halls Peak project is located in New South Wales approximately 45km South-East of Armidale in the New England Fold Belt, an area well known for its mineral endowment and production.
The Halls Peak massive sulphide deposits were discovered in 1896 where near surface mining extracted high-grade Zinc, Lead, Copper and Silver.
More recent near surface exploration has been conducted by Precious Metal Resources Limited, Sovereign Gold Company Limited (now Critical Resources Limited) and Force Commodities Limited (now Critical Resources Limited) yielding high-grade intercepts to a depth of approximately 150m at the Gibsons prospect. Some near surface historic mining has occurred around the Sunnyside prospect.
For further information please visit: https://www.criticalresources.com.au/
