E79 Gold Mines Limited (ASX: E79) has obtained “significant” new results from air-core drilling at its Laverton South Gold Project in Western Australia, where recent drilling has intersected multiple zones of gold mineralization.
“This is a very exciting development for the company, as we are seeing a clear change from gold anomalism to gold mineralization in the southern air-core drill lines,” CEO, Ned Summerhayes, said.
“Air-core drilling has intersected two mineralised zones with gold values greater than 3g/t Au, which is an excellent early- stage result. Both mineralized zones sit below the paleochannel, are associated with quartz veining and sit in the same stratigraphic position on adjacent drill lines, 300m apart.
“This new zone sits to the south of the central zone and forms part of a 2,600m long anomalous zone, which remains open to the south. With the RC rig arriving soon to test for gold at depth, we are excited to see what lies beneath Target 3.”
Laverton South Project
The Laverton South Project, with an area of 355 sq. km, covers a southern portion of the Laverton Tectonic Zone (LTZ) approximately 130km east-northeast of Kalgoorlie, within the major gold producing Archean Yilgarn Craton of WA.
E79 Gold recently completed 176 air-core holes for 14,350m in a follow-up programme to in-fill and extend previous gold anomalism at Target 3. The initial 80 holes of this follow-up programme, which were released to the market on 10 November 2022, identified two zones of anomalous gold, the Central Zone, showing wide intervals of anomalous gold to end-of-hole, and the narrower, higher-grade Western Zone.
The results from 50 holes of the programme has identified a new Southern Zone with high-grade gold results. Assay results confirm this Southern Zone sits within the broader 2,600m strike length of gold anomalism, sits to the east of a magnetic unit and is supported by ‘pathfinder’ elements in Sn, Cu, Pb and W. The magnetic unit also shows elevated Ni and Cr, indicating an ultramafic unit, which appears to be a focus for the gold mineralization/anomalism.
Best results include:
• 3m @ 1.55 g/t Au from 92m (22LRAC369) including 1m @ 3.88 g/t Au from 94m to end-of-hole
• 6m @ 0.27 g/t Au from 80m (22LRAC392) to end-of-hole
• 4m @ 3.20 g/t Au from 92m (22LRAC394)
• 4m @ 0.21 g/t Au from 92m (22LRAC395)
Both of the >3 g/t Au zones are within quartz veined intervals within basalts and are located near the contact of an ultramafic unit. Further to the north within the Central Zone, the gold anomalism is thicker and associated with a granite greenstone contact with the character of the alteration mineralogy showing evidence of fluid flow and the mixing of oxidised and reduced fluids. This type of fluid mixing is well noted as a very efficient mechanism for the precipitation of gold from the mineralising hydrothermal fluids.
Drill assays for the southernmost line of drilling remain pending at the time of this release.
A second recent air-core drilling program, targeting gold along the eastern side of the intrusion at Target 4, has also been completed with 95 holes drilled for 3,905m. Assays from this program are pending.
For further information please visit: https://e79gold.com.au/
