Newly listed IRIS Metals Limited (ASX:IR1) has received positive drill results from its maiden reverse circulation (RC) drill programme at the company’s Kookynie Gold Project, located approximately 60km south of Leonora, in the gold fields of West Australia.
Exploration Manager, Andrew Wood, said that in a highly successful first drill programme at Kookynie, near-surface gold mineralisation has been identified across all prospects drilled.
“To say we have hit the ground running from commencing RC drilling within days of listing, to then report high-grade gold intercepts from all prospects drilled, is an understatement,” Mr Wood said.
“It is extremely encouraging to see high-grade gold drill intercepts returning from a range of lithologies confirming the potential of IRIS Metals’ tenure at Kookynie.
“The recent gold discovery by our neighbours at much greater depths than our average reported intercept also builds excitement. It highlights the potential of the Kookynie Gold Project to host mineralisation at depth in areas where we have only scratched the surface.”
Lily
RC drilling at the Lily prospect tested the strike and depth extent of previously reported mineralisation. Historical drilling at Lily recorded gold mineralisation in quartz veins in sheared dolerite. The historic drill collars could not be found at the prospect hence the RC drilling completed aimed to confirm the veracity of reported intercepts.
Peak intervals include:
- 8m @ 3.9 g/t Au from 17m, including 4m @ 5.2 g/t Au and 1m @ 7.6 g/t Au (LYRC005) 5m @ 3.0 g/t Au from 26m, including 1m @ 6.7 g/t Au and 1m @ 5.3 g/t Au (LYRC006)
- 5m @ 6.1 g/t Au from 34m, including 1m @ 22.7 g/t Au and 1m @ 3.6 g/t Au (LYRC007)
- 6m @ 3.7 g/t Au from 16m, including 1m @12.4 g/t Au and 1m @ 4.0 g/t Au (LYRC030)
- 5m @3.3 g/t Au from 45m, including 1m @ 4.4 g/t Au and 1m @ 8.3 g/t Au (LYRC032)
- 4m @2.6 g/t Au from 25m, including 1m @ 7.8 g/t Au (LYRC035)
Drilling at Lily centred on a local ENE trending structure marked by historic mine workings and recent prospecting. RC drilling intercepted high-grade gold mineralisation in a quartz vein within a broad shallow dipping zone of sheared dolerite persistent over several drill lines.
The ENE trending mineralised shear persists from near surface, down dip to fresh dolerite and remains open down dip and along strike to the ENE.
Additional drilling programmes are planned to test for mineralisation along strike and at depth. The Company’s recently completed Aeromagnetic data interpretations identified an additional three high priority targets proximal to Lily requiring further investigation.
For further information please visit: https://www.irismetals.com/
