Gold Exploration Programme Recommences In South Australia
Renascor Resources (ASX:RNT) has recommenced a programme of geophysical surveying, gold exploration soil sampling and drilling at its Carnding Gold Project in South Australia’s Central Gawler Craton.
In August of this year, Renascor announced newly identified gold prospects at its 100%- owned Carnding Gold Project in exploration licence EL 5856,
Subsequently, Renascor expanded its tenement holding at Carnding, with the approval of exploration licence application ELA 2020/00110, which contains additional prospective exploration areas adjacent to the gold prospects within EL-5856.
The company also announced the identification of further shallow gold targets along strike from the Soyuz Project from a previous IP survey.
Managing Director, David Christensen, said Renascor considers the prospects at Carnding, over which previous drilling intersected high- grade, shallow gold, to offer multiple drill-ready targets for near-surface, high-grade, Proterozoic granite-associated gold deposits. The newly identified prospects include the Soyuz, Mir and Sunshine gold prospects.
Renascor has submitted an application with the South Australian Department of Mining and Energy to obtain the approvals required for recommencement of gold exploration activities.
The gold exploration activities will focus on the Soyuz prospect and will include a new IP survey, soil sampling and drilling of up 2,000m which will target:
o the existing target area at Soyuz, where drilling has intersected shallow, high- grade, with results including 7m @ 5.14g/t Au from 26m to end of hole (with 2m @ 16.42 g/t Au from 30m), and 6m @ 4.94g/t Au from 14m;
o Anomalies from existing IP survey and soil sampling areas; and
o locations informed by the results of new IP survey and soil sampling programme.
The existing target area at Soyuz is defined by coincident magnetic and gravity anomalies and multi-element soil leach sampling, over which previous drilling intersected near- surface, high-grade gold.
The gold target zone remains open both at shallow depth and along-strike. Accordingly, Renascor consider the existing drilling to have defined drill-ready targets for shallow, high- grade gold deposits within the target zones, as well as along-strike to the south-west and north-east and targeting the magnetic high immediately to the west.
In addition to the existing target area defined by previous drilling, Renascor has identified an IP anomaly in an untested geochemically anomalous zone approximately 500m along strike of previous Soyuz drilling.
The IP anomaly, defined by a previous IP survey consisting of a single line of 100m dipole- dipole IP in March 2001, is shallow and of significant scale, covering a zone of approximately 150m in width and at least eight times background.
Mr Christensen said the Soyuz IP targets, which are shallow and coincident with the Soyuz magnetic high, are significant in scale (up to 8 mV/V times background) and exhibit chargeability and resistivity signatures typical of sulphide-bearing mineralisation.
He said Renascor considers the IP anomaly to be consistent with sulphide development and hydrothermal alteration/silicification favourable for gold mineralisation.
As part of the upcoming exploration programme, Renascor will be conducting a further, more detailed IP survey over the existing anomalous zone, as well as detailed soil sampling in the Soyuz prospect area.
The soil sampling is scheduled to commence this month, to be followed by the IP survey and, pending final regulatory approvals and rig availability, up to 2,000m of drilling over the existing target zone at Soyuz and additional targets identified by the IP survey and soil sampling programme.
