Shree Minerals Ltd (ASX:SHH) has discovered a new gold mineralised quartz vein and identified historic pegmatite workings at the Bruce prospect that forms part of the Arunta Joint Venture in Australia’s Northern Territory.
Geological mapping and prospecting in the area surrounding the original quartz veins and historic workings at the Bruce prospect has located a new ferruginous and partially gossanous quartz vein approximately 700m to the south.
The quartz vein is a shallow north dipping thrust and strikes east-west similar to other veins in the area. The vein is 1-2m wide and extends for ~600m and possibly linking with a previously discovered quartz vein further to the east giving a total strike length of 2.1km.
Rock chip sampling of an exposed 300m section of the quartz vein returned values up to 7.24g/t Au, however, the sample results show a large range suggesting that the gold has an uneven distribution in the vein (nuggety gold). A selected sample of ferruginous quartz from a possible extension of the vein 1.4km to the east assayed 15.26g/t Au.
An interpretation of satellite images has revealed additional areas of quartz veins located 6km to the southeast of the Bruce prospect. These veins have not been visited or sampled by Shree or previous exploration companies. Rock chip sampling and mapping will be conducted during the next site visit.
Desktop studies have revealed that EL31225 also contains groups of historic workings that were targeting coarse flake mica from pegmatite veins eg Whistleduck, Millers Mica and Arcadia Mica. The pegmatites have not been assayed for lithium or rare earth elements (REE) in the past but following the boom in battery metals and the recent increase in the lithium price a selection of the numerous old workings will be sampled and analysed for lithium group elements and REE.
Next Steps
In June 2021, the company was planning RC drilling at the Bruce prospect to test the mineralised quartz vein. Subsequently additional mineralised quartz veins were discovered during reconnaissance mapping. The results of these rock chips have now become available as detailed in this announcement.
Drilling will be planned after completion of further rock chip sampling and mapping of additional areas of quartz veins and pegmatites identified. Land access agreements with affect landholders and an Aboriginal heritage survey are required prior to drilling, in addition to environmental approvals through the NT Department of Industry, Tourism and Trade. Shree has been working with various stakeholders to progress the approvals.
For further information please visit: https://shreeminerals.com/
