Shree Minerals Ltd (ASX:SHH) is preparing to drill test a gold anomaly at the Rock Lodge Exploration Licence (EL9155) that forms part of the company’s Lachlan Fold Belt Project in NSW.
The target was generated by soil sampling and rock chip sampling and is coincident with the northern area of IP chargeability at the Rock Lodge Exploration Licence.
In September 2021, Shree completed a soil sampling programme over the northern area of anomalous induced polarisation (IP) chargeability where previous drilling intersected gold mineralisation.
The soil sampling was conducted on a detailed 80m x 20m grid, generating 130 samples that were submitted to the laboratory for gold and pathfinder geochemistry.
The best result from the soil sampling program is 1.29g/t Au, 1615ppm As, 208ppm Bi, 240ppm Cu from close to historic workings. There were also five samples with over 100ppb Au (0.1g/t Au).
The results have identified an approximate north south trend that is coincident with the northern IP chargeability anomaly. The soil sampling programme results correlate well with the 17 rock chip samples taken in August 2021. A sample of gossanous sediment taken from near several old workings returned a maximum result of 7.3g/t Au with 6049ppm As and 446ppm Bi.
RC Drilling Programme
The drilling will be conducted on traverses to validate previous drilling and extend the mineralisation. Drilling will also be conducted to test the southern IP anomaly that is located approximately 1.6km to the south and has not been sampled or drilled previously.
The company believes it is possible that the gold mineralisation is continuous between the northern and southern IP anomalies but this cannot be confirmed without drilling because of flat lying basaltic cover rocks.
The RC drilling programme will comprise 16 holes for ~1,000m. A land access agreement has been signed with the landholder and approval for drilling has been given by the NSW Department of Planning, Industry and Environment.
A contract has been signed with a drilling contractor with drilling preliminarily scheduled to commence around mid-November.
Geological consultants Rangott Mineral Exploration Pty Ltd in Orange is assisting Shree with the programme because of Covid related travel restrictions.
For further information please visit: https://shreeminerals.com/
