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Australian Potash announces final Lake Wells Gold drilling results

Published by
Global Mining Review,


Australian Potash Ltd has advised the final assay results for the diamond drilling (DD) completed at the Lake Wells Gold joint venture (JV) by JV partner St Barbara Ltd (SBM). A follow-up drill programme to further understand the geographical scale of mineralisation has been planned, with mobilisation of field crew and a diamond drill rig in late 1Q22. The proposed follow up programme comprises up to 16 diamond drill holes, for approximately 4200 m.

Highlights

  • Significant results returned from 2H21 drilling programme, including:
  • 2020LWDD0002: 1.9 m at 14.35 g/t gold (Au) from 73.5 m, including 1 m at 26.9 g/t Au from 73.5 m.
  • 2020LWDD0001:
    • 1.1 m at 1.14 g/t Au from 78.9 m.
    • 1.8 m at 0.53 g/t Au from 82 m.
    • 1.6 m at 3.46 g/t Au from 109.2 m including 0.8m at 6.51 g/t Au from 109.2 m.
    • 2.5 m at 0.85 g/t Au from 116.5 m including 1 m at 1.62 g/t Au from 117 m .
    • 1 m at 0.52 g/t Au from 128 m.
    • 7 m at 0.52 g/t Au from 140 m including 2 m at 1.07 g/t Au from 144 m.
  • A diamond drill programme of up to 16 holes is planned for late 1Q22 mobilisation.
  • Geochemical signature analogous to a Kundana style of mineralisation.

Australian Potash Managing Director and CEO, Matt Shackleton, said: “The grade of gold mineralisation seen in only the second DD hole completed at this project is very encouraging. The Yamarna Shear Zone hosts numerous gold deposits, including the Golden Highway, strongly supporting the exploration model being followed by St Barbara. We look forward to the FY22 programme and these additional diamond drill holes as we better understand the significance of what has been uncovered.”

Australian Potash has been advised that a work programme of up to 16 diamond drill holes for 4200 m is planned for FY22. Along with the diamond drilling, there will be the associated assay and geochemical analysis, structural logging, and lithological analysis all to be completed to understand the scale and significance of the mineralisation discovered in the FY21 exploration programmes.

Mobilisation for the DD programme is anticipated to commence in late 1Q22 with the drilling component of the programme to be completed by end of 2Q22.

Read the article online at: https://www.globalminingreview.com/exploration-development/03082021/australian-potash-announces-final-lake-wells-gold-drilling-results/

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