Join our daily newsletter At The Bell to receive exclusive market insights
- ActivEX (AIV) has reported exceptional rock assays from geological mapping activities at the Seventy Mile Mount – Matthews Pinnacle area
- This area lies within the 3.8 million ounce Mount Leyshon deposit which forms part of the broader Ravenswood Gold Project in northeast Queensland
- Best rock chip assays returned up to 86.2g/t gold and 467g/t silver
- The exploration activities were commissioned by the company’s joint venture partner, Ballymore Resources
- Company shares are down 23.1 per cent and trading for 10 cents
ActivEX (AIV) has reported exceptional rock assays of 86.2g/t gold and 467g/t silver from the Seventy Mile Mount – Matthews Pinnacle area.
The company’s joint venture partner, Ballymore Resources, commissioned Izmin to conduct detail geological mapping and evaluation of the Seventy Mile Mount – Matthews Pinnacle area.
This area is located within the Mount Leyshon Corridor which is just five kilometres northeast of its 3.8 million ounce namesake gold mine (EPM 18424).
The highly prospective Mount Leyshon deposit is part of the greater Ravenswood Gold Project which is situated in the Charter Towers and Ravenswood region of northeast Queensland.
A total of 72 rock chip samples were collected and sent to Australian Laboratory Services in Townsville for analysis. Out of the 72, 35 rock chips exceeded 0.1 parts per million (ppm) gold and 14 samples exceeded 1g/t gold.
The highest result reported for sample SMM057 was collected from Pinnacle Creek and included 86.2ppm gold, 133ppm silver, 0.30 per cent copper, 0.26 per cent manganese, 50.3ppm molybdenum, 5.08 per cent lead, 0.12 per cent tungsten and 0.11 per cent zinc.
Company shares are down 23.1 per cent and trading for 10 cents each at market close.
