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- Gold explorer Red Hill Minerals has hit gold beyond known perimeters of mineralisation
- Multiple drill hits were reported on Friday as well as possible evidence of a large anomaly
- Mineralisation remains open in all directions and RHI has gone so far as to it believes the anomaly could stretch 9km
- Exploration work in early 2024 will seek to confirm this
- Last traded at $4.71
Red Hill Minerals (RHI) has reported an effective extension of the gold system on-site its Pilbara-based Barkley prospect with RC drills hitting gold further out than previously known.
The latest round of drilling intercepted 4.1 grams per tonne (g/t) of gold over four metres from 65-69 metres.
The same hole also included a two-metre intersection of 6.6 g/t of gold from 67 metres.
Mineralisation open
Mineralisation at the prospect remains open in all directions. Meanwhile, soil sample results indicate a possible large gold anomaly travelling 2.2 kilometres.
According to the company’s geophysical interpretation, there is potential for the fault to extend more than nine kilometres.
That thesis will be tested in early 2024 with further work.
Management comment
“The company has interpreted a structure of approximately 9 kilometres in strike length, within which drilling has intersected high-grade gold in fresh rock,” RHI CEO Michael Wall said.
“Approximately 2.2 kilometres of this trend has been soil sampled and returned highly anomalous gold results from soil geochemistry. We will continue our exploration on this exciting prospect in 2024”.
The anomaly is believed to be associated with a northwest striking shear/fault related to the regional scale Deepdale fault.
RHI shares last traded at 4.71
