Join our daily newsletter At The Bell to receive exclusive market insights
Vita Resources (ASX:VTA) will soon be testing a structurally controlled target, with a drilling campaign about to begin at the explorer’s newly acquired Ninnis gold project in Western Australia.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The company acquired the project in November after a technical review, which also assisted in the design of a maiden auger drilling campaign targeting a geological setting consistent with major gold discoveries in the region.
NEC, Gavin Rutherford, said the company is following up on work undertaken by previous Ninnis project owners, which included widely spaced, systematic soil sampling beneath transported alluvial cover.
“This approach differed from earlier shallow surface sampling programs, which appear to have masked underlying gold anomalism in the area,” he said.
“Deeper sampling targeting the soil and Wiluna hardpan interface zone materially improved the geological understanding of the Ninnis project and defined coherent gold anomalism extending for at least four km of strike and exceeding 400m in width along the Celia and Ninnis fault corridors.”
Mr Rutherford added: “Importantly, this anomalous trend does not appear to have been historically recognised prior to that work.”
The Vita chief said the scale and demonstrated fertility of the structural system at Ninnis materially enhance the prospectivity of the project’s structural corridor.
“The company’s forthcoming maiden auger campaign represents the first coordinated and systematic follow-up of this structurally controlled target under current ownership,” he explained today.
“Given the scale of the anomalism and its favourable structural setting, the board considers this programme an important step in assessing the potential for a gold system within a proven mineralised belt.”
Vita’s maiden auger drilling program at Ninnis is expected to be made up of approximately 1,200 holes and has been designed to infill the previous gold-in-soil results generated from the very widely spaced sub-surface soil sampling completed by the previous owner-operator.
Located ~30km west of Laverton in the Eastern Goldfields, Ninnis covers 25 sq. km in a similar geological setting to several multi-million-ounce gold discoveries, including Genesis Minerals’ (ASX:GMD) Mount Morgans centre.
Those varied deposit types are approximately six kilometres south of Ninnis and cluster around the regional Celia and Ninnis project fault systems.
Upcoming drilling will be followed by assaying and geochemistry review.
VTA is steady at 4.2c today.
Join the discussion: See what HotCopper users are saying about Vita Resources Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
