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- New results confirm Huckitta fluorite system is significantly larger than previously understood
- Soil sampling defines strong fluorine-in-soil anomalism well beyond known outcrop
- New high-grade rock chips extend the fluorite system further west
- Regional soil survey will now map full extent of the system
Daly Resources (ASX: DLY) is set to ramp up exploration at the Huckitta fluorite project in the NT where new rock-chip assays have significantly highlighted its upside.
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Results obtained from a soil line designed to traverse the entirety of the prospective stratigraphy show the fluorite system extends well beyond the limits of known surface mineralisation and previous rock-chip sampling.
Executive chairman Mike Edwards, said the results further demonstrate the potential scale of the Huckitta fluorite system beyond what was previously identified by surface rock-chip sampling, with coherent fluorine-in-soil anomalism identified across areas of limited or no outcrop.
A new fluorite-bearing vein identified through rock-chip sampling has also extended the known fluorite system further to the west.
“These results are a significant step forward in our understanding of Huckitta, and support our view that this fluorite system is considerably larger than what we’ve been able to see at surface,” Mr Edwards said.
“Until now, our picture of Huckitta has largely been defined by the fluorite veins we can physically see and sample. What these soil results tell us is that the system extends well beyond that – including into areas with no outcrop at all – and that the true scale of Huckitta may be substantially greater than previously understood.
“This is an important validation of our exploration strategy.”
Mr Edwards told shareholders soil geochemistry has proven itself as an effective tool for tracing this system under cover, and the company will now roll out a systematic regional soil survey across the broader prospective geology.
“Combined with our rock-chip sampling, geological mapping and recently acquired high-resolution aeromagnetic data, this work will allow us to properly define the scale of the system and rank the highest-priority targets ahead of our maiden drilling campaign.
“Our aim is to identify the strongest parts of the system – particularly areas where multiple fluorite-bearing veins may be stacked or concentrated within favourable structural positions, and demonstrate continuity along strike. This integrated approach will allow us to systematically rank targets and focus our maiden drilling campaign on those offering the strongest combination of grade, vein concentration, structural continuity and scale.”
Mr Edwards said the company will now undertake a regional-scale soil geochemistry program to systematically define the broader fluorite system, identify areas of higher vein concentration and continuity, and distinguish the highest-priority targets for the maiden drilling program at the Huckitta fluorite project.
With soil geochemistry now demonstrated as an effective tool for target generation, Daly will undertake a systematic regional soil survey grid across the entire prospective basement geology within Daly’s tenure. The soil results will be integrated with the recently completed high-resolution magnetic and radiometric surveys.
The ultimate objective is to define the highest-priority targets for the company’s maiden drilling programme and determine whether the extensive surface fluorite occurrences form part of a larger, structurally controlled system with significant subsurface continuity.
DLY was steady at 14.0¢. Mkt cap $12.74M.
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