- ActivEX (AIV) completes its reverse circulation drilling program at two prospects within the Gilberton Gold Project in North Queensland
- A total of 31 drill holes were completed across the Mt Hogan and Charlie’s South prospects, testing the extents of gold mineralisation and twin historical drilling
- AIV is “highly” encouraged by the results which are said to confirm the high grade and widths of the gold mineralisation at Mt Hogan
- Plans are in place to test additional auriferous lodes at depth, in combination with further drilling along the 1.5-kilometre trend
- Shares have been trading grey at 16 cents at 4:12pm AEST
ActivEX (AIV) has completed its reverse circulation drilling program at two prospects within the Gilberton Gold Project in North Queensland.
The project t is situated in the Georgetown Province in northeast Queensland, within an area considered prospective for several metals and a wide range of deposit styles.
A total of 31 drill holes for 1881 metres of drilling was completed across the Mt Hogan and Charlie’s South prospects with the aim of testing the extents of gold mineralisation and to twin historical drilling.
The company said the results received so far are “highly encouraging” and reportedly confirm the high grade and widths of the gold mineralisation at Mt Hogan.
Specifically, one drillhole at Mt Hogan returned two metres at 4.27 grams per tonne (g/t) gold from 80 metres and remains open up and down dip.
Moreover, AIV said the latest results highlight significant strike potential between the Mt Hogan and Charlies South prospects.
Managing Director Mark Derriman said the drilling to date has been shallow and widely spaced, and deeper drilling is planned to test for additional auriferous lodes at depth in combination with further drilling along the 1.5-kilometre trend.
Additionally, the company plans to explore for gold and base metal mineralisation hosted mafic dykes.
Shares were trading grey at 16 cents at 4:12pm AEST.