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- Aircore drilling confirms and extends +3km long anomalous gold zone
- Multiple targets identified for follow up aircore and RC drilling
- RC drilling remains on track to commence in this quarter
- Targeting selected aircore results alongside infill and extensional opportunities
Auravelle Metals (ASX: AUV) has confirmed the existing anomalous gold zone and successfully identified new priority targets for deeper RC drilling with recent shallow aircore drilling at the Nuckulla Hill gold project in South Australia.
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The program tested several structural and geochemical targets within the Yarlbrinda Shear Zone, including the early- stage Sheoak North, Myall and Sauna prospects. The results from the four-metre composite sampling returned multiple significant assays, with several +1g/t intersections. The drilling also confirmed the +3km long anomalous gold zone from Sheoak to Sheoak North and Myall and extended the zone further north. The trend remains open at depth, to the north and, south.
Selected new targets will be tested in the upcoming RC program, which will also infill and extend known mineralisation at Sheoak and Bimba. The commencement of the RC program remains on track with the rig expected on site the next few weeks.
“Exciting new gold drill assays from Auravelle’s aircore program at Nuckulla Hill extend the Sheoak gold trend and identified new targets for follow up drilling,” MD,Andrew Muir, said.
“The grades and widths returned are comparable to those from shallow drilling at Sheoak, reinforcing the prospectivity of these new targets and supporting further investigation through RC drilling.
“With the next phase of RC drilling expected to commence soon, we are looking forward to testing these new targets at depth while continuing to build our understanding of the mineralisation at Sheoak and Bimba through infill and extensional drilling.”
Auravelle’s recent 34-hole aircore drilling program targeted the early-stage Sheoak North, Myall and Sauna gold prospects within Nuckulla Hill. All three prospects are located within the highly prospective Yarlbrinda Shear Zone. The program targeted new structural and geochemical anomalies and tested strike extensions to known anomalism.
All holes were assayed as four-metre composites, with samples returning gold greater than 0.1g/t Au to be resampled at one metre intervals to better define the distribution and extent of gold anomalism.
Despite the early-stage and shallow nature of the program, gold anomalism exceeding 0.1g/t Au was intersected in approximately one-third of the holes, highlighting multiple areas for further investigation. These results provide a basis for identifying priority targets for follow-up drilling to test the potential for gold mineralisation at depth.
AUV was up 16.7% to 0.7¢. Mkt cap $5.543M.
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