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Auravelle Metals (ASX: AUV) has identified multiple areas considered to be favourable structural locations for gold mineralisation at the Nuckulla Hill and Tunkillia North projects in South Australia.
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The company is now preparing to commence RC drilling at the advanced Sheoak prospect next month, with regional aircore testing of the new targets to commence soon after.
The new gold targets were discovered following a recent detailed regional structural targeting review of the two projects undertaken by technical consultant, Gavin Daneel.
His work included a targeting review to refine the current geological interpretation using available local and regional datasets, including historical interpretations, drilling, magnetics, radiometrics and gravity
MD, Andrew Muir, said the study highlighted the importance of a number of geological features which may be favourable hosts for gold mineralisation.
“The regional structural targeting review has provided further evidence that the 40km strike length of the Yarlbrinda Shear Zone within Auravelle’s tenements has exceptional potential to host multiple gold systems, many of which remain untested by drilling,” Mr Muir said.
“Encouragingly, several structural targets are coincident with gold anomalies identified in both recent and historical soil sampling. These coincident targets will be prioritised for upcoming drilling.
“Together, the structural targeting and soil sampling programs have significantly expanded the inventory of prospective gold targets at the Nuckulla Hill Project.”
Recent RC drilling returned significant results including 28m at 3.4 grams per tonne (g/t) from the Sheoak prospect.
“The extensive pipeline of targets underscores the outstanding prospectivity of the Yarlbrinda and its potential to deliver additional significant gold discoveries,” Mr Muir told shareholders.
Auravelle has identified that several structural targets coincide with gold and/or silver anomalies identified from either its own or historical soil sampling.
“The convergence of these two different and independent datasets highlights multiple overlapping areas, upgrading the priority of these targets.
“Several of these areas have already been cleared by heritage survey, and will be tested using first-pass aircore drilling in coming months, following completion of the pending Sheoak RC program.”
AUV is up 5.88% to 1.8¢. Mkt cap $9.030M.
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