- Austin Metals (AYT) discovers gold in three new prospects within the Shadow target area of its namesake gold project in WA
- Of the three, the Everlong prospect is the largest, containing a 800-metre by 200-metre zone with mineralisation hosted in mafic rocks — a first for the Austin project
- Austin Metals says the mafic and ultramafic host rocks are very similar to those at Musgrave Minerals’ (MGV) Break of Day and Lena deposits to the north
- The company plans to conduct follow up aircore drilling and is also waiting on further assays from the recent program
- AYT shares have ended the day 12 per cent in the red to close at 2.2 cents
Austin Metals (AYT) has received preliminary results from an aircore drilling program at its Austin gold project in Western Australia.
The company drilled 193 holes, for 5168 metres, at the Shadow area to define shallow, low-level anomalies.
Positively, the program uncovered gold in three new prospects within the Shadow area including the Everlong, Breakout and Generator prospects.
The Everlong Prospect contains a large, 800-metre by 200-metre zone which remain open to the southwest and at depth.
Results from this area include six metres at 1.2 g/t gold from 24 metres, and 30 metres at 0.2 g/t gold from 15 metres including six metres at 0.4 g/t gold.
The company said the mineralisation at Everlong is hosted in mafic rocks which is a first for the Austin project and it’s believed that mafic rocks are likely to be the favourable host rock for gold deposits across the project.
Results from the Generator prospect include two metres at 0.74 g/t gold from 40 metres and an upper zone of four metres at 0.1 g/t gold from 28 metres.
Lastly, drilling at the Breakout prospect intersected four metres at 0.1 g/t gold from 32 metres. Breakout lies on a prominent gravity break feature that may extend to the southeast and open to the northwest up to the boundary of Musgrave Minerals’ (MGV) Break of Day deposit.
“The discovery of ore-grade gold and significant widths of gold bearing quartz veins at the Everlong prospect represents a game changer for the Austin project and confirms that our new strategy is clearly highly effective,” Technical Director Leo Horn said.
Mr Horn said the discovery of gold hosted in mafic rocks for the first time was also an important outcome.
“This represents a significant opportunity given the large amount of mafic rocks on our tenements and the fact that these rocks host Musgrave Minerals high grade Break of Day group of Deposits, directly adjacent to Austin’s ground.”
Austin is waiting on assays from the Mt Sandy, Brunwick Hill and Brians areas and further aircore drilling is planned to target the mafic and ultramafic rocks.
AYT shares ended the day 12 per cent in the red to close at 2.2 cents.