- Australasian Gold (A8G) completes its first diamond drilling program at the May Queen gold project in Queensland
- Drilling began in mid-June with work designed to follow up on historical drilling which identified high-grade gold intervals
- While results are yet to be received, hole five intersected a 40-metre alteration zone with sulphides visible from 150 metres downhole
- Samples are currently being assayed and results are expected in four to six weeks with a more detailed announcement to be made then
- Australasian Gold is steady on the market with shares trading at 14.5 cents at 2:13 pm AEST
Australasian Gold (A8G) has completed its first diamond drilling program at the May Queen gold project in Queensland.
Drilling began in mid-June with work designed to follow up on historical drilling which identified high-grade gold intervals.
Work also aimed to test the existing mineralisation at depth and along strike as well as looking for potential parallel structures.
Over 1000 metres of diamond drilling was undertaken across five holes with work completed safely and on schedule.
While results are yet to be received, hole MQD0005 intersected a 40-metre alteration zone with sulphides visible from 150 metres downhole.
Samples are currently being assayed and results are expected in four to six weeks with a more detailed announcement to be made then.
Managing Director Dr Qingtao Zeng is pleased with findings so far and is excited to receive more thorough ones.
“We are excited with the alteration and potential mineralisation revealed by our diamond drilling program, pending the assay results,” Dr Zeng commented.
“Visual observation indicates the existence of copper sulphides and we are eager to receive the gold and other element assays soon.
“We are seeing more and more evidence to indicate it is likely that there is a porphyry system underlying the May Queen project.”
Australasian Gold was steady on the market with shares trading at 14.5 cents at 2:13 pm AEST.