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Bubalus Resources Ltd (ASX:BUS) has discovered a series of notable gold and antimony anomalies during a soil sampling program at its Crosbie North prospect in Victoria.
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The company took 380 samples during the program, generating several anomalies across the two metals, with peak values of 34 parts per billion (ppb) of gold, and 158 parts per million (ppm) of antimony in soil.
These latter results are supported by previous rock chip samples which showed 12.1 grams per tonne of gold and 2.02% antimony.
Bubalus’ Crosbie licence is 18 kilometres from Agnico Eagle’s (NYSE:AEM) Fosterville gold mine and 20km from Mandalay Resource’s (TSX:MND) Costerfield gold mine.
The former is significant since the exploration at Crosbie North is focused on gold and antimony found in folded and faulted metasediments of the Castlemaine Group, with the latter being analogous to Fosterville.
A second target area within the licence – Crosbie South – will be subject to drilling later this month, seeking info on an intrusion-related gold system style of mineralisation.
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Before these latest results, Bubalus had already identified chargeability anomalies and high-grade surface rock chips at Crosbie South; these have helped to guide the drilling program in terms of targets.
Bubalus shares have been trading at 15 cents today.
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