Join our daily newsletter At The Bell to receive exclusive market insights
Explorer Ore Resources (ASX:OR3) has uncovered as many as ten broad new prospective targets at the Randalls South tenure following a “comprehensive” hunt using both geophysical and surface geochemical data.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Disclaimer: This content has been prepared as part of a partnership with Ore Resources Ltd and is intended for informational purposes only.
These ten gold targets are associated with interpreted structural features in the Mt Belches banded iron formation in the Goldfields, including fold axes and limbs, cross-cutting structures, and newly-spotted extensions.
The Australian explorer ran a target-generative litho-structural interpretation of aeromagnetic data alongside a “detailed review” of surface geochemistry to get the data.
Many of the newly defined targets are coincident with gold-in-soil anomalies that clear ten parts per billion and remain underexplored; only some limited shallow historical drilling has ever been completed in the area. The same can be said for eighteen other zones of moderate-to-large scale anomalism nearby.
“Excitingly, several of these lito-structural targets are strongly coincident with the gold-in-soil anomalies and/or associated with previously identified historical drill intercepts,” Ore’s managing director, Nick Rathjen, said. “[Those] notable produced the three existing prospect areas at Waterloo, Nightcrawler, and Logan.”
Of most interest are the cross-cutting structures and subtle changes in magnetic responses across the prospects. Waterloo and Nightcrawler both have target zones that run up to six kilometres along a BIF limb just recently spotted.
The Logan prospect has a similarly interesting coincident structural feature, too, as well as some evidence that there’s gold-in-soil anomalism at the site.
These new targets “are set to be prioritised in Ore’s upcoming exploration work programmes at Randall,” the company declared today. A similar magnetic geophysical and surface geochemical data review is also wrapping up at Randalls soon, with results from that run expected to come in through January.
“Exploration at Randalls will complement our primary exploration focus at the Coolgardie Gold Projects,” Mr Rathjen added. Phase three RC drilling has been running at Miriam for some time; assays are due next month.
OR3 heads into Monday morning’s open at 6.8cps.
Join the discussion. See what HotCopper users are saying about Ore Resources Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
