- Critical Resources (CRR) encounters further mineralisation and visual massive sulphides at the Gibsons prospect in NSW
- The mineralisation was encountered in the first hole of the program, which intersected an 8.54-metre interval from 95.30 to 103.84 metres
- The drill rig will now drill two additional holes to further test the Barkers lode, where high-grade mineralisation has been previously intersected
- Further drilling will now be undertaken at the Gibsons and Sunnyside prospects to confirm near-surface mineralisation and deeper targets to a 500-metre depth
- Critical Resources is steady on the market with shares trading at 4.2 cents
Critical Resources (CRR) has encountered further mineralisation and ‘visual massive’ sulphides at the Gibsons prospect in NSW.
The Gibsons prospect is part of the Halls Peak project, which lies approximately 45 kilometres southeast of Armidale in the New England Fold Belt.
This mineralisation was encountered in the first hole of the program, CRR21DD_01, which has been drilled to a depth of 141.6 metres.
An 8.54-metre interval of mineralisation, including massive sulphides, was intersected from 95.30 metres to 103.84 metres.
Samples will now be sent to the ALS laboratory in Brisbane for assaying.
Managing Director Alex Biggs commented on the findings.
“Further massive sulphide mineralisation in our first drill hole at Gibsons is an excellent result and start our drill program very positively,” Mr Biggs said.
“We are at the start of what we believe will be a transformational drill campaign for the company and the Halls Peak asset. The scale potential of Halls Peak is something we need to demonstrate and will be completing deeper drill holes later in the campaign to test this theory.”
The drill rig has now moved to holes CRR21DD_05 and CRR21DD_06 to further test the Barkers lode, where high-grade mineralisation has been previously intersected.
Further, a 14-hole drilling program has been proposed at Gibsons with a three-hole program planned for the Sunnyside prospect.
These holes have been designed to confirm the near-surface mineralisation and deeper targets to a depth of 500 metres.
Critical Resources was steady on the market, with shares trading at 4.2 cents at 12:10 pm AEDT.