- Critical Resources (CRR) intersects massive sulphide mineralisation in the first diamond drill hole at the Gibsons prospect in New South Wales
- Mineralisation has been found in the first 47 metres of the hole’s planned 140-metre depth
- Managing Director Alex Biggs says the company believes the initial findings are indicative of the broader Halls Peak system and it hopes to further define the potential of the asset
- The 2500-metre drilling program is ongoing and will be followed by a 1700-metre program at the Sunnyside prospect
- CRR shares are up 18.6 per cent to trade at 5.1 cents
Critical Resources (CRR) has intersected massive sulphide mineralisation in the first drill hole at the Gibsons prospect which is part of the Halls Peak project in New South Wales.
The company encountered the mineralisation in the first 47 metres of the planned 140-metre hole which is being drilled as part of a 2500-metre, 14-hole diamond drilling program at Gibsons.
This drilling effort is designed to confirm near surface mineralisation and deeper targets to a maximum depth of up to 500 metres.
The mineralisation encountered is very shallow with a narrow massive sulphide lens intersected at 6.4 metres. Some of the massive sulphide intervals intersected in the top 47 metres reportedly suggest similar mineralisation to that found in a previous hole drilled in December 2016.
Managing Director Alex Biggs commented on the initial observations.
“We couldn’t ask for a better start to our drilling campaign at Gibsons after intersecting massive sulphide mineralisation in our first drill hole,” Mr Biggs said.
“We believe that what we see here is indicative of the larger Halls Peak system and we will continue drilling with a view to define the scale and potential of this asset.”
Drilling is ongoing and cores will be sent to the ALS laboratory in Brisbane for assaying once the first hole is completed. Following drilling at Gibsons, the company will move to the Sunnyside prospect to drill three holes for about 1700 metres.
CRR shares were up 18.6 per cent to trade at 5.1 cents at 11:17 am AEDT.