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- First assays from western fluorite-bearing vein return up to 91.2% calcium fluoride
- High-grade fluorite assays returned over 700m of strike length
- Most extensive mineralised vein identified at the project to date
- Vein located more than five km west from historical area of focus
Daly Resources (ASX:DLY) has obtained significant high-grade assay results from the first batch of rock-chip samples collected at the Huckitta fluorite project in the Northern Territory.
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The company recently recommenced field activities of geological mapping, rock chip sampling and trial soil sampling at Huckitta with early mapping already identifying a previously untested fluorite-bearing vein within the western target area.
Executive chairman, Mike Edwards, said the vein has been mapped over more than 700m of strike, and initial rock-chip assay results from sampled outcrop have returned grades of up to 91.2% calcium fluoride (CaF2).
“These initial results provide an encouraging start to our renewed exploration at Huckitta. The identification of a fluorite-bearing vein extending for more than 700 metres, combined with assays of up to 91.2% CaF2, demonstrates the high-grade nature of the mineralisation and highlights the significant exploration potential of the project.”
As he noted to shareholders, this vein is outside the initial target area and significantly expands the potential scale of the project.
“With mapping continuing across the project area, we believe Huckitta has the potential to host a much larger fluorite system than previously recognised.
“We look forward to receiving further assay results and integrating these with our recently completed airborne geophysical survey to refine targets for the next phase of exploration.”
Historical fluorite exploration at Huckitta was largely focused on the eastern side of EL33271, where multiple fluorite-bearing veins exceeding 400m in strike length have been identified within an eight km long vein corridor. Previous rock chip sampling returned grades of up to 95.1% CaF2, while historical drill hole PH1 intersected 6.1m at 35.1% CaF2.
Geological mapping completed to date has also identified additional vein structures beyond the known fluorite occurrences, supporting an expansion of the interpreted priority target area.
Fluorite is prized across heavy industry and optics with its main industrial use is as a flux in steel smelting to lower slag melting points, while the chemical sector utilises it to manufacture hydrofluoric acid for refrigerants and teflon.
DLY was steady at 20.0¢ with a Mkt cap of 17.29M prior to markets opening.
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