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- Soil sampling commences at Hot Spring high-priority zinc target
- Sits on same structural trend as world-class HYC and Teena zinc deposits
- Testing for similar surface signature to those deposits
- Results to sharpen drill targeting within interpreted sub-basin
Daly Resources (ASX: DLY) has commenced a systematic soil sampling program at the high-priority Hot Spring target within its 100%-owned Batten project in the Northern Territory.
Results from the survey will assist in refining priority targets ahead of future drill testing.
Executive chairman, Mike Edwards, said Hot Spring sits within the same major structural corridor that hosts the world-class HYC and Teena zinc deposits – among the largest and highest-grade zinc systems in the world. The prospect shares key geological similarities with these deposits, including the presence of the same host rock formation that contains the mineralisation at both HYC and Teena.
The soil program has been designed using a proven method that has previously helped identify buried zinc mineralisation elsewhere in the region.
“What makes this soil program compelling is the direct analogy with Teena, where historical work demonstrated that a deeply concealed sub-basin hosted zinc system can generate a coherent multi-element geochemical footprint at surface, interpreted to reflect fault-related metal leakage through the long-lived Bald Hills Fault system,” Mr Edwards said.
“At Hot Spring, we are testing the interpreted western continuation of that same structural corridor, which controls the position of the world class HYC and Teena deposits.
“A coherent geochemical response along this trend would materially strengthen our growth-fault and concealed sub-basin model and provide a much stronger basis for targeting drill hole positions- work that comes at an opportune time, with zinc prices trading near multi- year highs on the back of tightening global supply”
“Receiving environmental approval for drilling at Hot Spring is an important step forward for the project, and while we are still progressing the remaining approvals required, it means we are well placed to move efficiently toward drill testing once our target definition work is complete.”
The soil program samples are being collected at 100m centres along lines 400m apart across the projected growth fault zone, the adjoining concealed sub-basin and the existing airborne electromagnetic responses.
Multi-element results will be assessed for coherent metal and pathfinder anomalies. This exploration approach is supported by historical work at the nearby Teena deposit, where systematic soil sampling identified a coherent multi-element anomaly associated.
DLY was steady at 17.0¢ with a Mkt cap of $15.47M prior to market opening.
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