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Enegex (ASX:ENX) has picked up evidence of a new gold anomaly at its Three Springs gold tenement in the West Australian Wheatbelt region, following a program of soil sampling.
The company rolled out broad-spaced reconnaissance soil geochemistry at the project – which is located 20 kilometres east of a town of the same name – with this picking up an area measuring more than 1km by 0.8 km where soil geochemical values were significantly higher than regional background levels.
This includes values up to 49 parts per billion (ppb) of gold (Au), a stark contrast to background gold values of less than 5 ppb Au which have been found through regional sampling in the area.
Given the fact the anomaly is open along strike, the company aims to progress with follow-up sampling and geological mapping (to begin this week, subject to farm activity).
The wide-spaced nature of the sampling program – which had a sample density of 400m x 200m – means Enegex will now have to tighten the latter to a minimum 200m line-spacing and conduct mapping of any nearby exposed geology, to better define the anomaly.
Discovery of the anomaly traces back to first-pass auger drilling done in 2024 which focused on under-explored magnetic trends which were believed to represent folded greenstone. It found several anomalous gold results in the tenement’s northeast, which prompted the recent sampling work.
Enegex shares have been trading at 1.2 cents.
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