- Estimated true thickness of the principal mineralised shear increased by approximately 57%
- Remains open at depth and along strike to the north
- Five of six maiden drill holes intersect polymetallic mineralisation
- Principal near-term exploration focus now shifts to advancing Black Hammer project
Exultant Mining (ASX: 10X) has extended a key target at depth at the Balerion prospect within the company’s Peak View project in New South Wales.
New assay results have confirmed the visible sulphides previously reported from the three holes contain silver- zinc-lead-copper(+/-gold) mineralisation.
The results also support the company’s interpretation that the mineralised shear zone increases in thickness down dip and remains open.
All six holes completed during the maiden Balerion program tested their intended geophysical and geological target positions. Five of the six holes intersected zinc-lead-copper-silver(+/-gold) mineralisation of varying widths and grades.
Highlight results included 11.75m at 9.12 grams per tonne (g/t) silver, 1.43% zinc and lead, 0.12% copper and 0.11 g/t gold from 240.15m containing 0.8m of core loss.
“When we completed the maiden Balerion drilling program, we flagged that assays were pending from three remaining holes. Those results are now in, and they confirm that the sulphides contain meaningful polymetallic grades, with locally high-grade intervals up to 65 g/t silver and 10% combined zinc-lead,” executive chairman, Brett Grosvenor, said.
“Importantly, the data shows the mineralised zone is getting thicker at depth, increasing approximately 57% in estimated true thickness over 100 metres down-dip, and it remains open beneath our deepest holes and along strike to the north.
“Five of six holes hitting mineralisation in a maiden program is a strong validation of our targeting approach.
“We will now integrate these results into an updated 3D geological model. As flagged in our last update, the team has already redeployed to Black Hammer, which remains our principal near-term exploration focus in the Macquarie Arc.”
The company will proceed to document potential down-dip and northern strike extensions to provide a technical basis for evaluating future work at Balerion, while the principal near-term exploration focus remains on advancing the Black Hammer project.
10X was down 13.3% to 13.0¢ with a Mkt cap of $5.61M.
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