- Final gold assays confirm second shoot at Sabre
- Hole mineralised over most of its length
- Shoot 2 has now been intersected in four holes drilled by itech
- iTech interprets Sabre shoots as higher-grade zones along a single controlling shear zone
Itech Minerals (ASX: ITM) has received positive gold assays from the second phase of reverse circulation (RC) drilling at the Sabre prospect, part of the Reynolds Range gold-antimony project in the Northern Territory.
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The results have expanded the second gold shoot (Shoot 2), which was reported last week, as Itech ramps up its understanding of the promising prospect.
“The final assays from Sabre have really added to our excitement about the potential of the second gold shoot.” MD, Mike Schwarz, said.
“In particular, the receipt of the remaining assay results has extended the previously reported mineralised intercept in hole SBRC26-008 to 29 metres at 2.36 grams per tonne (g/t) gold, providing further evidence of the strength and extent of this emerging shoot.
“Equally encouraging, our deepest hole into Shoot 2 has returned 10 metres at 2.17 g/t gold, with mineralisation remaining open at depth.
“What is particularly exciting is that we believe both shoots are part of the same mineralised shear zone, yet the ground between them remains largely untested below 120 metres. This presents a significant opportunity to extend the mineralisation at depth, establish continuity between the two shoots and potentially build a much larger gold system at Sabre.”
Mr Schwarz said the new results are from 2.0m to 5.0m composite samples, taken over the intervals that were not selected for 1.0m sampling.
“They fill the gaps between the 1.0m samples reported last week and, in holes SBRC26-008 and SBRC26-010, extend the principal Shoot 2 intercepts.”
Mr Schwarz told shareholders the final assays make Shoot 2 more substantial. In particular the intercept in hole SBRC26-008 has an increase of approximately 60% on a grade-by-length basis.
The deepest hole into the shoot, SBRC26-010, now carries 10m at 2.17 g/t gold approximately 150m below surface in place of a single metre.
Meanwhile, hole SBRC26- 011 intersected the shoot up-dip of SBRC26-008, returning 8.0m at 0.83 g/t gold from 48m.
Shoot 2 has now been intersected in four iTech holes over approximately 110m of vertical extent, from approximately 45m to 155m below surface. It is interpreted to continue to surface, where outcrop rock chips returned up to 182 g/t in July 2024.
Metallurgical test work is currently underway to determine gold and antimony (Sb) recoveries and the potential for future reporting of a gold equivalent.
ITM was steady at 4.6¢ with a Mkt cap of $10.98M.
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