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- Minerals 260 (MI6) is hitting the gas on its $6.7 million exploration program at the Moora Project in WA
- Diamond core drilling began at the Angepena gold prospect in November to follow-up intersections reported earlier this year
- New assays are still pending, however visual logging indicated previously reported gold intersections may be related to two different styles of mineralisation
- A further seven diamond core holes totalling around 2,000 metres are planned at Angepena, with the program due for completion in January 2022
- Minerals 260 last traded at 49 cents on December 6
Minerals 260 (MI6) said it plans to accelerate its $6.7 million exploration program at the Moora Project in Western Australia.
Diamond core drilling began at the Angepena gold prospect in November, with six holes drilled to 1201 metres to follow-up intersections reported earlier this year. Results included 43 metres at 1.8 grams per tonne (g/t) gold from 198 metres, including 18 metres at 3.9 g/t gold from 211 metres.
New assays are still pending, however visual logging indicated previously reported gold intersections may be related to two different styles of mineralisation.
“While it is early days, we are very encouraged by what we are seeing in the Angepena drill core,” Minerals 260 Managing Director David Richard said.
A review of structural data will be completed to determine true widths and the relationship between the two different styles of mineralisation. The company said it will also start litho-geochemical and petrological analyses.
“Our objective is to build on the exploration data collected so far and systematically work towards the opportunity for a significant discovery,” Mr Richard said.
A further seven diamond core holes totalling around 2000 metres are planned at Angepena, with the program due for completion in January 2022.
Meanwhile, a reverse circulation (RC) drilling program of 35 holes and roughly 5000 metres has also recently begun to test targets spatially associated with the Mt Yule magnetic anomaly.
Other exploration planned for the next six months at Moora includes an 11,000 line kilometre detailed aeromagnetic survey and 35 line kilometres of moving loop electro-magnetics.
Around $6.7 million is currently budgeted for the first 12 months of exploration activities.
Minerals 260 last traded at 49 cents on December 6.
