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- Octanex (OXX) begins geochemical lag sampling at the Sefton Gold Project in the Eastern Goldfields region of Western Australia
- This program is collecting reconnaissance lag samples from untested areas as well as infilling previously identified areas of anomalism
- Octanex hopes it will define “kilometre-scale” gold and pathfinder anomalies that it can follow up with aircore and rotary air blast drilling in 2022
- Sampling is expected to take around three weeks and the minerals explorer will use the results to inform the next phase of drilling
- Company shares are up 129 per cent to trade at 5.5 cents
Octanex (OXX) has begun a geochemical lag sampling program at the Sefton Gold Project in the Eastern Goldfields region of Western Australia.
The Sefton Gold Project covers 2585 square kilometres in an area which has seen little modern exploration. The company considers this area highly prospective for the discovery of a major gold resource.
The wide-spaced program aims to collect reconnaissance lag samples over untested areas of the project and infill lag sample areas previously identified as gold and copper-gold anomalies. Infilling the anomalies is designed to better define them.
This program follows pleasing results from previous lag sampling with 31 samples returning values above one part per billion (ppb) gold and 10 grading above 1.5ppb gold.
Octanex hopes it will define “kilometre-scale” gold and gold-pathfinder anomalies that it can follow up with bedrock testing through aircore and rotary air blast drilling.
Executive Director Rae Clark was pleased to have begun the field work program.
“We are excited to be sending a field crew out to the Sefton region again this field season and look forward to being able to uncover more mineralised structures.”
The minerals explorer expects the sampling program will take around three weeks to complete and the results will be used to design follow-up drilling in 2022.
Company shares were up 129 per cent to trade at 5.5 cents at 11:29 am AEST.