- Orange Minerals (OMX) hits mineralised volcanic breccias in all recent drill holes completed at its Wisemans Creek project in New South Wales
- The latest results come from phase one drilling completed in May, with the four holes drilled hosting breccias with quartz veining associated with gold and base metals
- The pick of the assays was a 24.6-metre intersection grading 1.3 grams of gold per tonne (g/t gold) from 34.4 metres downhole, which remains open along strike and at depth
- Given the results, OMX is now planning surface mapping, soil geochemical work, geophysics and another round of drilling to target strike and depth extensions
- Shares in Orange Minerals are down 4.76 per cent to 8 cents per share at 10:28 am AEST
Orange Minerals (OMX) has hit mineralised volcanic breccias in all recent drill holes completed at its Wisemans Creek project in New South Wales.
Back in May, the company completed four drill holes as part of its first phase of drilling to validate historical results and test for further extensions to the mineralisation in the area.
The breccias intersected in this round of drilling contained quartz veining, strong sericite and carbonate alteration, and associated gold and base metal mineralisation.
Of the gold assays, Orange highlighted drill hole OWCD004, which returned 24.6 metres grading 1.3 grams of gold per tonne (g/t gold) from 34.4 metres downhole, including a seven-metre zone at 2.2 g/t gold from 39 metres.
The mineralisation in this drill hole, which OMX Managing Director David Greenwood said was particularly exciting, remains open along strike and at depth.
“The number of volcanic breccias intersected is extremely encouraging, indicating a substantial hydrothermal system at Wisemans, which we have now confirmed contains significant gold,” Mr Greenwood said.
Assays for base metals and silver were also returned, with results including one metre grading 19.8 g/t silver and 1.3 per cent lead from 98 metres downhole and nine metres at 6.6 g/t silver and 0.2 per cent lead from 76 metres.
On the back of the new results, Orange is now planning its next round of exploration, which is set to include surface mapping, soil geochemical work, geophysics and another round of drilling to target strike and depth extensions.
Shares in Orange Minerals were down 4.76 per cent to 8 cents per share at 10:28 am AEST.