- Orange Minerals (OMX) has received the results from phase one drilling work at its Calarie project in NSW, with planning now underway for a follow-up program
- The company drilled 10 RC holes, totalling 1044 metres, in December last year, targeting mineralisation that extends over a north-south strike length of 600 metres
- Some of the best results include 21 metres at 4.5 g/t gold, including one metre at 48.77 g/t gold, and 14 metres at 3.4 g/t gold
- With the drilling results received, Orange Minerals will update the ore body model and begin planning a phase two follow-up drilling program
- Shares in Orange Minerals have ended the day 3.33 per cent in the red to close at 14.5 cents
Junior explorer Orange Minerals (OMX) has received results from phase one drilling work at its Calarie project in NSW, with planning now underway for a follow-up program.
The Perth-based company drilled 10 reverse circulation (RC) holes, totalling 1044 metres, in December last year, targeting the main zone of mineralisation that extends over a north-south strike length of around 600 metres.
Drilled adjacent to historical drill lines and at depths between 66 and 198 metres, four of these holes — OCRC001, 003, 004 and 007 — intersected structures associated with the old Lachlan mine.
Drill hole OCRC002, however, was abandoned at a depth of 36 metres due to “collar problems” but was later re-drilled as OCRC003. According to this morning’s announcement, significant mineralisation was intersected in all drill holes.
Some of the best results include 21 metres at 4.5 grams per tonne (g/t) gold in hole OCRC006, including one metre at 48.77 g/t gold, and 14 metres at 3.4 g/t gold in hole OCRC003.
“These first phase drilling results are extremely encouraging; they both verify a number of historical holes at Calarie and also provide us with confidence that mineralisation continues both at depth and along strike,” Managing Director David Greenwood said.
The Calarie area — which consists of two exploration licenses held under a 70 per cent earn-in joint venture with Godolphin Resources (GRL) — features an underground gold mine that produced roughly 39,000 ounces at 22 g/t gold between 1896 and 1908.
With the drilling results received, Orange Minerals will update the ore body model and begin planning a phase two follow-up drilling program. This will form part of the company’s efforts to calculate a maiden resource estimate.
“The results received give Orange strong confidence that high grade mineralisation extends to depth and planning will be undertaken for a number of deeper RC and/or diamond drill holes to test the Calarie mineralisation at depth,” the company said.
Shares in Orange Minerals ended the day 3.33 per cent in the red to close at 14.5 cents.