- Ragusa Minerals (RAS) completes underground reconnaissance work at the Tiberius prospect within the Lonely Mine Gold Project in Zimbabwe
- The company has collected and analysed 13 samples from the mineralised reef — all of which returned high grades
- Samples peak at 221g/t gold and other significant values include 68g/t, 49.5g/t and 45.8g/t gold
- Ragusa plans to follow up on these results with drilling which will test the depth and strike extensions of the Tiberius lode
- Company shares were up 6.1 per cent to trade at 8.7 cents
Ragusa Minerals (RAS) has wrapped up underground reconnaissance work at the Tiberius prospect which is part of the Lonely Mine Gold Project in Zimbabwe.
This work included surveying and channel and rock sampling to define mineralisation and outline priority targets for drilling.
Ragusa Minerals collected and analysed 13 samples from the mineralised reef which comprises a quartz carbonate fissure with pyrite, chalcopyrite and massive and disseminated sulphides.
All 13 samples returned high grades between 2.42 grams of gold per tonne (g/t) and 221g/t gold. Other significant results include 68g/t, 49.5g/t and 45.8g/t gold.
Following the reconnaissance work and these positive results, Ragusa’s geological consultants determined the Tiberius reef is a likely splay from the main Peter Pan regional shear zone that trends northeast-southwest.
Ragusa plans to follow up on these results with drilling which will test the depth and strike extensions of the Tiberius lode.
The company will continue reviewing additional mineral project opportunities to enhance its portfolio and add value.
Company shares were up 6.1 per cent to trade at 8.7 cents at 12:34 pm AEST.