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- Shree Minerals (SHH) identifies new gold targets at the Ulysses South and Golden Chimney tenements in Western Australia
- Despite being impacted due to alluvial cover, auger soil sampling at Ulysses South intersected up to 273 parts per billion gold
- Soil sampling was also undertaken at Golden Chimney and work was successful in identifying multiple gold anomalies
- Shree will undertake further sampling at Ulysses South and Golden Chimney to better define the gold anomalies and aid in further drilling programs
- Shares in Shree are up 10 per cent, trading at 1.1 cents at 1:12 pm AEST
Shree Minerals (SHH) has identified new gold targets at the Ulysses South and Golden Chimney tenements within the Kookynie West Project.
The Kookynie West Project lies south of Leonora in the West Australian Goldfields.
Ulysses South
Gold mineralisation at Ulysses South is hosted by quartz-dolerite units within several differentiated dolerites.
Auger soil sampling was undertaken over the entire tenement. However work was impacted due to alluvial cover in some locations but despite this, up to 273 parts per billion (ppb) gold was returned.
Rotary air blast (RAB) drilling was completed and intersected four metres at 0.16 grams of gold per tonne (g/t) from 43 metres but was not followed up on.
Golden Chimney
The Golden Chimney tenement lies roughly five kilometres south of Ulysses South and there are many lithological and structural similarities between them both.
Auger soil sampling was also undertaken and focused on testing the dolerite units, and work was effective at identifying gold anomalies.
These anomalies require closer spaced sampling to improve the outline.
Shares in Shree were up 10 per cent, trading at 1.1 cents at 1:12 pm AEST.
