- Shree Minerals (SHH) uncovers “significant” mineralisation following drilling at the Rock Lodge prospect within its Lachlan Fold Belt project in New South Wales
- The company undertook reverse circulation drilling in April that intersected multiple gold, silver, and base metal lenses
- The deepest hole intersected four separate mineralised zones, returning assays including two metres at 2.13 grams of gold per tonne
- Once all laboratory results are released, the company plans to drill two deeper diamond holes and complete a downhole electromagnetic survey (DHEM) in the hopes of finding wider massive sulphide mineralisation
- Shree Minerals last traded at 1.1 cents on May 30
Shree Minerals (SHH) has uncovered “significant” mineralisation following drilling at the Rock Lodge prospect within its Lachlan Fold Belt project in New South Wales.
The company undertook reverse circulation drilling in April, testing prioritised drill targets coincident with very anomalous soil and rock chip geochemistry.
The drilling intersected a wide zone of stacked vertical lenses of polymetallic mineralisation at the prospect, hitting multiple gold, silver, and base metal lenses.
The deepest hole intersected four separate mineralised zones from 75 metres to 99 metres downhole, returning assay results including two metres at 2.13 grams of gold per tonne (g/t) and two metres at 2.12 g/t gold.
At a depth of 102 metres, the rocks were still showing signs of pervasive hydrothermal alteration. The company said this suggested multiple zones were to be expected in future drilling programs.
Shree said once all laboratory results were released, it planned to drill two or three deeper diamond holes and complete a downhole electromagnetic survey (DHEM) to search for off-hole conductors in the hopes of finding wider massive sulphide mineralisation.
Diamond drilling will also enable the collection of orientated structural data, including dips and strikes of mineralised veins. Shree said it would use this to plan for future drill holes and calculations of the true widths of mineralisation.
Shree Minerals last traded at 1.1 cents on May 30.