- Shree Minerals (SHH) has lodged a new tenement application over the Rock Lodge Project in the Lachlan Fold Belt of New South Wales
- The project contains high-grade gold associated with structurally controlled massive sulphide veins
- In the last 50 years, Alt Resources and Southern Gold are the only companies who conducted exploration
- These programs yielded significant gold, silver, bismuth, copper and zinc results however they were never followed up
- Shree plans to conduct exploration and fieldwork which will compile historic data and follow up on previous results
- Company shares are up 18.2 per cent on the back of this news and are trading for 1.3 cents
Shree Minerals (SHH) has lodged a new tenement application over the Rock Lodge Project in the Lachlan Fold Belt of New South Wales.
The Rock Lodge Project cover 75 square kilometres and is located 35 kilometres south of Cooma. It’s prospective for orogenic, intrusion-related gold systems and skarn gold mineralisation.
Pleasingly, the project displays high-grade gold mineralisation associated with structurally controlled massive sulphide veins.
“The new tenement application over the Rock Lodge Project in the Lachlan
Fold Belt is a very exciting opportunity for Shree Minerals and reaffirms Shree’s strategy of building a high-quality portfolio of exploration projects in prospective terranes in Australia,” Executive Director Sanjay Loyalka said.
Rock Lodge has only been explored by two companies, Southern Gold and Alt Resources, in the last 50 years. While their exploration programs progressed to reverse circulation (RC) and diamond drilling, the results weren’t followed up.
In 1985, rock chip sampling returned up to 11.1g/t gold which was followed up by diamond drilling. The diamond holes intersected eight metres of massive sulphides and 4.28g/t gold, 35g/t silver, 0.79 per cent copper and 13.5 per cent zinc.
In 2018, Alt Resources conducted RC drilling which yielded 2.7g/t gold, 11.8g/t silver, 300g/t bismuth and 0.48 per cent copper.
Alt also identified IP anomalies in 2016 and 2017, however these were never followed up.
Once the exploration licence has been granted, Shree Minerals is planning to conduct an exploration program which will include compiling historic data as well as new geological mapping and rock chip sampling.
Company shares are up 18.2 per cent on the back of this news and are trading for 1.3 cents at 1:55 pm AEDT.