- Significant gold mineralisation discovered in first completed hole
- Mineralisation IRG similar to Unity’s Ngot gold project and Emerald’s Okvau gold mine
- First drill hole tested a broad zone of gold-bearing veins exposed in historical open pits
- Four holes from the initially 21-hole diamond drill program completed
Unity Metals (ASX:UM1) has confirmed gold hits in its drilling results for the first hole completed at the O’Phlay gold project in eastern Cambodia.
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The hole is part of a planned 21 hole, 3,000m diamond drilling program, which is the first modern drilling ever conducted at O’Phlay.
MD, Craig Mackay, said the mineralisation at O’Phlay is intrusion-related gold (IRG) similar to Unity’s Ngot gold project and Emerald’s Okvau gold mine, 60km to the west.
However, no modern drilling had ever been conducted there despite the evident historical open-pit and underground gold mining.
“We are very excited about the results from our first hole in our maiden drilling at the O’Phlay project,” Mr Mackay said.
“Whilst we have recently discovered gold across the Ngot Project, the gold intersection of 40m at 1.9 grams per tonne (g/t) gold at O’Phlay is by far the best obtained by Unity in Cambodia to date. It demands immediate follow-up.”
The first hole was drilled directly beneath a broad zone of gold-bearing veins exposed in open pits at the Camp prospect, next door to a historical Vietnamese processing plant. It also tested a strong and coincident, north-south-trending, GAIP chargeability anomaly.
“There are two of these prominent GAIP chargeability anomalies that have been located in the eastern portion of the Camp prospect, that collectively extend over 1.8 km. We eagerly await the results of our planned drilling along these extensive target areas.
“More assays are expected in the coming weeks.”
Assays are pending for holes two to four.
Mr Mackay said given the highly encouraging results received from the first home, Unity intends to extend the planned drill program to follow-up the gold mineralisation at depth and along strike.
The bulk of the proposed drilling at O’Phlay is planned for the Camp prospect.
The drilling will test a series of robust targets identified by recent geophysical surveys and the company’s earlier geological mapping and geochemical sampling programs.
UM1 was up 60.0% to 16.0¢. Mkt cap $16.98M.
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