- Significant assay results returned from first two RC holes at Springfield.
- Multiple higher-grade zones encountered within a broader mineralised footprint.
- Pending assays for 25 holes expected over next six weeks.
Xpedra Resources (ASX: XPD) has today received positive initial assay results from its maiden drill program at the Springfield gold deposit in the prolific Lachlan Fold Belt in New South Wales, with the results from the initial two holes identifying wide, shallow gold intersections from a program designed to systematically test and extend known zones of gold mineralisation.
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The explorer’s main focus was on a 1,700-metre-long mineralised intrusion, alongside the testing of new targets along the mineralised corridor.
“We are delighted with the compelling assay results returned from the initial two holes drilled as part of what is the first drilling program to be undertaken at Springfield in more than 25 years,” MD, Scott Funston, said.
“The intersection of 36m at 1.84 grams per tonne (g/t) gold, which includes higher-grade intervals of 13m at 3.10 g/t gold and eight metres at 2.36 g/t gold, from only 19 metres depth, reinforces our considerable confidence in the scale potential of the system and the opportunity to define a significant, shallow, gold deposit at Springfield.
“We look forward to receiving assays from another 25 completed drill holes in the coming four to six weeks, following which we’ll plan considerably more drilling at Springfield.”
Drilled to a total depth of 90 metres, hole SFRC001 returned an intercept of 36 metres at 1.84 grams per tonne from 19 metres, which included 13 metres at 3.1g/t from 20 metres and eight metres at 2.36 g/t from 44 metres.
SFRC001 was drilled to test the down-dip extension of the central portion of mineralisation that had been outlined through historical drilling. The hole successfully extended the mineralisation down-dip to the west. Several holes have subsequently been drilled in the program to further test the down-dip extension of the mineralisation to the west. Assay results for these holes are pending.
Hole SFRC002 was drilled to a depth 43 metres, to test the mineralisation up-dip from, and on the same section as SFRC001. SFRC002 intersected 10 metres at 1.28 g/t from 13 metres, including five metres at 2.21 g/t Au from 16 metres.
Mr Funston said Xpedra is very encouraged by the shallow depths of mineralisation and the broad intervals of mineralisation that have been intersected. He also noted multiple higher-grade zones have been hit in both holes and that the mineralisation remains completely open at depth to the west.
XPD is stable at 2.2¢. Mkt cap $12.67M.
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