A total of 36 reconnaissance aircore holes comprising 1,423 metres were drilled in the phase one and phase two programs in the Southern Area with the aim of finding similar mineralised systems as nearby Evolution Mining Ltds (ASX:EVN) Cowal and CMOCs (SHA:603993) Northparkes mines.
Rimfire managing director Craig Riley said: “The results from the phase one and phase two drilling programs over the Northern and Southern Areas support the Rimfire interpretation that the basement rocks are older Ordovician rocks that also host the nearby significant Northparkes (copper/gold) and Cowal (gold) mines.”
However, testing indicates that it is likely to be from stage II volcanism rather than the stage III and IV volcanism associated with mineralisation at Cowal and Northparkes.
Drilling at the Northern Gold prospect was designed to test the bedrock beneath a 400 metre long by 80 metre wide zone of historical mine pits.
The phase one RC drilling consisted of two holes totalling 165.5 metres and generated anomalous gold (0.15 parts per million), copper (0.17%), lead (120 parts per million) and zinc (0.13%) although it did not intersect high copper or gold grades.
These results are supportive of the Intrusion Related Gold System (IRGS) model for mineralisation in the area.
The surface gold remains unexplained by the limited drilling to date and an aircore drilling program is the next step in understanding and locating the source of historical gold from this prospect.
The company believes the known footprint of Northern Gold historical gold workings supports the potential for a significant mineralised system, which could be either an independent mining operation or an incremental additional source of supply feed to any Sorpresa development.
Rimefire project location
Phase three program
The focus of the planned phase three drilling program will be the Northern Gold prospect historical gold workings that were partially tested in phase one, as well as the Transit prospect, around 3 kilometres to the east of Sorpresa, where in 2017 Rimfire obtained promising intersections of 20 metrRead More – Source