Askari Metals (ASX:AS2) reports that it has returned exceptional ‘high-grade’ multi-element mineralisation following the first field reconnaissance program at its Springdale copper-gold project in New South Wales.
The results, generated by gold rock sampling and other reconnaissance activities, have demonstrated ‘significant’ rare earth element (REE) potential at the project tenement, with results returning up to 1,222ppm total rare earth oxides (TREO), which will be followed up in future exploration.
Results have also returned gold grades up to 31.7g/t Au, confirming the ‘high-grade’ gold potential at historic workings across the Springdale project area, with other ‘high-grade’ results delivered including base metal mineralisation up to 1,100ppm copper (Cu), 2,370ppm zinc (Zn), 1.77% manganese (Mn) and 1,090ppm cobalt (Co).
Askari also reports that it will review each mineral suite individually to ensure its future exploration is approached appropriately and to further evaluate the mineralisation potential of the tenement.
Speaking on the results, Askari Vice President – Exploration and Geology, Johan Lambrechts said: “The gold potential of the Springdale project has been known for some time and was actively mined and exploited by the artisanal miners historically with more than 30 seperate workings and artisanal mines across the project area. The Gundagai-Temora area is also known to have copper associated with its gold mineralisation and results including 31.7g/t gold with 1,100ppm copper is a very exciting start to the company’s exploration activities on Springdale.
“The elevated zinc, lead, manganese, cobalt and rare earth values are further cause for excitement and the company will design its future exploration activities with these additional metals in mind”
The elevated zinc, lead, manganese, cobalt and rare earth values are further cause for excitement and the company will design its future exploration activities with these additional metals in mind. We look forward to keeping our investors informed about our progress as we move to the next phase of exploration at the Springdale project.”
Askari also notes that the Springdale tenement has previously produced ‘high-grade’ gold values up to 2.19g/t Au near surface from artisanal mining, with more than 30 separate workings scattered throughout the tenement area.
It is reported that these historical results will be evaluated in conjunction with the newly returned reconnaissance results to determine the best exploration path forward.
In addition, gold values in assays returned from the historical sites of Specimen Hill, Blackwall South and Little Wonder suggest that ‘significant’ upside exists and the potential to join zones of mineralisation remains high.
Askari Metals is an ASX-listed company that was incorporated for the primary purpose of acquiring, exploring and developing a portfolio of ‘high-grade’ battery and precious metal projects across Western Australia, New South Wales and the Northern Territory. The company’s Springdale copper-gold project is located about 16km from the township of Temora in New South Wales’ Lachlan Fold Belt and comprises one exploration licence application that covers a total land holding of 217km-square.
With results from the recent reconnaissance program now received, Askari Metals announces future work will include additional field mapping and sampling programs and a more in-depth historic data review.
Images: Askari Metals Ltd