Askari Metals Limited (ASX: AS2) has obtained gold rock sample results up to 31.7 g/t Au and identified significant REE potential at the Springdale project in NSW, Australia
The company has obtained Rare Earth Elements (RREs) results up to 1,222 ppm TREO in the first field reconnaissance program from its Springdale Project located on the Lachlan Fold Belt.
The field reconnaissance visit aimed to investigate and sample all of the historical gold workings at the Springdale Project as well as several other high-priority targets identified during the company’s geological review.
The results revealed some exceptional high-grade gold mineralisation from samples collected in situ and from historical mullock piles. In addition, the results also identified base metal mineralisation in the form of copper, lead-zinc anomalism and elevated cobalt and rare earth anomalism in some samples.
The company will review each mineral suite individually to ensure we tailor our future exploration approach appropriately.
“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 separate workings and artisanal mines across the project area,” Vice President – Exploration and Geology, Johan Lambrechts, said.
“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. We look forward to keeping our investors informed about our progress as we move to the next phase of exploration at the Springdale Project.”
Gold Mineralisation
196 samples were collected at several of the historical workings and areas of interest throughout the Springdale Project area. Of these, 25 samples returned gold results greater than one gram per ton with the highest gold result being 31.7g/t Au. In general, gold mineralisation is associated with arsenic, antimony and tungsten, and the results do not indicate any significant silver mineralisation associated with the gold.
The Kangaroo mine, Fiddlers Hill and Elmore West areas all returned very encouraging gold values from the samples collected there, but the area has seen some activities from previous explorers, including limited shallow-depth drilling. The company will evaluate our results in conjunction with historical exploration and determine the best exploration path forward.
The historical sites of Specimen Hill, Blackwall South and Little Wonder also returned very good gold values from assays and, by contrast, have seen very limited exploration activities. This area suggests that significant exploration upside exists and the potential to join the zones of mineralisation remains high.
These areas will form the main focus of future exploration activities on the Springdale Project, in conjunction with a few areas that the company is still planning to visit to collect additional data and samples.
For further information please visit: https://www.askarimetals.com
