First Discovery Follow-Up Hole A Success In Greenland
Conico Limited (ASX: CNJ) has had instant success with the first drill-hole at the newly discovered Cascata Prospect intersecting multiple lenses of massive sulphide in Greenland.
Drilling was terminated at 407m downhole after having persisted through 275m of volcanic-sedimentary units from surface, ending in gabbro.
The gabbro is layered and both laterally/vertically extensive, therefore representing a newly discovered layered mafic intrusion that is prospective for precious and base metals
. Drill-holes CADD002 (Cascata) and MIDD009 (Miki) are both complete and in the process of being logged.
Conico Executive Director, Guy Le Page, said activities in Greenland have now ended for the 2021 field season.
“The first drill-hole at the newly identified Cascata Prospect is very encouraging, with numerous lenses of massive sulphide having been encountered and therefore justifying the interpretation that Cascata is a VMS occurrence,” Mr Le Page said.
“A layered mafic intrusion, prospective for precious, platinum group and base metals was also identified in this drill hole. The field season has now ended; however, activities are ongoing including logging the last two holes, awaiting assay results, and planning for the 2022 field season.”
Drill-hole CADD001 at the Cascata Prospect The first drill-hole CADD001 at Cascata was collared at a location high in the sedimentary sequence, above where abundant sulphide mineralisation that had been observed at surface.
The hole was positioned perpendicular to bedding, angled to intercept the stratigraphy obliquely. From the surface until 275 m downhole, CADD001 intercepted alternating volcanic sedimentary (VS) units that are deposited above the gabbro lithologies.
Sulphide bearing black shales predominate the VS sequence and are interbedded with mafic to intermediate volcanic, sub-volcanic, volcaniclastic units, as well as chert, and occasionally cut by dolerite. Hydrothermal alteration is readily identifiable by the presence of chlorite, and mostly associated to the mafic units.
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