DeSoto Resources Limited (ASX: DES) has provided an update on a drilling programme at the company’s Fenton Gold Project, Northern Territory, where a historical gold discovery was made by Homestake Mining in the mid-1990’s which intersected 20m @ 1.74g/t Au (FEND18).
The first hole has now been completed and a second hole has commenced with over 1,000m of diamond drilling completed to date at the Fenton Gold Project since mid-August. More than 250 core samples have been cut and submitted to North Australia Laboratories in Pine Creek, for gold and multi-element analysis, results are pending.
The targeted Fenton Shear Zone (FSZ) is believed to have been intersected with several shears and faults noted during core logging. In addition, zones of chloritic and potassic alteration containing sulphides such as pyrite, pyrrhotite, ±chalcopyrite, and arsenopyrite and have also been observed.
Intervals of pegmatitic granites will be analysed for battery mineral potential. Additionally, drilling is ongoing with five holes planned and a steady stream of results expected in the coming weeks and months. High resolution AEM (airborne electro-magnetic) survey is on track to begin in early October. The programme will infill an existing regional scale Rum Jungle TEMPEST survey over the gold endowed Fenton Shear Zone corridor.
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