Planning For Next Phase To Target Neta Lodes Lookalikes
Gibb River Diamonds Limited (ASX:GIB) has announced results from the highly successful Phase 3 RC drilling programme at the Neta Lodes Prospect, part of the Edjudina Gold Project in Western Australia.
A total of 22 holes were drilled for 1,921m with 1,088 samples assayed either as one metre splits (903 samples) or as composite samples (185 samples), mainly six metre composites.
Management said the highly successful Phase 3 drilling programme has better defined and expanded the GIB Neta Lodes gold discovery. This is an exciting prospect which displays mineralisation from surface, grades, geometry and location which indicate potential for bulk open pit mining
The company told shareholders, the discovery of Neta Lodes, the first of its type in the Edjudina field, now provides a mineralisation model which will be used to guide ongoing exploration.
Planning for a Phase 4 aircore drilling programme is underway, which will be targeting Neta Lodes lookalike deposits along the highly prospective, under-explored and under-drilled 13km strike corridor at Edjudina.
This Phase 4 drilling programme is scheduled to commence around May 19, 2021. GIB has recently signed a contract with a quality Kalgoorlie based drilling contractor to provide these aircore drilling services.
The Neta Lodes Prospect has now been confirmed by the results of the Phase 3 drilling programme to be a significant discovery of shallow, high grade gold mineralisation:
The recently discovered Neta Lodes gold mineralisation is markedly different from the material reportedly mined at the historic underground Neta gold mine and also as reported from workings on the rest of the Edjudina Line, which were a series of high grade quartz boudins with minor gangue mineralisation.
The Edjudina Goldfield is remarkable for its structural uniformity with a strike of 145° to the north- west and a dip of 80° to the east. The Neta Lodes mineralisation has a similar strike and dip, but appears to be more structurally complex with multiple lode systems associated with strong hydrothermal alteration.