Resource Drilling Delivers High-Grade Results From Cable And Mission Prospects
Red 5 Limited (ASX: RED) has received high-grade assay results and identified new zones of mineralisation from Resource and exploration drilling at the Cable and Mission Prospects, located 10 kilometres north of the company’s Darlot gold mining operation in Western Australia.
The drilling programme comprised a combination of RC percussion drilling to underpin an upgrade of the historical JORC 2004 Mineral Resource Estimates to JORC 2012 status, as well as exploration diamond drilling aimed at identifying new zones of mineralisation.
RC percussion drilling was undertaken at both the Cable and Mission deposits at 20 x 40 metre spacing between late 2020 and early 2021.
The purpose of the drilling was to increase drill density over mineralised zones to test the continuity of gold mineralisation between sections and to improve the delineation of the ore system along strike and down dip. Resource estimation to JORC 2012 standard for both Cable and Mission is underway.
Over the same period, Red 5 also completed exploration diamond core drilling to test deeper parts of the Cable and Mission gold deposits below the oxide/transitional horizons.
This drilling returned encouraging results at both prospects, with several diamond holes intersecting high-grade lode-hosted gold mineralisation, including visible gold, which extends down-dip from significant gold zones hosted in the upper weathered zone.
Mineralisation remains open, and further drilling is planned to test the extent of both deposits.
At Cable, diamond exploration drilling has also identified a broad new zone of mineralisation measuring between 70 and 100 metres width, which was intersected in all diamond holes and is observable along the entire length of the known extent of gold mineralisation.
- 0.74m @ 164.4g/t Au from 111m (21CBDD002)
- 2.0m @ 20.4g/t Au from 133m (21CBDD003)
- 4.0m @ 13.4g/t Au from 111m (21CBRC0019)
- 4.0m @ 14.7g/t Au from 53m (20MIRC0002)
- 3.0m @ 10.5g/t Au from 167m (20MIDD003)
- 11.0m @ 3.4g/t Au from 13m (20MIRC0018)
- 0.35m @ 142.5g/t Au from 138m (20MIDD001)
Managing Director, Mark Williams, said this discovery presents a significant growth opportunity for Cable. Together with other targets along the 2.4 kilometre corridor that defines the western limb of the Cable-Mission Syncline, it has the potential to underpin a significant Resource.
“These are positive results that confirm the prospectivity of the Cable and Mission prospect areas,” Mr Williams said.
“We’re particularly encouraged by the delineation of a significant new zone of gold mineralisation below the known oxide zone at Cable, which presents opportunities for Resource growth.
“Results from this programme will underpin the delivery of a maiden JORC 2012 Mineral Resource Estimate for both Cable and Mission.”
For further information please visit: https://www.red5limited.com