Significant Shallow Gold Intercepts Highlight Promise Of New Acquisition
Fire assay results have confirmed that Xantippe Resources (ASX: XTC) has intersected shallow gold intersections in its drilling campaign at the company’s recently acquired Southern Cross gold project in Western Australia.
The company’s recent drilling activity consisted of 24 RC holes completed for a total 2404m drilled, targeting high priority prospects at Boodarding, Alpine/Roma, Xantippe and Glendower North.
Highlights of the campaign included:
- 1m @ 9.92g/t Au from 93m;
- 1m @ 1.43 g/t Au from 22m;
- 24m @ 0.30g/t Au from 96m, including 1m @ 0.98g/t Au from 105m and 1m @ 0.72g/t Au from 100m; and
- 4m @ 1.07g/t Au from 68m and 1m@ 1.39g/t Au from 79m.
- 4m @ 1.71g/t Au from 61m.
Managing Director Richard Henning said the samples selected for fire assay analysis are significant intersections identified by photon analysis of 4m composites.
“The intersections confirm the presence of broad, shallow zones of mineralisation which allows XTC to target known gold deposits with follow-up drilling,” Mr Henning said.
“We have an exciting mix of both broad mineralisation and high-grade smaller intercepts.
“These intercepts, combined with the knowledge that the zones have not been drilled to significant depths increase our confidence that the Southern Cross tenements hold the potential to contain economic quantities of gold.
“The 24m zone is indicative of a potentially larger gold system which is of economic significance, improving to the north.
Meanwhile, the company has completed its review of geophysical targets. These targets are highly prospective, identified by magnetic survey, leading us closer to the source of the gold mineralisation.”
Further holes are planned in Q4 to test an interpreted extension of the Axehandle structure south- east of Cornishman following a review of geophysical work.
Mr Henning said the Axehandle and Cornishman Gold Mines (+150koz deposit) represent an important drill target for XTC along a gold mineralised shear zone.
During the recent drilling programmr, six RC holes were abandoned due to water influx beyond the capacity of the rig and access issues with landholders. These issues have been resolved and the planned holes will be completed in the next round of drilling.