Sign up Australia
Proactive Investors - Run By Investors For Investors

Marindi Metals finds conglomerate gold at second Bellary Dome site

The project has equivalent stratigraphy to the Purdy’s Reward gold discovery.
Gold panning
The company will now undertake a creek sampling program

Marindi Metals Ltd (ASX:MZN) has found conglomerate gold at a second site within the Bellary Dome project in the Pilbara region of Western Australia.

Two rock chip samples from the Mt Roe/Bellary Formation contact zone have returned gold of 0.6 g/t and 0.1 g/t respectively.

They are the first confirmation that the contact is auriferous in this second location.

READ: Marindi Metals’ shares surge on new conglomerate gold opportunity in the Pilbara

The project lies on the southern margin of the Hamersley Basin and covers circa 25 kilometres of the contact between the Bellary Formation conglomeratic units and the overlying Mt Roe Basalt.

This is the equivalent stratigraphic contact to where the Novo Resources Corp (CVE:NVO) and Artemis Resources Ltd (ASX:ARV) JV and others have discovered gold at Purdy’s Reward and other West Pilbara prospects.

Creek sampling program

Marindi has designed a comprehensive creek sampling program to test all drainages which cross the prospective Mt Roe/Bellary Formation contact.

This sampling is expected to get underway by the end of February.

Creek samples will be panned as well as sub-samples sent to laboratories for analysis.

The first location of auriferous conglomerate, Edney Find, has significant historic alluvial workings, dry blowings and evidence of recent metal detecting.

This was the location in which Marindi panned coarse gold from local creeks.

Gold-in-soil sampling program

Marindi will also complete a gold-in-soil sampling program over the conglomerate with the aim of assessing the total strike length for gold mineralisation.

To the company’s knowledge, this will be the first time the area has been explored using this technique.

Marindi will be on site next week conducting orientation sampling to determine the most suitable sampling size for the sampling campaigns.

READ: Marindi Metals maps out lithium exploration for new year

The company recently also completed a sampling program at the Cosmic Boy and Digger Rocks prospects, part of its Forrestania Lithium Project in Western Australia.

View full MZN profile View Profile

Marindi Metals Ltd Timeline

Related Articles

cement mixer
June 04 2018
Pozzolan, and CS in particular, have become the most important area for the group
mine workers
March 31 2018
Kazera Global is now mining more tantalum more efficiently, and the buyers are beginning to come in
Photo of blue mineralisation at Thackaringa
April 09 2018
The market hasn’t fully appreciated the company’s strong market connection with JV partner Cobalt Blue Holdings Ltd.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use