Andromeda Metals Ltd (ADN) has released promising assay results from the first seven holes of its maiden drilling program at the Bunyip gold prospect.
This is within the Drummond Epithermal Gold Project in Queensland, and these results have confirmed the presence of significant gold mineralisation at depth.
One of the better intersections was 4 metres at 5.15 g/t gold.
Exploration points to large epithermal mineral system
The assay results and geological observations made to date indicate that Bunyip is an epithermal mineral system of substantial size, containing some wide quartz veins.
Management said that the style of mineralisation is the same as the nearby Pajingo and Wirralie deposits.
They have resources of more than 3 million ounces and 1.1 million ounces respectively.
All holes yield positive results
All 16 holes drilled to date have encountered one or more intervals of quartz veining, with downhole dimensions of individual veins reaching a maximum of around six metres.
The drilling program is continuing at Bunyip, with additional holes designed to test other targets around the prospect.
Assaying of drill samples is ongoing with further results anticipated to be available in April.