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Adelaide Resources assays 9.32g/t gold at Drummond

Last updated: 16:30 29 Oct 2014 AEDT, First published: 15:30 29 Oct 2014 AEDT

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Adelaide Resources (ASX:ADN) has received assay results for new surface rock chip samples from its South West Limey Dam prospect on the Drummond Project in Queensland.

Results corroborate the emerging mineralisation model of a large gold target zone preserved at depth below an extensive soil pathfinder metal anomaly to the south of the prospect, and a near-surface gold target to the north.

Highlights include 9.32g/t gold, 6.33g/t gold, 2.75g/t gold, 2.41g/t gold, 1.86g/t gold and 1.33g/t gold, adding to the 2013 result of 55.4g/t gold.

Rock chips from the south of the prospect, where the “Gold Zone” is likely to be preserved at depth, contain lower gold but significant arsenic with results including 345ppm arsenic, 249ppm arsenic and 120ppm arsenic.

Soil geochemistry and rock chip sampling at the Central Limey Dam and North Limey Dam prospects also delivered positive results.

The program has defined targets to be drill tested following the end of the wet season, with co-funding from the Queensland Government.

The Drummond Basin which holds ADN's Drummond project hosts a number of significant gold deposits of epithermal style, including the Pajingo Field which has produced in excess of 3 million ounces of high grade gold.

ADN also recently identified the West Doora IOCG target at its Moonta Copper Gold Project in South Australia. It lies in the Wallaroo Mines Field which is in turn a part of the large Proterozoic Olympic Copper-Gold Province.

 

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