Explaurum Ltd (ASX:EXU) has completed the first phase of reverse circulation drilling at the Mace prospect, 1-kilometre from the proposed open pit at its Tampia Gold Project.
The drilling intersected continuous shallow supergene gold mineralisation over a 550 metre long and 50 metre wide area, with an average thickness of about 5 metres and uncut grade of 5.17 g/t gold.
Best intersections include 11 metres at 13.9 g/t gold from 7 metres; 8 metres at 10.03 g/t from 10 metres; 8 metres at 4.83 g/t from 9 metres; 5 metres at 4.17 g/t from 8 metres; and 3 metres at 5.26 g/t from 2 metres.
Mace to provide low cost ounces
Previous drilling programs had intersected shallow gold mineralisation in the clay at the base of the creek system that drains the Tampia resource area.
The mineralisation occurs at a consistent depth of around 8 metres below surface over the 550 metres of strike.
It is open to the west and is associated with a gold soil anomaly that extends around 13 kilometres west.
Mineralisation is supergene in nature, which means the gold has been remobilised, enriched and redeposited by groundwater.
The company believes that the distribution and continuity of the mineralisation should provide additional low-cost gold ounces to the project.
Additional drilling given priority
Explaurum managing director John Lawton said that the results had so far exceeded expectations and that the company’s focus for the remainder of 2018 would be to aggressively explore the high priority gold samples and gravity targets in the area.
“Extension drilling to test the potential size of the mineralised zone has commenced.
“This is going to be a defining six months for Explaurum.
“We look forward to identifying a Tampia lookalike which the early stages of our exploration effort suggest may exist in the area.”
