Proactive Investors - Run By Investors For Investors

Cervantes Corporation’s Pansy Pit in WA may have more gold to give

The prospect’s shallow mineralisation can potentially be extracted via a heap leach operation.
Cervantes Corporation’s Pansy Pit in WA may have more gold to give
The Primrose project is south of Meekatharra

Cervantes Corporation Ltd (ASX:CVS) has intercepted shallow high-grade gold mineralisation in the historical Pansy Pit at its Primrose Gold Project in Western Australia.

The reverse circulation (RC) drilling results indicate the mineralisation is much more pervasive than indicated in previous drilling and not restricted to quartz veins.

Eleven RC holes were completed for 336 metres, but the campaign was curtailed due to inaccessibility near the pit walls.

Gold mineralisation remaining in the Pansy Pit may be amenable to low-cost extraction given its shallowness and position in the oxide zone.


Drilling was designed to test previously identified extensions up-dip, down-dip and along strike, as well as providing fresh core for metallurgical and geotechnical testing.

Highlighted assays include: 2 metres at 6.32 g/t gold from 11 metres; 1 metre at 5.83 g/t from 11 metres; 1 metre at 6.31 g/t from 13 metres; and 2 metres at 9.14 g/t from 15 metres.

Historical drilling at the Pansy Pit intersected up to 8 metres at 7.08 g/t gold.

Further drilling is required to confidently identify specific quartz lodes across the prospect’s sections.


Potential heap leach operation

Intercepts recently returned indicate mineralisation occurring in pyritic quartz lodes, within sheared mafic as well as in unsheared, massive mafic with no noted quartz content.

These observations demonstrate that historical drilling only sampled obvious quartz veins and there exists substantial gold mineralisation in the host rocks, giving the area a higher potential than initially thought.

Cervantes believes the area may be suitable for a heap leach operation that would access bulk tonnage, rather than the narrow veins previously considered.

The company has received persistent enquiries from mills in the district needing additional ore for their process operations but remains open to a stand-alone mill for the project.

READ: Cervantes Corporation intersects high-grade gold at Albury Heath Project

Cervantes plans to conduct a fuller assessment of all drilling results to better understand the controls on gold mineralisation.

As historical hole collars no longer exist, the company may redrill those holes to better test the area in light of conclusions drawn from recent drilling.

A wider regional assessment of Pansy’s mineralisation will also be undertaken, due to gold anomalism seen in aircore drilling to the southeast of the pit.

Following a review of all completed drill programs, Cervantes will prepare new drilling campaigns, budgets and submit work programs.

View full CVS profile View Profile

Cervantes Corporation Ltd Timeline

Related Articles

Drilling at Napie
June 26 2019
The company closed a one for four non-renounceable entitlement offer on June 25, 2019, with acceptances received from 102 shareholders raising $409,745.
Pacific American Coal's Elko coking coal project in Canada
January 10 2019
The company drilled the project in 2018 and is waiting on laboratory assays.
Quebec and Canadian flags fly at full mast on two flagpoles
Contractors have been drawing up quotes this month, with drilling at the historic mine project set to start later this quarter.

© Proactive Investors 2019

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