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Cervantes Corporation advances towards gold resource estimate at Blue Heaven Project in WA

Snapshot

The company continues to assess several other projects while developing the Primrose project and will ideally be able to provide continuous newsflow to shareholders in the relatively near future.

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Quick facts: Cervantes Corporation Ltd

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ASX:CVS
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Cervantes Corporation Ltd (ASX:CVS) plans to undertake activities required to progress towards a mineral resource estimate at Blue Heaven Project within the wider Primrose Gold Project in Yalgoo Western Australia.

During the December 2020 quarter, the company completed various drilling programs at Primrose which targeted three areas within the project area – Blue Heaven, Pansy Pit and the MMI gold anomaly.  

Primrose project overview

The project covers more than 8 kilometres of the highly gold mineralised Primrose Shear in the Murchison District of the Eastern Goldfields.

Cervantes has identified several opportunities in this goldfield - one target was identified by CSA Global but was never tested by previous explorers - and is committed to accelerating exploration, evaluation and overall development of these opportunities.

The company is particularly focused on advancing the Blue Heaven exploration target, with the aim of declaring a JORC mineral resource and early development of the Pansy Pit for potential cash flow.

These areas being assessed make up only some 5% of the overall project area.

Blue Heaven target

Blue Heaven is centred on the historic Paynes Find goldfield, with more than 37 abandoned mine workings found in the area.

Cervantes identified an exploration target at the project on July 16, 2020, following a drilling program planning to verify historic intersections as part of the company’s validation process for evaluating historic drilling.

Six holes for 263 metres were drilled and although the targeted depths of the holes were not achieved very promising geology was intersected, in particular:

  • A broad zone of intensely altered sericitic felsic schist (32 metres to 55 metres) with strong magnetite-epidote alteration -the magnetite alteration is logged as ‘extreme’; and
  • A lamprophyre dyke is logged at 32-34 metres.

Both observations indicate very favourable environments for gold mineralisation.

The company is also planning to undertake an assessment of the magnetite alteration zone with respect to the gold mineralisation and the potential of ground magnetic survey to map out this zone.

Pansy Pit development

The Pansy Pit was mined in the mid-1980s to a depth of approximately 5 metres with the ore comprising a series of parallel, moderately south-west dipping quartz lodes.

Acquisition of a high-resolution digital elevation model during 2020 has allowed historic drilling and the 2018 drilling to be put on to the same datum.

As a result, the steeper dips previously identified have proven to be shallower and possibly more attractive for mining.

A program of 25 RC holes for 436 metres was undertaken to fill in the existing drilling to better define the near-surface gold mineralisation potential in the pit.

Proposed activities at Pansy during 2021 including resampling of anomalous 4-metre gold intersections to 1-metre, in order to better define those intersections as well as continuing a small mining proposal submission.

Cervantes also aims to plan a third program of shallow in-pit drilling to aid in grade control for any future mining.

Looking ahead

The company continues to assess several other projects while developing the Primrose project and will ideally be in a position to provide continuous good news to shareholders in the relatively near future.

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