Dundas Minerals Ltd (ASX:DUN) has delivered several broad zones of gold and silver lithochemical anomalism in the first hole of a 2,000-metre diamond core drilling program at its Central Exploration Target (NYSE:TGT) in the prospective Albany-Fraser Orogen of Western Australia.
To date, the company has drilled four diamond holes of its five-hole program, with drill hole 4 nearing completion.
Subsequently, hole 5 will kick off to test the margin of an interpreted intrusive (mafic-ultramafic) based on three-dimensional (3D) modelling of a moderate to strong magnetic anomaly.
Looking ahead, Dundas is sufficiently funded to complete its 2022-23 drilling program at Central, the planned drilling program at Matilda South and further drilling during 2023.
“Potential hydrothermal system”
Dundas managing director Shane Volk said: “The assay results are not what we were envisaging. It is however very early days in terms of understanding the geology and mineral prospectivity at Central.
“We need to complete the current work streams and the remaining drill program, including the return of all assay results.
“One or both of the low resistivity AMT anomalies at Central also needs to be definitively tested. Only after all of this work has been completed will we be in a position to make a balanced assessment of the exploration opportunity at Central and plan any further drilling, or other exploration programs for 2023.
“Mineral exploration is challenging, and any one drill hole can make a complete difference to the prevailing sentiment surrounding a project, and mineral discovery potential.
“There are many positives that we see at Central: the greater-than 12-kilometre EM conductivity trend; coincident gravity and magnetic anomalies; sulphides, alteration and brecciation in drill core; and from the first diamond drill hole gold and silver lithogeochemical anomalism.
“All of this is encouraging and supports the initial interpretation of a potential hydrothermal system.”
Assay results
To date, Dundas has received assay results from two holes – 22CEDD001 (Hole 1) and 22CEDD002 (Hole 2).
However, the results are not in line with the in-field logging and pXRF readings of the drill core.
Therefore, the company has appointed independent geologist Grant “Rocky” Osborne to advance its understanding of the geology at Central and its relationship to the new assay results.
Forward plan
Drill hole 4 (22CEDD004), currently at a depth of about 470 metres, is scheduled to finish this coming weekend, and then PVC casing will be installed in preparation for a DHEM survey.
Next up, drill hole 5 (22CEDD005) will kick off immediately after the casing of hole 4 is completed.
The hole is planned for a maximum depth of around 350 metres and is expected to be completed during the week commencing December 12, after which drilling and support crews will demobilise for the Christmas and New Year period.
At Matilda South, Dundas is planning a maiden drill program to test the interpreted mafic-ultramafic intrusive by reverse circulation (RC) drilling.
This drilling program is co-funded under the WA Government EIS scheme, to a maximum of $180,000 for up four RC holes to a depth of 400 metres.
Drill hole designs will be finalised once the results from the independent 3D AMT modelling have been received and considered alongside other geophysical data.