Dynamic Metals Ltd (ASX:DYM) has received “significant” high-grade rock chip results from Cognac West prospect within the Goldrush tenement at the company’s Widgiemooltha Project in the Western Australian Goldfields.
The rock chip sampling at Cognac West returned up to 2,040 g/t gold in sample DM1007 and 53.1 g/t in DM1010 with this work following earlier soil sampling results that identified high-grade gold anomalies.
This prospect area has been subject to near-surface historic exploration dating back to the 1970s, including a peak historic drill hole gold assay of 1 metre at 91.3 g/t from 41 metres.
Systematic exploration
Dynamic is undertaking a systematic approach to exploration at Cognac West, gathering new high-confidence data.
The first step in this approach involved a soil sampling program over a 3-kilometre long by 2-kilometre wide area, collecting samples every 50 metres along 200 metre-spaced east-west lines.
From this three strong gold anomalies were identified with several high-grade results including 2.1 g/t, 0.49 g/t and 0.22 g/t gold in soils and with two areas of +0.025ppm (25ppb) gold anomalism highlighted — Anomaly A and Anomaly B.
The company returned to the prospect in early October 2024 to extend soil sampling lines to the east and in areas where previous soil samples had been insufficient and subsequently identified a third high-grade anomaly.
Bonanza rock chip results
Dynamic has also undertaken mapping and rock chip sampling across the Cognac West area. Mapping around the eastern +25ppb gold soil anomaly (Anomaly A) established that the majority of the surface geology is residual soil with limited felsic volcaniclastic outcrop.
Using the initial round of soil sampling as a guide, field crews identified a sub-cropping northeast trending quartz vein adjacent to anomalous gold in soil results. Eight rock chip/float samples were taken along 50 metres of the exposed quartz trend.
Assays results returned from rock chip sampling of float, sub-crop and outcrop across the Goldrush tenement were encouraging from multiple locations at Cognac West.
Results included 2,040 g/t gold, 53.1 g/t, 5.91 g/t in DM1006, 8.95 g/t in DM1008 and 3.27 g/t in DYM2424091006.
Cognac West soil and rock chip sampling results.
Dynamic Metals managing director Karen Wellman said: "We are thrilled with these bonanza rock chip results as they robustly reflect the mineral prospectivity that our exploration ground holds.
“One of the best pathfinders for gold is the presence of gold itself and it would appear we have exceptional potential for further discoveries at our aptly named Goldrush tenement.
“The area now has multiple indicators pointing to potential significant gold mineralisation at a time when the gold price has hit $4,000/oz, including our large soil anomalies, these latest rock chip sample results and recent gold finds reported by prospectors.
Infill soil sampling commenced
Dynamic Metals has now started infill soil sampling on 100-metre spaced lines with 25 metres between samples, which will inform drill target definition for testing.
The company will then initiate permitting processes in anticipation of drilling in early 2025.
“We are extremely optimistic and excited about our ongoing exploration activities at Cognac West, with infill soil sampling currently underway to inform our drill target definition for testing in early 2025,” Wellman said.