As a follow up to
The 3D model has confirmed an extensive primary and secondary gold mineralised system. Significant structural trends controlling the gold mineralisation have been identified from this model. This will assist in the planning of diamond and RC drilling for the maiden Mineral Resource Estimate, scheduled to commence in Q2, 2022. At the
The licence has significant historical drill intercepted sulphide nickel mineralisation at the GSP and Ringlock Prospects in the northerly extension of the
This includes the Statesman Well Prospect 26km east of Hobbes, where drilling in the mid 1980's identified significant mineralisation over 900m with better intercepts including 20m @ 1.19 g/t Au (uncut, from 46m). This represents a walk-up drill target for the 2022 campaign. The regional aeromagnetic survey, commissioned by the Company in
In commenting on the progress in WA,
Last year saw the team make significant progress on all of the WA project areas. This year we can test the targets generated with drilling programs. The proposed demerger of Solstice Minerals, which remains subject to various approvals, including shareholder and final Board approval, will see a new and exciting exploration driven company in the
Several anomalous gold-in-soil zones in the north and west of the licence are emerging from the initial UFF data and are untested by any historical or recent drilling. These continuous zones of gold anomalism (>10 ppb) occur in residual soils striking north-northwest and subparallel to the adjacent KKTZ and extend up to 1.8km in length by 200 to 300m in width with a peak gold value of 49.3 ppb.
Lucerne Well Licence (E31/1150)
An exciting zone of gold-in-soil anomalism >5 ppb has been defined in the south-central part of the Lucerne Well Licence with a north-northeast strike that extends for up to 1.7km in length, 150 to 300m wide and is untested by drilling. The core of this anomaly is >20 ppb gold up to 800m long, with a peak value of 50.7 ppb gold. The north-northeast strike of the anomaly is coincident with a fault interpreted from regional aeromagnetic data. Wide spaced reconnaissance RAB drilling has been undertaken by previous explorers in the northeast of the licence however, there has been no previous drilling over the gold anomalies defined by
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FORWARD-LOOKING INFORMATION
This release contains certain statements which may constitute 'forward-looking information' which are based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to pre-feasibility and definitive feasibility studies, the Company's business strategy, plans, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses.
Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Persons reading this release are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different. Forward-looking information is developed on the basis of, and subject to assumptions, known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.
Many factors, known and unknown could impact on the Company's investment in its projects. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; social and environmental risks; community protests; risks associated with foreign operations; governmental and environmental regulation and health crises such as epidemics and pandemics. As such, readers should not place undue reliance on such forward-looking information. No representation or warranty, express or implied, is made by the Company that any forward-looking information will be achieved or proved to be correct. Further, the Company disclaims any intent or obligations to update or revise any forward-looking information whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.
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