On 16 April 2019, the gold exploration company NTM Gold Limited (ASX: NTM) notified the market about the excellent aircore drilling outcomes from Hub prospect, within its wholly-owned Redcliffe Gold Project situated adjacent to Leonora, West Australia.
The Hub drilling forms a part of a bigger campaign testing several targets, with most of the program testing potential northern extensions to NTM’s 2018 Hub discovery.
The company concluded 65 aircore holes to the north of Hub for 4,785m of the c.8,000m program. Other areas which are being tested, comprises of Nambi North and Aliso. The evaluation outcomes from the northern Hub drilling are extraordinary and establish the possibilities for the Hub prospect to hold substantial mineralisation.
Better results include of (5m composites) and are as follows: 10m @ 23.3 g/t Au from 55m – with visible gold at 59m & 62m, 10m @ 9.0 g/t from 65m in 19RAC016, 2m @ 3.1 g/t Au from 25m to EOH, 5m @ 2.9 g/t from 20m in 19RAC024 and 5m @ 2.9 g/t from 75m.
This latest drilling has defined a mineralised corridor, north of the original Hub mineralised zone of at least 500m length and is still open to the north. This is in addition to the +300m of the strike of the original Hub discovery during the last year, south of the ultramafic dyke, which remains open to the south.
The Hub prospect is interpreted as a structurally complex area located in the centre of the Redcliffe Project. The initial aircore discovery holes were drilled by NTM in 2018 (as announced on 17 October 2018), returning 7m @ 4.71 g/t Au from 40m and 10m @ 2.06 g/t Au from 25m. The mineralisation is subvertical with a north-south strike of at least 300m.
Several RC and diamond holes have since been completed into the original southern portion of Hub, identifying mineralisation down to at least 250m depth (as announced on 15 January 2019), with at least a 300m strike length, and open to the south.
At Hub prospect, the mineralisation was truncated to the north by an NW-SE ultramafic dyke, with no drilling for approximately 800m north of the dyke. This latest aircore program was designed to test the 800m gap for potential northern continuations of the mineralisation already identified.
NTM Gold’s MD Mr Andrew Muir stated that infill aircore drilling program is proceeding, with deeper follow-up RC drilling already being planned for May 2019. The RC would provide crucial information to the extent of the mineralisation and should results be positive, PRU will undertake more detailed drilling with the target of defining an initial resource estimate towards the end of this year.
Future Drilling Program
At present, two lines of infill drilling between the 200m spaced lines are ongoing with the purpose of refining the location of the zone given the coarse line spacing. After the infill drilling work, the company has planned to carry on RC drilling on the northern mineralisation, to test the depth extent and refine the understanding of the grade distribution and geology.
After the above-mentioned work, a more detailed resource style drills out is scheduled in the next half of 2019.
NTM is extremely encouraged by the outcomes it has received from Hub north. Significantly, the mineralisation remains open to the north and south. In the north, the greenstone belt changes in orientation from north-south to northwest, adjacent to the Company’s Infinity Prospect. Further drilling is planned to test these areas.
The stock of the company is currently trading at A$0.039 (as on 16 April 2019, 3:25 PM AEST), up by 2.632%.
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