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Highlights:
- Latest drill assays have delivered strong gold grades from Vertex Minerals’ Red Hill project.
- The results highlighted shallow mineralisation that spread over broad intercepts.
- The drilling operation is focused on strike and depth extensions to known high-grade mineralisation at Red Hill.
ASX-listed Vertex Minerals Limited (ASX:VTX) has reported strong gold grades at its Red Hill gold project. The gold grades intercepted by the company went as high as 12.70g/t over one metre.
Triggered by the update, VTX share price jumped 4% to trade at AU$0.130 on 28 November 2022.
Mineralisation demonstrates significant widths from surface
As per the company, the recent assay results from four diamond holes have highlighted shallow mineralisation spreading over broad intercepts. The results are from the first phase of a multi-stage drilling program.
The drilling operation is focused on strike and depth extensions to known high-grade mineralisation at Red Hill. Specialist contractors, "The Drillers", are responsible for drilling activities that the company's own geologists supervise.
A few of the significant intercepts are:
- VRHD005: 5m at 2.97 g/t from 33m downhole (includes 1m at 12.70 g/t from 34m).
- VRHD006: 1m at 2.21 g/t from 3m downhole.
- VRHD007: 2m at 1.27 g/t from 37m downhole
- VRHD008: 3m at 1.02 g/t from 14m downhole.
Source: VTX update
The company continues submitting drilling, logging, and sampling to ALS laboratories in Orange.
More to come….