Sponsored

Australasian Metals (ASX: A8G) begins field study at Dingo Hole Quartz Project

June 24, 2024 11:16 AM AEST | By Sonal Goyal
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

Highlights

  • Due diligence field exploration begins at the Dingo Hole highly pure quartz project in the Northern Territory.
  • The exploration team aims to evaluate the project's commercial viability.
  • Drill core from the Mt Peake Lithium Project has been sent to the Alice Springs Core Library.
  • A8G is set to receive a $95,300 grant under the "Resource the Territory" program, administered by the Northern Territory Geological Survey.

Australasian Metals Limited (ASX: A8G) has started due diligence field exploration work at the Dingo Hole highly pure quartz project (EL31078).

A8G’s team has arrived at the site and has begun mapping and sampling the silica unit. The aim of this exploration work is to assess the commercial viability of the project.

The Dingo Hole project is currently under an option agreement between Verdant Minerals Limited and A8G.

Previous work undertaken at Dingo Hole

The Dingo Hole Project is located within the Georgina Basin in the Northern Territory. Previously, limited exploration work was conducted on the 35.16km2 project by Rum Jungle.

Previous research suggests that the silica unit may be a silcrete deposit. However, the absence of residual clasts within the silica, along with the pervasive presence of vugs containing inward-growing crystals, points to a formation process involving higher temperatures.

The company proposes that metasomatic replacement of a dolomite unit is a possible model, which has led to the formation of exceptionally pure silica observed in many areas.

 

Image source: Company update

According to the company update, a milky white quartz sample was collected from the location of Rum Jungle sample 112004. The company noted that iron appears to be outside of the silica and can be removed easily with proven colour sorting techniques. However, further work is required to evaluate the impact on any future product.

Drilling update for Mt Peake Lithium Project

In February 2024, the company announced the completion of a reconnaissance diamond drilling campaign at the Mt Peake project. The drill core from this drilling campaign has been transported to the Alice Springs Core Library.

Additionally, the company expects to receive a grant of AU$95,300 under round 16 of the collaborative drilling program “Resource the Territory”, administered by the Northern Territory Geological Survey.

A8G shares soar

A8G shares jumped 5.263% to trade at AU$0.080 apiece at the time of writing on 24 June 2024.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Two ASX Listed Stocks Giving Bullish Indications

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.