Australasian Metals (ASX: A8G) identifies polymetallic epithermal veining at Mt Clermont’s Nanya Prospect - Kalkine Media

Highlights

• Australasian Metals has completed field investigation and sampling at the Nanya Prospect of Mt. Clermont Project.
• Epithermal veining has been identified at the site which indicate there is a major system which also host the Retro Extended prospect, which has a Maiden JORC Inferred MRE of 63,600 oz of gold at a grade of 1.13 g/t.
• Around 20 out of 37 rock samples were anomalous in Pb, Cu, Mo, Zn and Mn from surface.
• A8G is well funded to explore its highly prospective projects in Australia.

In the latest announcement, metal explorer Australasian Metals Limited (ASX: A8G) revealed that it has completed additional field mapping as well as surface rock chip sampling at its Nanya Prospect of the Mt Clermont Gold Project in Central Queensland.

After the recent rock chip sampling, the company has confirmed that potentially large mineralised base metal porphyry system exists at the site. Also, epithermal veining has been located from the recent mapping, which seems like the one observed at the Retro Extended prospect that hosts a maiden gold resource of 63,600 oz of gold at a grade of 1.13 g/t.

More about the Nanya Prospect

Situated at the southern end of the tenement at about 5 km south of Retro Extended, the Nanya Prospect includes a sericite-sulphide-magnetite altered Devonian granite porphyry spread across 2.5 km by 1 km.

The Nanya Prospect, historically, was recognised as the core intrusion of a copper-molybdenum intrusive with a transition from copper-molybdenum to proximal Cu-Pb-Zn. Historical rock chip samples gathered from Nanya delivered up to 0.2% Cu, 99 g/t Ag, 4.8% Pb and 0.13% molybdenum.

During recent exploration campaigns conducted at the Prospect, geological mapping and surface rock chip sampling was completed. Total 37 rock samples were collected and were associated with the sericite altered granite porphyry.

Around 20 out of the 37 rock samples were anomalous in lead, copper, molybdenum, zinc and manganese. The anomalous base metal geochemistry was also supported by anomalous Th, U, V, Sr, Sn, Ba, As, plus Ag and minor Au.

The anomalous geochemistry of this sampling indicates at a large base metal porphyry system. Going forth, A8G will focus on this concept as well as the epithermal veining at Nanya.

Nanya Prospect location, a sericite-sulphide-magnetite altered Devonian granite porphyry

Image source: Company update

Nanya Prospect sample location, and target of the sericite-sulphide-magnetite altered Devonian granite porphyry. The readings are the lead content in ppm. The red grid polygon outlined the alteration areas from field observation. 

Image source: Company update

Path forward

The ASX-listed firm is planning to hold follow-up work programs at the Nanya Prospect; however, it remains subject to ongoing interpretation of recent as well as historic results.

As per the company, the anomalous Th and U values in the sampling hint that a detailed radiometric survey may turn out to be useful in targeting drilling to the core location of the potential mineralised porphyry at the Prospect.

A8G shares were trading at AU$0.150 at the time of writing on 8 January 2024.