Highlights
- Vertex Minerals (ASX:VTX) has announced further drill results from their recent drill campaign at Hargraves.
- As per drill results, gold grades have been hit at the targeted depths and there is as expected, a stacked saddle reef.
- The diamond drilling assays cover three holes drilled on the recently granted exploration licence which split the Hargrave Mineral Resource in half. The new area forms 10% strike length of the Hargraves Mineral Resource.
- Hargraves 2012 JORC Resource is estimated at 2.3Mt at 2.4 grams per tonne gold for 177,000 ounces gold.
- VTX is expecting to upgrade the mineral inventory by joining the two resources which were formerly considered as two separate mines.
Vertex Minerals Limited (ASX:VTX) has announced drilling results from the drilling campaign at Hargraves on the recently granted EL 9485. The ASX-listed firm is expecting to upgrade the mineral inventory by joining the two resources which were formerly considered as two separate mines.
This drilling program at Hargraves is Vertex Minerals’ second drilling campaign. According to the company, Hargraves demonstrates huge potential for major resource growth. Vertex believes that ‘there is compelling evidence that the Hargraves deposit is a robust deep plunging deposit, and the gold inventory will benefit from additional drilling’.
Currently, the Mineral Resource of the Hargraves Project has been estimated to be at 177,000 ounces.
Remarks by Executive Chairman Roger Jackson:
“The results from our recent drilling are further building the story towards Vertex re-running the resources numbers and pegging the project as MLs. We are keen to take these projects to production, whilst building on the global gold inventory in the Hill End corridor.”
In-depth details of EL6996
Source: Company Update
For several decades, no systematic exploration has been undertaken on EL9485. However, it is considered as highly prospective for stacked reef quartz veins with high gold grades.
Section A-A, present on EL6996 and adjacent to the first drill hole at Hargraves and the new exploration license, demonstrates a geological interpretation and the assay results from past drilling programs.
Section B-B, a cross section through the new EL9485, includes holes drilled by VTX recently.
A down plunge continuation of quartz veining intersected at depth marks the exploration target on EL9485. With an extensive drill database, this down plunge extension of quartz veins is well founded at Hargraves. It supports the southerly plunge of the vein system and demarcates the upper exploration target where some depletion from historic mining is likely, along with two deeper exploration targets. Also, drill data on either side of EL9485 supports the middle target.
VTX shares were spotted trading at AU$0.080 midday on 23 March 2023.