Vertex Minerals (ASX:VTX) strikes visible gold at Red Hill gold project

Highlights

• Presence of visible gold and sheeted veining observed at Vertex Minerals’ Red Hill deposit.
• Visible gold is in a 40 mm wide grey, crack-sealed quartz vein.
• The company is planning to fast-track sampling and analyses of the mineralised intercepts that will be incorporated into an updated Red Hill MRE in December 2022 quarter.

Australia-based ethical and environmentally sustainable gold and nickel explorer Vertex Minerals Limited (ASX:VTX) has intersected visible gold and sheeted veining at its Red Hill gold project.

Visible gold was intersected in 74.2m downhole over 40mm-wide mineralised zone from diamond drill-hole VRHD004. The hole is currently being logged and drilled to 95m, targeting 120m depth in the southern portion of the Red Hill mineralisation.

The occurrence of visible gold characterises the numerous gold deposits at Hill End. It also intersected a non-targeted zone between 75m and 96m, containing massive lode-type quartz veins.

Source: © 2022 Kalkine Media®, Data Source: Company’s update

Drill Hole Summary Log of VRHD004:

 The hole is dominated by semi-massive fine to medium-grained sandstone beds interbedded with siltstones, rare tuffs, conglomerates, and greywackes. It has a steeper inclination of around 65⁰, intending to test for deeper mineralisation in the southern portion of the Red Hill mineralisation.

The characteristics of major hole intervals are shown in the table below:

Data Source: Company’s update

Drilling Information till date 

To date, 326.8m of diamond drilling has taken place with four holes (VRHD001, VRHD002, VRHD003 and VRHD004) logged and no samples submitted. The north-south strike of lode gold veining in Hill End goldfield is intersected by semi-regular crosscutting faults east-west, thus deforming the host rocks and lode mineralisation.

The term ‘cross-courses’ is used to refer to these crosscutting structures. Historically, these cross-courses have recorded the highest grades in the Hill End goldfields, with 'Whites cross-course’ as one among these enriched east-west crosscutting structures.

The visible gold has been stuck in hole VRHD004, which is currently being drilled. It is present in a 40 mm wide grey, crack-sealed quartz vein having minor carbonate, chlorite and iron oxides at 74.2 m/dh.

Red Hill gold project

Red Hill gold project is part of the high-grade historic Hill End gold mining zone. Red Hill line of lode lies on the east limb of the Hill End anticline and is contiguous with the Hawkins Hill deposit, which is approximately 10km to the south.

The company has highlighted the near surface potential of the Red Hill area, which was extensively mined historically but had a constraint of high-water table.

For further insights into the company's operations, click here.

Source: Company’s update

Vertex Minerals will accelerate its sampling and analyses of the mineralised intercepts as it needs to be incorporated in an updated Red Hill MRE scheduled for the December 2022 quarter. The company is planning to drill Red Hill in an upcoming exploration program with an intent to add significant value to the Project.

Source: Company’s update