Shree Minerals Ltd. (ASX:SHH) announced that it has lodged an application for a new exploration licence (ELA 6147) over the historic Rock Lodge gold mining workings in NSW. The tenement is prospective for orogenic, Intrusion Related Gold Systems (IRGS) and skarn gold mineralisation.
The lodging of the new application strengthens Shree’s foothold in the Lachlan Fold Belt beyond its Turondale project. Previous drilling result included grades up to 5.36 g/t gold, 55.6 g/t silver, 0.12% bismuth, 0.8% copper and 1.46% zinc.
Shree Minerals traded at $0.013 a share on 3 November 2020, registering an increase of ~18% against the previous close.
All financial information pertains to Australian Dollar unless stated otherwise.