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Highlights
- Strata Minerals (SMX) reports high-grade gold and silver at the Black Dragon target.
- The Biranup project shows potential for significant mineralization.
- Next steps include further exploration to optimize future drilling activities.
In a promising development for investors and industry watchers, Strata Minerals (ASX:SMX) has recently announced impressive rock chip results from its Biranup project, situated in the heart of Western Australia. The initial field work conducted at the Black Dragon target has yielded high-grade samples, including gold up to 218 grams per tonne and silver up to 302 grams per tonne.
The exploration area covered a modest 200 square meters but was highly effective, with 61 rock samples collected, confirming the high potential of the site. These results not only corroborate findings by previous explorers but also provide a clear path for the upcoming phases of exploration.
Peter Woods, managing director at Strata Minerals (SMX), expressed enthusiasm about the findings, highlighting the project's location next to and along the trend from AngloGold Ashanti’s Tropicana mine, Australia’s second-largest gold producer. This proximity underscores the significant untapped potential at Biranup, characterized by minimal previous exploration but promising early results.
The Black Dragon target, a priority for the company, is situated within a 4.5-kilometre structural gold trend, mostly hidden under shallow transported cover. This area, marked by quartz veins, hematite breccia, iron-rich sheared basement schist and gneiss, and sericite-altered granite with disseminated pyrite, shows signs of extensive mineralization.
Interestingly, despite previous assessments for nickel, copper, and platinum group elements by former operators, the Black Dragon target's gold and silver potential had not been fully explored. The site's historic data, including rock chips, soil samples, and drilling outcomes, suggest a high-grade gold system is present.
Looking ahead, Strata Minerals (SMX) plans to integrate these promising results into their latest assays. The goal is to refine and optimize the exploration strategy for the next phase at Biranup, focusing on expanding the known mineralized zones and uncovering new areas of potential across the project's expansive landholding.
With these exciting developments, Strata Minerals (SMX) is poised to advance its exploration efforts, promising a potential revaluation of the Biranup project’s worth and a new chapter in Western Australia's mining narrative.
