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Highlights
- Completion of strategic diamond drilling at Lady Grey.
- Anticipation of assay results within six to eight weeks.
- Partnership and perseverance through unseasonal weather challenges.
Lanthanein Resources Ltd (ASX:LNR) recently announced the successful completion of a diamond drilling program at its Lady Grey Gold Prospect, marking a significant step in its exploration efforts. The focus of this drilling was on a modelled Moving Loop Electromagnetic (MLEM) conductor plate, located beneath Survey Line #1, which was identified as a high-priority target due to its alignment with a notable surface gold geochemical anomaly.
The Lady Grey Gold Prospect, situated near Covalent Lithium’s (ASX:CVL) Mount Holland mine site, is in a region that has historically been rich in gold deposits. The proximity to the historic Bounty Gold Mine, a site that has previously produced around 1.3 million ounces of gold, adds to the area's allure as a hotspot for gold exploration.
The drilling program comprised two diamond holes, LGDH #4 and LGDH #5. The first hole reached a depth of 325 meters, while the second, positioned about 200 meters east of the first, extended to 351 meters. The drill cores extracted from these holes have been transported to Perth for detailed geological logging and sampling, a process nearing completion.
The anticipation around these drill results is high, as the samples are expected to be dispatched for assay shortly, with results projected to be available in six to eight weeks. This timeline reflects the company's efficient workflow and commitment to advancing its understanding of the prospect's potential.
Brian Thomas, the technical director at Lanthanein, expressed excitement about the project, emphasizing the importance of the area's underexplored geological features and the soil anomaly of 256 parts per billion gold. He also acknowledged the challenges faced during the drilling operation, including significant delays caused by unseasonal rain. Nevertheless, the team remained persistent, with Terra Drilling playing a crucial role in navigating these obstacles and successfully completing the drilling program.
This phase of exploration at Lady Grey is crucial for Lanthanein as it continues to assess the viability of the gold prospect. The company's strategic approach to exploring and understanding the geological setting, combined with the technical expertise of its team and partners, underscores its commitment to unlocking value in the region. Investors and stakeholders are keenly awaiting the assay results, which will provide deeper insights into the potential scale and viability of mineral resources at Lady Grey.
