The Lady Alma Layered Igneous Complex is an under-explored, yet highly prospective environment with significant potential to host copper-gold-nickel and platinum group elements (PGE) mineralisation.
The joint Bryah/Australian Vanadium Ltd programme was undertaken with Exploration Incentive Scheme grant funding of up to AUS$53,000 (US$40,000) from the Department of Mines, Industry Regulation and Safety (DMIRS) as a contribution towards drilling costs.
Commenting on the latest results, managing director Neil Marston said: "There is growing evidence, further supported by these recent gold results from the latest drilling, that cross-faults adjacent to the vanadium-titanium-magnetite deposit at Gabanintha have significant gold potential. The drilling result adds a second structurally located prospect, providing us with an exciting opportunity to further investigate nine targets over the 11km strike length of the deposit.
"Earlier this year we reported exceptionally high-grade gold assays of 10m grading 27.5g/t gold, including a metre at 182g/t Au within the New Hope Prospect, located about 1.7km to the north-west of this latest result. These results demonstrate to us that there is excellent gold potential in the area.
"We intend to have a drill rig on site next month to drill at New Hope and we will now put some additional holes in this latest gold discovery area."
Drilling was completed on five traverses, crossing the extent of the LALIC within Mining Lease 51/878. The holes were planned to extend out into the rocks both east and west of the intrusion, to define its boundaries.
A total of 5,539m were drilled (5,000m planned) across 113 holes. Vertical holes were generally spaced at intervals of 100m along each traverse line and drilled to blade refusal.
The company is completing a full multi-element suite, including whole rock geochemistry, rare earth elements and trace elements from the bottom of hole samples. This dataset will be applied in studies aimed to determine chemical zonation of the LALIC, to identify horizons that may be prospective for economic metal concentrations, both for Bryah and Australian Vanadium.
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