Our TNM Drill Down features highlights of the top gold assays of the past week (May 26-June 2). Drill holes are ranked by gold grade x width, as identified by our data provider Mining Intelligence.
Two Australian and one Canada-based gold projects topped this week’s ranking of the best gold assays. On Jun. 1, Catalyst Metals (ASX: CYL) reported the week’s best assay at the Four Eagles project, which the company believes has the potential to entail an extension of the historical 22 million oz. Bendigo Goldfield of Victoria. The company reported that hole FEDD150 cut 6.5 metres grading 197.2 grams gold per tonne from 6293.8 metres depth for a width x grade value of 1,282. The latest assays show drilling intersected gold in seven holes at the Iris Zone. This takes the total number of holes reporting gold to 14 and extends the strike length of the known mineralization from 350 metres to 500 metres. The Iris Zone sits about 150 metres below the shallow mineralization at Boyd’s Dam, within a near-vertical shear zone striking almost north-south and containing rich quartz, often laminated with arsenopyrite and native gold.
Kaiser Reef (ASX: KAU) reported the week’s next-best intercept at the A1 gold mine in Victoria. On May 29, the company said that hole A1UDG-528 returned 0.3 metres grading 1,715 grams gold per tonne from 25.4 metres depth for a width x grade value of 515. The hole is part of the company’s 1410 South drilling program targeting the southern A1 Dyke between the 1410mRL to just below the 1350mRL areas. The target zone represents one of, if not the most, under-drilled portions of the A1 mine, which is much higher (more than 100 metres) in the mine than the current production centre below the 1250mRL. Drilling resumed in the 1410 South Drive site testing a window of dyke around the historically mined Victory, Welcome and Dawn Reefs, as well as likely repeat structures in footwall and hanging-wall positions to these historically rich reefs. There is almost no exploration drilling data in this area. This historical data gap artifact may be attributed mainly to stope shadows and lack of historical investment in developing optimal drilling positions.
A Canada-focused joint venture reported the week’s third-best drill result. Kenorland Minerals (TSXV: KLD) and Sumitomo Metal Mining said on May 31 that hole 23RDD167 had cut 3.2 metres grading 138.74 grams gold per tonne from a depth of 466.45 metres for a width x grade value of 437443.9. The 2023 winter drill program was mainly designed to test the strike and depth of several new vein discoveries of 2022, including the R5, R6, R7, and R8 structures. Drilling was focused in an area between these new vein discoveries to the east and the R2 and R3 structures to the west, where there had been limited drilling to date. All drill holes intersected significant gold mineralization across multiple structures, linking the eastern vein discoveries to the western structures and defining a corridor of up to 1.8 kilometres of strike containing multiple sub-parallel vein structures hosting high-grade gold mineralization.
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