Announcement Date: 2022-07-26
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Australasian Metals Limited
Project name: Capella
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 26m @ 3.88g/t Au from 45m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Australasian Metals Limited (ASX: A8G, Australasian or the Company) is pleased to advise that the Company’s maiden drill program at the Capella gold project has returned high grade gold intercepts. The 1644m reverse circulation (RC) program focused on verifying and adding confidence to the QA/QC of the historical drilling at the Ayres Rock prospect for the delineation of a maiden JORC compliant resource, as well as testing an identified trend of mineralisation to the north-west of this prospect. The basement rocks in the project area consist of Bathampton Metamorphics, a subdivision of the Anakie Metamorphics. The units consist dominantly of quartz-mica schist and phyllite, with subordinate quartzite, amphibolites and calcsilicate rocks. Historical drilling indicated the continuation of a stockwork mineralised horizon at the tenement (Figure 1). 1995-2001, Australian Goldfields NL completed aeromagnetic, auger soil geochemistry, IP surveys, percussion and diamond drilling at the tenement. Together 28 RC holes for 3,388m were drilled. In 2008, Impact Minerals Limited drilled 15 RC holes totalling up to 2,490m. Historically, over 66 RC holes for a total of ~6,500m have been drilled across the tenement.
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