With all assay results from its recent air-core drill program at its Chalice West project now back from the laboratory, Auric Mining says widespread gold and nickel mineralisation can be added to its rare earth elements discovery.
The latest results include another five holes returning anomalous gold values at a 10 parts per billion, or “ppb” gold cut-off.
Anomalous nickel intercepts were also returned in another five drill holes, including 4 metres at 1,231 parts per million, or “ppm” nickel from 20m.
The company is moving quickly on the positive results and has scheduled more drilling early next month.
Several RC drill holes are planned near continuous gold anomalism hosted within basalt 800m to the south of historic drilling together with two holes to test fresh ultramafic rock beneath nickel anomalism on the same traverse.
Auric’s air-core program totalled 227 holes for 7,227m and finished in November last year with initial results released in December. They defined three ultramafic units with two holding distinct nickel anomalies.
Notable assay results then included a 9m intercept going 3636ppm nickel from 15m including a 2m hit at 6663ppm nickel from 18m. Another hole recorded a 13m section recording 2116ppm nickel from 20m. Nine of the company’s drill holes showed evidence of anomalous nickel intercepts.
The initial assay results also revealed a 4m hit at 3591ppm total rare earth oxides, or “TREO” from 41m. That section included a high-grade 1m intercept at an outstanding 11,038ppm TREO from 42m, including an impressive 22 per cent magnetic rare earth oxides, or “MREO”.
Results have now been collated for all 1961 composite samples though the final rare earth results are yet to be released.
Auric Mining was established to explore for and develop gold and other mineral deposits in the Widgiemooltha-Norseman area of Western Australia and Chalice West, covering about 408 square kilometres about 50km north-west of Norseman, is one of four projects owned by the company.
Auric is hoping nearology plays its part. Chalice West is adjacent to the Chalice gold mine, which has produced more than 670,000 ounces of gold in seven years.
Auric says its project’s geology mirrors that of Chalice Mine and its air-core program focused on the gold anomalism associated with ultramafic and mafic units that were intersected in a 1997 air-core program by a previous owner.
However, whilst gold mineralisation might be expected, the presence of MREO – in hot demand because they are used in many modern high-tech products such as electric vehicles and smartphones – is a welcome bonus.
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