Blina starts work on bargain Goldfields gold project
Blina Minerals have no wasted no time getting onto the ground at their new Dingo gold project in the Eastern Goldfields.
The company told the ASX on Wednesday that a field crew had begun detailed geological mapping and geochemical sampling, just a fortnight after the acquisition of the project.
Blina snapped up the project for a bargain price of just $20,000, which includes 12 square kilometres of ground around a shallow body of gold mineralisation covering an area of 300 metres by 400 metres.
The project is located 160km north-northeast of Kalgoorlie and sits on the western flank of the Kilkenny tectonic zone which has been a conduit for mineralising fluids throughout the region.
Historical exploration has returned multiple significant drill hits, including 1 metre at 12.28 g/t Gold from just 9 metres down hole and 1 metre at 6.94 g/t Gold from 10 metres.
The shallow gold mineralisation represents a strong target in itself and interestingly, it has yet to be tested below 45 metres by historical drilling. An even bigger opportunity may lie in the fact that it is merely a secondary zone of Gold in cemented rock and saprolite.
The mineralised zone sits above an intrusive body that, according to the company, could be the source of the primary mineralisation and has also been subject to only limited drill testing.
The field crew will define targets for a new round of drilling by mapping the gold-rich ferruginous, cemented rock at Dingo and conducting geochemical sampling. This work will be combined with the results of reprocessing of the geophysical data, which began immediately after the acquisition.
The Dingo project represents a return by Perth-based Blina Minerals to their own backyard. The company’s other significant project is in Burkina Faso, where Blina is seeking to extend the term of a joint venture agreement after an improvement in the political situation in the West African country.
The Dingo Gold project is the company’s first acquisition after a review of several opportunities, which included copper projects in NSW and SA and Cobalt projects in North America and the Congo.
With a low acquisition price, shallow mineralisation and close proximity to Goldfields infrastructure, Dingo appears to offer plenty of upside.