ASX listed explorer Emu NL has found traces of a gold monster in northern Chile after it drilled through a 163m gold mineralised system, albeit at low grades at this stage. The company has discovered a substantial, epithermal precious metal system at its Vidalita prospect in the lucrative Maricunga precious metals belt and the hunt is now on for the mother lode.
ASX listed explorer Emu NL has found traces of a gold monster in northern Chile after it drilled through a 163m gold mineralised system, albeit at low grades at this stage. The company has discovered a substantial, epithermal precious metals system at its Vidalita prospect in the lucrative Maricunga mineralised belt and the hunt is now on for the mother lode.
One drill hole returned 162 metres grading 0.13g/t gold and was continuously mineralised from drill collar to the end of hole.
This hole demonstrates the enormous tonnage potential of the epithermal system penetrated by Emu’s 2017-18 drilling programs.
The company interprets there are at least two phases of mineralisation at Vidalita, one dominated by gold and another dominated by silver and base metals, particularly zinc and lead.
Significant recent intercepts of the gold mineralised zone include 48 metres grading 0.64 grams per tonne gold from 44m depth, including 8m @ 1.10g/t gold from 68m down-hole and 21m @ 0.54g/t gold from 157m depth, including 7m @ 1.12g/t from 166m down-hole.
The second zone dominated by silver and base metals, returned intersections up to 6m @ 211g/t silver from 215m depth, including an amazing 1m section grading 1,049g/t silver, 3.7% zinc and 2.2% lead from 216m down-hole.
Another impressive intercept from the second zone was 16m @ 88g/t silver, 0.94% zinc and 0.22% lead from 44m down-hole.
According to the company, the new discovery has the potential to replicate some of the other huge tonnage, moderate-grade, precious metal ore bodies in the same district.
Some of these deposits characteristically contain bonanza grade zones of gold and silver mineralisation and/or base metal intervals deeper in the ore system, closer to the feeder zone for the epithermal deposit.
A feature of the Vidalita assays are the thick zones of lower grade gold mineralisation that were intersected, which Emu says is a feature of the voluminous sulphide rich epithermal systems they are seeking in Chile.
Having been blooded by the huge tonnages of mineralised dirt at Vidalita, Emu is now in the hunt for the main source of the mineralisation where it expects to find better grades.
At present, gold and silver mineralisation has been defined over 1.4km on a north-south axis and 300m to the east-west. It remains open in all directions, including at depth.
Surface mineralisation from soil samples and rock chip sampling has also identified drill targets at several nearby prospects, including Jotahues, Peon and Arroyo Ancho, which are all likely to be part of the same epithermal complex as Vidalita.
There are numerous analogues for this style of mineralisation throughout the Maricunga belt that has a total precious metal endowment of 90 million gold ounces equivalent.