Australasian Metals Limited (ASX: A8G) has completed a data review of the extensive work completed at the Ayres Rock Prospect located in the Capella Gold Project located in Central Queensland.
This study has identified drill targets to follow-up on the high-grade epithermal gold veining identified in drilling at the Ayres Rock Prospect. The prospect is interpreted to be a structurally controlled, epithermal style quartz vein breccia unit hosted within rhyolitic ignimbrites of the Silver Hills Volcanics.
Widespread alteration in the volcanics consists of quartz-albite-chlorite-carbonate-pyrite +/- epidote and rare orthoclase.
The Ayres Rock deposit is associated with alteration characterised by an outer zone of moderate to intense hematite alteration and/or albite or K-feldspar alteration and an inner zone of significant chlorite and/or sericite alteration. Mineralisation is comprised of fine- grained free gold and fine gold grains associated with disseminated pyrite. Cross cutting, fine grained quartz veins display crustiform and colloform epithermal textures.
The data review and study has identified potential high-grade plunging shoots.
The study has identified several targets with potential for further mineralisation where the Australasian team has identified potentially high-grade plunging ore shoots. Potential exploration drill holes on two sections have been designed to test the plunging shoot targets at varying depths.
Next Steps
Follow up drilling programs are currently being designed. It is proposed to complete diamond drilling to explore for a northerly plunging high-grade mineralised shoot.
The proposed drill holes would intersect the target on two sections to the north of the known high-grade zones of mineralisation.
