New geochemical sampling has further enhanced the prospectivity of the Main Ridge Gold Prospect_,_part of DevEx Resource’s (ASX:DEV) 100%-owned Basin Creek Project in NSW.
Managing Director, Brendan Bradley, said the latest results have significantly expanded the extensive system of gold-in-soil anomalies delineated at the Main Ridge Prospect and identified additional priority drill targets.
Mr Bradley said the results show that the gold anomalies form a continuous trend which stretches the full +3.5km lengthof the Main Ridge Prospect, where previous rock chip sampling by the company returned grades of up to 8.0g/t Au in strongly altered felsic to intermediate volcanic and porphyry rocks.
These new results from our systematic program of soil geochemistry at Basin Creek indicate that we have a near surface and continuous gold system extending over a very large area which is much more extensive than we initially believed,” he said.
“This is an exciting development right on the eve of our maiden drill programme, which is scheduled to get underway next week.
“The Basin Creek Project area has had little exploration since the early 80’s, despite its location within one of the world’s most endowed mining regions.
“Building on the strong foundation established by our exploration results over the past six months, the upcoming drilling programme will test the potential of this large and highly prospective near surface gold system.”
Granted in February this year, the Basin Creek Exploration Licence is located to the south-west of the Company’s Junee Copper-Gold Project and represents a significant addition to DevEx’s holding in this highly prospective region
Follow-up soil geochemical surveys is currently in progress on the south-eastern side of the Main Ridge Prospect, where recent rock chip sampling identified anomalous gold, up to 1.2g/t Au, within sulphide- bearing quartz veins. The compilation of exploration data has resulted in the definition of several large +1,000m long priority drill targets combining to form one continuous +3.5km long gold system.
The company is also expanding the size of the upcoming drill programme to include these additional gold anomalies within the +3.5km long gold system defined at the Main Ridge Prospect.
