iTech Minerals (ASX: ITM) has obtained fast tracked results for gold assays of up to 182 grams per tonne gold from rock chips at the Reynolds Range project in the Northern Territory.
"iTech Minerals fast tracked gold assays from the Reynolds Range Project to get an early indication of the gold potential of the prospects visited in the recent rock chip sampling programme," Managing Director, Mike Schwarz, said.
"The results show great potential for both high grade low-sulphide gold style veins systems at the Sabre and Falchion Prospects with outstanding rock chips up to 182 g/t gold and gold associated with copper mineralisation at both the Scimitar and Reward Prospects. The company eagerly awaits the remaining copper, silver and base metal assays in the coming weeks.”
The Reynolds Range project consists of three Exploration Licenses, currently being acquired by iTech Minerals Ltd, of which Prodigy Gold NL (ASX: PRX) holds 100% of two licences and 80% of another - 20% of the third license is owned by Select Resources.
The project covers a total of 375 km2 of the Aileron Province, part of the Paleoproterozoic North Australian Craton. The Project is located 90-230km NNW of Alice Springs with access from the Stuart Highway and then the un-sealed Mt Denison road.
The fast-tracked, fire assay, gold results at the Reynolds Range Project provides iTech Minerals with significant encouragement to advance exploration for copper and gold at the project. In particular, the 182 g/t Au rock chip at Sabre shows the potential for very high-grade gold in the low-sulphide quartz vein style of mineralisation. This style of mineralisation appears to be widespread with significant results at Sabre, Sabre Southwest and Falchion, covering an area of 1.8km x 1.1km. The confirmation of gold mineralisation with copper at Scimitar and Reward adds significant value to these polymetallic systems.
iTech is currently generating drill targets at Scimitar Project which has a significant untested EM anomaly believed to be associated with the nearby outcropping mineralisation.
The remaining copper-silver-base metal and lithium assay results are expected in the coming weeks and will help the Company prioritise the copper-gold and gold targets for drill testing.
