Native Mineral Resources Holdings Limited (ASX: NMR) has identified further potential with the receipt of a second set of assays obtained from diamond drill hole MPD003 completed at the company’s Maneater polymetallic sulphide breccia Prospect in North Queensland.
Drilling has further highlighted the polymetallic nature of the hydrothermal breccia with grades reaching, and exceeding, values predicted for the depth of drilling.
Key highlights from the 469 samples are:
- Seven one-meter samples at over 1% Zinc (Zn) and up to 2.8% Zn.
- 28 one-meter sections of core returning over 0.5% Zn and 134 one-meter samples over 0.1% Zn.
- 69 one-meter samples returning over 10ppm (g/t) Silver (Ag) with grades up to 59.4 g/t Ag.
- 72 one-meter samples returning over 1000ppm Lead (Pb) and up to 0.72% Pb
- Maximum preliminary gold grades of 1m@ 0.25 g/t Au (373-374m) from samples received up to a depth of 376m. Eight metre-samples over the historical maximum of 0.1g/t Au.
The identification of sulphides in over 440m of drill core, increased silver and zinc grades, and lower gold and copper grades are further confirmation of NMR’s interpreted metal zoning with higher gold grades anticipated at depth.
Managing Director, Blake Cannavo, said these results are significant as they considerably improve NMR’s understanding of the sub-surface shape of the target breccia. Accordingly, NMR will be completing geophysical surveying prior to completing the next deeper diamond drill hole to constrain the interpreted sub-surface tilt of the sulphide zone.
The assay results from shallower hole MPD003 strongly supports the interpretation that we are currently exploring the top of a zoned, and potentially very large, mineralised system. The results perfectly fit the interpretation that the system is like the Mt Wright Au deposit also in North Qld,” Mr Cannavo said.
“Furthermore, the identification of sulphides in over 500m of drill core proves that the breccia is significant in volume. Diamond hole MPD003 was drilled at a high angle to, and shallower (approx. -60 degrees) to MPD003 and was aimed at testing the southern limits of the breccia pipe.
“Based on the assays, and like MPD002, we consider the hole to be open at depth. The results are extremely positive, and the company is confident in moving forward with a targeted geophysics program to help better define the sub-surface extension of the sulphide zone before it completed the planned deeper diamond drill hole MPD004.”
Maneater Polymetallic Breccia
Assay and geochemical results obtained from MPD003 all add significant confidence in the interpreted metal zoning model for the Maneater Breccia. The results from just the first two diamond drill holes provide evidence that the interpreted model for the Maneater Breccia is continuing to prove correct.
Based on all of the results obtained so far, NMR is planning a deep drill hole in order to target the inferred higher-grade (Au, Cu) core of the system, however, the company is opting to complete a geophysical survey over the target in order to help better pinpoint the trend of the sulphide breccia at depth. Drilling of MPD002 had been planned to reach the deeper target, based on the assumption that the target is a vertical pipe, but owing to technical issues, the hole was terminated early.
Using the recently obtained assay results, as well as the structural and rock type interpretations from both drill holes, NMR are refining the interpreted geometry of the breccia “pipe” before completing the next hole.
