Red 5 Limited (ASX: RED) has obtained positive results, identifying several new zones of gold mineralisation, from recent exploration drilling at the 100%-owned South Yandal Gold Project, located 20km west of the Darlot Gold Mine in the Eastern Goldfields region of Western Australia
Two separate air-core programmes totalling 5,708 metres of drilling have been completed, targeting the NW Structure target and the Coodawa Prospect.
The programmes were designed to test high-priority targets across the prospective but underexplored South Yandal area, proximal to the Ockerburry Shear Zone, a major regional- scale fault system linked to gold mineralisation in the region.
Gold assays from the initial four-metre composite samples have returned promising results, identifying zones of significant gold mineralisation at both target areas.
In particular, highly encouraging first-pass results were achieved at the NW Structure, where drilling intersected multiple intervals of vein-hosted gold across broad zones within the 1.2 km target strike length.
Initial observations show gold mineralisation is spatially associated where the north-west structures intersect stratigraphic boundaries. Importantly, many of the mineralised holes ended in anomalous gold, indicating the mineralisation continues deeper into the bedrock.
Sample re-splits at 1-metre intervals from the mineralised zones have been submitted for analysis, with assays currently pending.
Further drill programmes, following up on these new gold intercepts and testing other high-priority areas within the prospective exploration tenure are planned.
These positive reconnaissance exploration results at Yandal South are very encouraging, with the air-core drilling confirming significant gold anomalism,” Managing Director, Mark Williams, said.
“We are now planning to undertake a seismic survey over this area to help identify structural and lithological features for targeting during the next round of drilling.”