ACDC Metals continues to make heavy mineral sand hits at Watchem in Victoria
ACDC Metals (ASX: ADC) has hit the best total heavy minerals intervals to date in drilling at its promising Watchem project in western Victoria.
Results of up to 8% total heavy minerals have been returned from across 78 aircore drill holes at the Watchem heavy mineral sand and rare earth element project in the Murray Basin.
To help build on its already significant footprint in the area, ACDC has also added a number of strategic tenements to tie up the area’s along strike potential.
Eagerly awaiting further assay results
Chief executive officer, Tom Davidson, said the company is excited by the initial results and is now eagerly awaiting on additional results from assays obtained from 66 holes at Goschen Central and 43 from the Douglas project.
“We are very pleased to report strong and widespread mineralisation from the first holes drilled by ACDC on the Watchem project,” Mr Davidson said.
“The additional tenure acquired covers an extensive and prospective shore-line, along strike from high grades reported here. These results place ACDC Metals in a strong position to deliver a significant mineral resource.”
“Mineralogy assessment to classify the valuable heavy mineral distribution (zircon, rutile, ilmenite, monazite) is well progressed, and will be reported shortly. The Watchem project lies immediately north of Astron Corporation’s (ASX: ATR) bankable feasibility stage Donald project, which provides ACDC Metals with a high degree of knowledge and confidence on exploration potential.”
Significant intercept assays from the aircore program include 45m and 2.01% total heavy minerals from 0m, including 4.5m at 4.69% from 13.5m, 42m at 1.77% total heavy minerals from 4.5m including 3m at 4.2% from 39m; and 16.5M at 3.38% total heavy minerals from 30m including 4.5m at 6.91% from 36m.
Delay in mineralogy testing
Unfortunately, eagerly awaited mineralogy outcomes have been delayed due to laboratory constraints but Mr Davidson says they are well progressed.
“Independent consultants are undertaking both grain counting and QEMSCAN, which enables accurate reporting of full heavy mineral assemblage,” Mr Davidson said.
The upcoming assay results from Goschen central project relate to an infill program undertaken in April 2023 and will support the maiden JORC resource estimate.
New tenements add to the big picture
ACDC has entered into a strategic joint-venture under which it will provide a total of $111,140.46 in cash payments over a four-year period at agreed milestones.
The company now holds 2697 square kilometres of tenements in the prospective Murray Basin’s total heavy minerals and rare earth elements play.
The new tenements include EL007987 and EL007985, which adjoin the Watchem project licence area EL007642 to the north. The tenement package also includes exploration licence applications EL007907 and EL007908 which surround ACDC Metals’ Douglas project licence EL007544.