Recent ASX debutant Albion Resources (ASX: ALB) has announced high-grade copper, lead and zinc results uncovered through a review of historical rock chip sampling at its Pillara East project in Western Australia’s Kimberley region.
The 120 rock chips were collected by BHP (ASX: BHP) in the early 1980s and Western Areas in 1995.
According to Albion, numerous samples had returned elevated zinc, lead and copper with assays exceeding 10% combined lead-zinc, with some samples returning more than 3% copper.
Best results include 36% lead, 35.7% lead, 27.5% zinc, 26.1% zinc, 3.66% copper and 3.65% copper.
The review of data found most of the high-grade results corresponded with previously identified gossans, including the Extreme, Chance and Devious gossans.
Albion executive chairman Colin Locke said the identification of such strong copper, lead and zinc results early in the company’s history is “exciting”.
“Shareholders can draw particular encouragement from the widespread and consistent grades of zinc, lead and copper along the length of the gossans, which await drill testing,” he added.
Albion listed on the ASX at the end of April after raising $5 million through an oversubscribed IPO. Funds are expected to go towards exploration and development of the company’s flagship Lennard Shelf assets.
Pillara East is one of four sub-projects located within Albion’s 393sq km Lennard Shelf project, which is about 30km southeast of Fitzroy Crossing in WA’s northwest. The other sub-projects are Prices Hill, Sadler Ridge and Oscar Range.
Pillara East is an eastern extension of the historical Pillara mine, now held by Chinese miner, Northwest Nonferrous International Investment Company Limited.
Albion’s first pass analysis has highlighted target areas and the company has now submitted a program of works application to WA’s Department of Mines covering some of the identified positions.
Albion plans to undertake geochemical sampling and geological and structural mapping programs to confirm additional drill targets and generate new high-grade lead, zinc and potentially copper discoveries across the Lennard Shelf tenements.