Tambourah Metals (ASX: TMB) will fast-track follow-up activities on new gold zone holes confirmed in quality assay results received from the first of five diamond holes at its Tambourah gold project in Western Australia.
The TBDD001 hole – drilled as a diamond twin to Tambourah’s earlier reverse circulation (RC) drill hole TBRC00261, which intersected significant gold mineralisation – intersected two heavily mineralised quartz/sulphide veins at depths of 58.35 metres and 69.64m.
The high-grade veins identified at Tambourah straddle a lower-grade but continuously mineralised zone extending over a downhole width of 15.1m.
Larger system
Executive chair Rita Brooks said the zone has the potential to indicate a larger structurally controlled system that remains largely untested by drilling.
The results highlight the potential for exceptional gold grades associated with the quartz vein lode system at Tambourah, extending and confirming historical results.
“The maiden diamond drilling (DD) at the Tambourah King lode confirms the mineralisation is at a relatively shallow depth and the structural information derived from this initial DD campaign will assist in targeting down-dip and down-plunge extensions to the gold mineralisation.”
Strong end to the year
The Tambourah gold drilling is part of what looks to be a strong end to the year, with the company cashed up to take the next steps after recently receiving binding commitments for a placement of up to $330,000, plus an additional $45,000 from the board and management.
The company’s cash position was $2.18 million as of 30 September 2024.
Subsequent to the end of the quarter, the company received further backing through a $180,000 grant from the WA government that is being used to support the company’s exploration concepts at the Alexandria prospect within the Tambourah King project.
New mineralisation
One area the company is excited to follow up on is a new intrusion-related style of mineralisation identified at its World’s Fair site.
If proven, this mineralisation has the potential to significantly increase the scale of the Tambourah project.
De Grey Mining’s (ASX: DEG) Hemi deposit is a prime example of this significant new play in the Pilbara region.
Get the wire before the market opens.
The ASX small-cap stories that matter, filed before 9am AEST. Curated by the Small Caps desk.