Caeneus Minerals (ASX: CAD) revealed it is expecting assays between mid-December and early January from aircore drilling at its highly-prospective Roberts Hill project, which is only 5km of De Grey Mining’s (ASX: DEG) Hemi gold deposit in the Western Australian Mallina Basin.
Chairman Davide Bosio said Caeneus was working with the laboratory to ensure urgency and priority for its assay results.
Laboratories Australia-wide are currently overloaded alongside a record number of exploration companies seeking to expedite drilling assays on the back of unprecedented activity.
“Roberts Hill has progressed rapidly since we obtained our heritage approval in August and we look forward to receiving results from our first aircore drilling program,” he said.
“We have boosted our technical team in anticipation of these results and the commencement of subsequent activities once we have a clear understanding of the geological outcomes.”
Once the assays are received, a new program of work will be submitted for further drilling at Roberts Hill, which is expected to commence in the March quarter next year.
Mr Bosio said the company remained confident that the revised assay schedule would be achieved to help understand the geological potential of the asset, located a short distance from De Grey’s Hemi gold discovery.
Caeneus’ maiden drilling program was designed to test six zones of geophysical anomalism prospective for structural and intrusive-related gold mineralisation typified within the Pilbara’s Mallina Basin.
A total of 197 holes were completed for 15,999m, penetrating through sand cover and testing the underlying bedrock lithology and structure.
Results showed that 84 of the holes terminated in granitic and mafic lithologies containing sulphide accumulations of varying amounts.
Sampling methodology involved the use of 4m composites on all holes except for 1m intervals being used where sulphide and silica alteration was observed.
To assist with progressing Roberts Hill and other projects, Caeneus has secured the services of senior geologist Charles Armstrong.
Mr Armstrong has more than six years’ experience and “significant exposure” in gold exploration.