A single diamond drillhole into the Jacia chargeability anomaly at Red Mountain Mining’s (ASX: RMX) Mt Maitland project in WA’s Murchison region has returned “encouraging” gold and base metals indications.
The anomaly was drilled in May to a depth of approximately 370m and intersected potentially gold-bearing sulphidic banded iron formations (BIF) along with minor occurrences of chalcopyrite (copper), sphalerite (zinc) and galea (lead).
Jacia has been interpreted to be associated with a combination of disseminated pyrite within the fault zone and the sulphide-magnetite-bearing BIF.
It is coincident to an area of structural interest and potential hydrothermal activity identified through airborne magnetic imagery and host to historical gold-copper workings containing malachite mineralisation.
Two zones of intercalated, pyrite-bearing BIF and amphibolite were also intersected during drilling and are believed to be prospective for gold mineralisation.
BIF-related gold mineralisation has previously been observed at the Lenanphyl prospect drilled in late 2020.
Petrophysical work will be undertaken on both zones to fully determine the source of the geophysical anomaly.
Logging of Jacia’s assays noted minor occurrences (or blebs) of copper-zinc-lead associated with quartz veining, leading Red Mountain to consider a program of follow-up exploration.
“Although the [bleb] quantities would not be deemed economic, the presence of such minerals within veining does provide encouragement that the Jacia trend has the potential to host a base metal deposit and therefore warrants further investigation,” the company said.
Jacia is interpreted to be prospective for volcanogenic massive sulphide-style precious and base metal mineralisation.
It is located on the western margin of the Maitland greenstone belt which is home to numerous precious and base metal deposits including DeGrussa and Monty (owned by Sandfire Resources, ASX: SFR), Horseshoe Lights (Horseshoe Metals, ASX: HOR) and Forrest (Auris Minerals, ASX: AUR).
Maitland South drilling
Red Mountain has commenced diamond drilling at the Maitland South prospect, comprising a single hole to approximately a 420m depth and coinciding with the down-dip extension of the mineralised shear zone which extends over 500m.
The prospect is characterised by extensive historical workings and shafts, with past exploration identifying multiple mineralised intersections throughout the shear zone.
Previous drilling suggests gold mineralisation at Maitland South to be associated with sulphidic quartz veining hosted within a mafic shear zone.