A maiden 2250-metre drilling campaign being conducted by Gladiator Resources (ASX: GLA) at the Kroda gold prospect in the Northern Territory has confirmed the presence of substantial intervals containing quartz vein, coarse sulphide and elevated arsenic and sulphur mineralisation.
The intervals were detected at the Kroda 3 and 4 targets, across six holes for 943 metres and over a strike length of 1.4 kilometres, indicating the targets are connected at depth.
“These are very encouraging results, and a number of samples have been selected for gold sampling using fire assay,” the company said.
It is anticipated assay results will be available before year end.
Drilling at the advanced Kroda prospect began in mid-November with the primary objective of testing prominent chargeability anomalies identified during a mid-year high-resolution induced polarisation (IP) survey.
The “highly successful” survey defined three large, deep-seated IP chargeability anomalies within the prospect and representing high-priority drill targets for additional Kroda-style gold mineralisation.
The campaign also aims to verify grades reported from historic drilling and obtain crucial geological and structural information to enable resource definition.
Six reverse circulation holes have been completed to date, with another two currently in progress.
Results at three holes suggest the chargeability anomaly is due to a zone of quartz veining and disseminated sulphide intersected over a strike length of at least 400m.
A hole drilled to the south-west of Kroda 3 intersected significant intervals of elevated arsenic, suggesting the chargeability anomaly within corresponds to the downdip extent of auriferous quartz veins observed in historic drilling.
Gladiator said one hole had been suspended at 141m and will be completed with a diamond tail due to strong water flows.
All holes drilled have encountered substantial intervals with quartz vein fragments, coarse sulphide minerals (mainly pyrite with some chalcopyrite) and intervals of elevated arsenic and sulphur as determined by portable handheld xray fluorescent (XRF) analysers.
Located over 4500 square kilometres, the North Arunta gold project is a joint venture between Gladiator and Prodigy Gold (ASX: PRX).
The project covers a 200km-long gravity ridge associated with a paleoproterozoic succession of metamorphosed sedimentary rocks of the Lander rock formation, dolerite intrusions and large granite intrusions.
It sits on the 550km-long, gold-endowed Trans-Tanami Corridor – a first-order, crustal-scale fault spatially-associated with world-class Tanami deposits including Callie, Tanami and The Granites.
The Kroda prospect consists of four targets (Kroda 1 to 4) with a combined anomalous strike length of 14km.
At midday, shares in Gladiator Resources were trading 50% higher at $0.003, while shares in Prodigy Gold were down 1.30% to $0.076.