Golden Deeps confirms presence of more mineralised gold zones at Tuckers Hill

Golden Deeps ASX GED gold zones Tuckers Hill
New data has extended the total mineralised gold zones identified at the NSW project to five.

New Lachlan Fold Belt player Golden Deeps (ASX: GED) has reported two more mineralised zones at its Tuckers Hill gold project in New South Wales — in addition to three known ones.

Earlier exploration efforts in 1963 and 1981 returned significant assays.

The company has concluded that its ground is “significantly under-explored”.

Tuckers Hill is located near Mudgee on the hotly sought-after Lachlan Fold Belt, one of two projects acquired there in May by the company.

Historic mining on the project’s ground produced gold at an average grade of 38 grams per tonne.

Tuckers Hill is located within the historic Hill End goldfield and the company’s ground lies at the northern end of the modern-day Hill End gold project owned by Peak Minerals (ASX: PUA), formerly Pure Alumina.

Historic workings at the Hargraves goldfield, (discovered in 1851 and last worked for alluvial gold between 1929 and 1939) extend into Golden Deeps’ tenement.

Search of records reveals zones identified up to 57 years ago

Golden Deeps has now completed compilation of earlier exploration records that included surface geochemical data, geological mapping and mine plans.

This work has provided further information of historic mining and the structural setting of the gold mineralisation.

This included a 1963 sampling of quartz reefs at Tuckers Hill, which assayed up to 705g/t gold. It was from one of 24 rock chip samples taken from surface trenches and shafts along the Philips Vein, with the 24 returning an average grade of 68.45g/t gold.

In 1983, there was further sampling of dumps and quartz veins that returned multiple assays over 1g/t with a peak value of 28g/t gold.

The former Challenger Mining then conducted a detailed study of the old Hargraves goldfield, including Tuckers Hill. Details of the investigation were included in a 1985 prospectus and revealed a new mineralised trend that links historic workings at Reef Hill and the old Blue Spec mine.

Golden Deeps said the 1985 report validates the 1963 sampling results.

Furthermore, previous rock chip sampling at the Maitland Trend within the Tuckers Hill project area returned grades of up to 11.8g/t gold.

Only one hole has been drilled in recent times; it was completed by Challenger in 1988 and intersected 1m at 3.25g/t gold.

Once Golden Deeps secures requisite approvals, it plans to confirm these targets and firm up a drilling program.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.