Metals Australia uncovers gold in rock chips at Eade, plans next exploration phase

Metals Australia (ASX: MLS) has identified anomalous gold at its Eade project in Canada, with rock chips returning up to 3.37 grams per tonne gold during a field mapping and sampling program.

The 3.37g/t gold sample was collected along strike of historic workings within the West Eade project area.

Another sample returned 0.82g/t gold further along strike.

Metals Australia claims the results indicate mineralisation extends along strike “over a considerable distance”.

Previous exploration at West Eade has identified about 8.3km of strike and found 7.41g/t gold and 11.45g/t gold in rock chips.

However, these discoveries have not been followed up with modern exploration.

Over at the project’s East Eade zone, previous exploration noted 6.7km of strike where rock chips assayed up tot 12g/t gold and a 1m channel sample returned 5.3g/t gold.

These targets are also yet to be followed up by modern exploration and Metals Australia noted they border TSXV-listed Azimut Exploration and SOQUEM’s Masta 2-Corvette project.

The next exploration phase at Eade will comprise follow up soil geochemical and till sampling to test broader mineralised zones and better define the mineralised corridor.

Metals Australia noted the follow up exploration is designed to identify mineralisation over a more significant strike length to enable prioritisation of targets for trenching, channel sampling and drilling.

The company anticipates modern exploration techniques will “open up a significant amount of strike length” and identify copper and gold at the targets.

Advancing Eade, Pontois and Felicie

During the September quarter last year, Metals Australia agreed to acquire a portfolio of projects including Eade, in addition to Pontois and Felicie in northern Quebec.

The projects cover the Lac Guyer greenstone belt which has hosted numerous high-grade gold, copper and base metal discoveries.

The project is about 120km north-east of Goldcorp’s Eleonore gold mine.

Eade is also close to the region’s Trans-Taiga highway which affords year-round access to the project and the Poste Lemoyne heliport and La Grande-3 airport.