Greenfields explorer Dreadnought Resources (ASX: DRE) has confirmed the presence of massive sulphides in the lower electromagnetic plate at the Chianti volcanogenic massive sulphide target within its flagship Tarraji-Yampi nickel-copper-gold project in WA’s West Kimberley region.
The discovery was made by a second hole drilled into the target, and comes five days after the first hole confirmed the existence of the same mineralisation in the target’s upper electromagnetic plate.
Upper and lower zones
The second hole – drilled at a -60 degree angle to a depth of 135.8m – intersected an upper and lower sulphide zone.
The upper zone, at a depth of up to 82.8m, was described as an interval of massive and semi massive sulphides within a black, fine grained, sulphide-bearing sediment.
The lower zone moved from a fine-grained, sulphide-bearing sediment into massive sulphides and finished in an altered footwall stringer zone.
It was intersected near the planned target depth of 110m and confirmed the effectiveness of ground based fixed-loop electromagnetic surveys for the definition of Chianti drill targets and airborne VTEM surveys for identifying massive sulphide mineralisation.
Both zones were closely associated with intensely-altered stockwork zones in their footwall positions with stringers and disseminations of various sulphides.
As expected, the second hole intersected similar lithologies to the first, with a series of bimodal volcanics, siliclasitic sediments and minor late stage mafic intrusives.
Dreadnought said the results highlight potential for the rest of the VTEM anomaly at Chianti to contain additional non-outcropping mineralisation.
To date, only 20% of the VTEM anomaly has been covered with ground based FLEM surveys.
FLEM surveys over the remaining 80% of the VTEM anomaly are now a priority.
The company said orientation soil sampling is also underway to highlight additional base metal anomalism in the area.
Drill core results are expected within the next six weeks.
At mid-morning, shares in Dreadnought were up 9.09% to $0.012.