Symbol Mining (ASX: SL1) has discovered high-grade zinc and lead at the Aisha prospect, part of the company’s 60%-owned Imperial project in Nigeria.
A 3,500m reverse circulation drilling campaign was carried out across the Aisha prospect and uncovered 800m of strike, which remains open to the north, south and at depth.
The initial program tested shallow artisanal workings and outcropping veins.
Notable drill intersections from the campaign were 22m grading 8.2% zinc from 64m including a 5m interval with 21.8% zinc, 2m grading 20.1% zinc from 52m, and 3m grading 16.5% lead from 68m.
“The board is extremely pleased with the additional results of the reverse circulation drilling campaign which confirmed Aisha’s potential for extensive high-grade zinc and lead mineralisation,” Symbol chairman Andrew Simpson said.
“Importantly, the Aisha mineralisation is open along strike and at depth and, therefore, further drilling is obviously warranted,” he noted.
Next drilling program imminent
Mr Simpson said 1,500m diamond and 3,000m of reverse circulation drilling will begin next week at Aisha – targeting shallow and deep mineralisation.
Symbol has also firmed up 30 high priority targets across Imperial, which it claims are similar in nature to Aisha and the project’s most advanced deposit Macy.
“The remaining targets will be aggressively tested over the next 12 months, underlining the company’s key strategy of identifying and developing a globally significant resource, not only in terms of high-grade zinc and lead mineralisation, as already discovered at Macy and Aisha, but in terms of total tonnes available for development,” Mr Simpson said.
Imperial is held under joint venture with Goidel Resource which has been operating in Nigeria for more than 20 years.
The project’s tenements span 510 square kilometres and comprise three exploration leases and three small scale mining permits.
A JORC-compliant resource was announced for Macy late last month. Only 1km from Aisha, the indicated and inferred resource for the Macy sits at 132,700t grading 18.3% zinc and 2.1% lead.
By mid-afternoon trade, Symbol’s stock price had slipped 2.56% to A$0.038.