Emerging explorer NTM Gold (ASX: NTM) has added to expectation of a new significant gold discovery at its Redcliffe project near Leonora, in WA’s Goldfields, with the final round of aircore drilling delivering high-quality results from the Hub prospect. The latest aircore hits at the Hub included 5m at 3.69g/t from 15m and 5m at 3.09g/t from 15m. NTM has begun a follow-up RC drilling campaign, with Hub a priority target among an expanding list of exciting new prospects at Redcliffe.
SUMMARY
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More quality results from the final Hub Prospect aircore holes
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RC drilling has commenced at Redcliffe with the Hub Prospect the priority focus
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Hub RC is the first part of a larger, aggressive drilling programme continuing in 2019
Emerging Goldfields explorer NTM Gold Ltd (ASX: NTM) (“NTM” or “the Company”) is pleased to provide an update on exploration progress at the Redcliffe Gold Project located near Leonora, Western Australia. The final aircore results from the Hub Prospect have delivered more outstanding grades, demonstrating the potential of the prospect. Follow-up reverse circulation (RC) drilling has now commenced.
The aircore program consisted of 301 holes for approximately 18,000 metres. This announcement covers results for the final six holes 18RAC296-301. The program successfully identified mineralisation at a number of prospects including the Hub, Infinity, Redcliffe East and Redcliffe South, Aliso and Bindy North (see ASX announcements 18 October 2018, 29 November 2018). Better results from the final holes includes:
HUB
5m @ 3.69 g/t from 15m in 18RAC300; and
5m @ 3.09 g/t from 15m in 18RAC299.
These latest Hub results are relatively shallow and within oxide material in two adjacent holes. The gold mineralisation is to the north west of the original discovery intersections of 10m @ 2.70 g/t Au and 7m @ 7.41g/t Au (see ASX announcement 18 October 2018).
RC drilling will test the depth potential of these intercepts, as well as the previously announced results on the drill lines further to the south.
The RC program will initially focus on the Hub and then proceed onto other areas identified in the aircore program including Infinity and Bindy North. The RC drilling will be suspended shortly before Christmas, then resume early in the New Year. In addition to testing new targets identified from the aircore, the program will further test a number of existing deposits to expand the mineralisation at depth.
NTM Gold Managing Director Andrew Muir commented:
“The final results from our large aircore drilling program have continued to validate the significant potential across the Redcliffe project area, and specifically at the Hub Prospect. The aircore program was an outstanding success with +1g/t gold intercepts at the Hub, Aliso, Infinity, Redcliffe area and Bindy North prospects. All of these require follow-up drilling. RC targeting the Hub Prospect has commenced, with at least 15 holes planned on a number of lines. The results from the RC program are expected in the New Year, and we expect this to generate positive news to kick start 2019.”
