Emerging Goldfields explorer NTM Gold (ASX: NTM) is preparing for a campaign of RC drilling at its Redcliffe project near Leonora to follow up a highly successful 301-hole, 18,000m aircore program. Cashed up following agreement for a $2m injection from DGO Gold (ASX: DGO) and a $950,000 placement at 4c to investors including directors, NTM wants to kick off RC drilling within weeks and target exciting new prospects including the Hub.
SUMMARY
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Excellent follow-up aircore drill results at Hub prospect
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Good results also received from Aliso and Bindy North prospects
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First-pass regional aircore program now complete
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RC program to commence within weeks
Emerging Goldfields explorer NTM Gold Ltd (ASX: NTM) (“NTM” or “the Company”) is pleased to provide an update on the aircore drilling at its Redcliffe Gold Project located near Leonora, Western Australia. The program is now complete, with the latest assays yielding more highly positive results from several areas.
The Company is now moving into the next phase of exploration, with reverse circulation (RC) drilling commencing in December. The RC programme will target new areas of mineralisation identified in the aircore program. Key targets will include Hub, Infinity Redcliffe East, Redcliffe South, Bindy North and Nambi.
The aircore program consisted of 301 holes for approximately 18,000 metres. This announcement covers results for holes 18RAC186-295. Results from holes 296 to 301 remain outstanding. The program successfully identified mineralisation at a number of prospects including the Hub, Infinity, Redcliffe East and Redcliffe South (See ASX announcement 18 October 2018), and more recently, at the Aliso and Bindy North prospects. Better results include:
HUB
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10m @ 3.21 g/t incl. 5m@ 5.12 g/t in 18RAC291;
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2m @ 2.50 g/t to EOH in 18RAC249; and
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10m @ 1.14 g/t Au in 18RAC245.
ALISO
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5m @ 3.56 g/t in 18RAC275; 5m @ 1.22 g/t in 18RAC269; and
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5m @ 1.12g/t in 18RAC273.
BINDY NORTH
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5m @ 1.57 g/t in 18RAC261.
NTM Gold Managing Director Andrew Muir commented:
“Our aircore drilling program has delivered excellent results at a number of prospects to highlight the significant potential across the Redcliffe project area. While the Hub results are exceptional, the Aliso, Infinity, and Bindy North prospects all delivered +1g/t intercepts and will require follow-up drilling, representing new areas of mineralisation. Follow-up RC drilling is planned to commence in the next few weeks, to finish off a very successful 2018 for NTM and our shareholders. The results from the RC program are expected in the New Year, which should generate a positive news flow to kick off 2019.”
