Ventnor Resources Limited (ASX:VRX) has planned follow up diamond drilling at the Fire Dragon prospect in the Biranup Project, located 370km NE of Kalgoorlie. The two hole drill program is following up historical bottom of hole assays including 0.32% cobalt and 28.7g/t silver. Drilling will commence in April, with results expected in the June quarter.
- Drilling at Fire Dragon Prospect to follow up on cobalt anomaly:
- Significant cobalt and silver anomaly
- Previous assay of 0.32% cobalt, 28.7g/t silver
- Two hole diamond program
Ventnor Resources Ltd (Ventnor) (ASX: VRX) will drill two diamond holes at the Fire Dragon prospect in the Biranup Project area, 370 kilometres north-east of Kalgoorlie in Western Australia, following up on an historic bedrock multi-element assay.
Managing Director Bruce Maluish said: “The drill target has been determined by examining historic drillhole assays at the Fire Dragon prospect. The bedrock assay was from a bottom-of-hole regional drilling program and the target is planned to intersect the top of a structure that has been interpreted from recent drilling in the area.
“The drill target is in close proximity to the recent drill program at the Fire Dragon conductor, which has been used to determine the orientation of the targeted structure,” Mr Maluish said.
In November 2015, Ventnor announced the identification of significant cobalt and silver anomalism at Fire Dragon, in wide spaced, vertical, historic aircore drilling (Refer ASX Announcement 16 November 2015). This type of drilling can be an effective means of vectoring into mineralisation where there has been lateral dispersion of metals during the weathering process. Fire Dragon is at the southern end of tenement E39/1828 where there exists a 20-80m thick layer of transported sand overlaying the basement. However, a typical weathering profile does not exist at Fire Dragon, with only a 5 metre thick slightly weathered zone on top the fresh basement. Multi-element assays are available only on the bottom of hole (BOH) sample, and are therefore a discrete fresh rock sample.
The BOH sample for drill hole MDA345 returned a result of 0.32% cobalt and 28.7g/t silver.
The drillhole position is shown on the TMI airborne magnetic image, below, followed by the gravity image.
The recently drilled diamond hole at Fire Dragon has established the orientation of the bedrock stratigraphy in the area. The magnetic and gravity data support this orientation in the MDA345 area, and as a result, the following section below, has been used to propose the drilling of two diamond holes to test this mineralisation.
The drilling of two diamond holes proximal to the intersection will allow for the best geological understanding of the potential for economic mineralisation. The holes will also be cased with PVC to allow for a down hole electromagnetic survey to be undertaken.
The drilling is expected to commence in April 2017 and will be undertaken in conjunction with other programs in the area. The Company expects assay results to be available in the June quarter following logging and cutting of core.