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Coziron Resources encouraged by gold recovered by prospectors at Pilbara project

Published: 05:06 20 Sep 2018 BST

Gold nuggets from Top Camp
Acid-cleaned gold recovered by metal detector from Top Camp prospect area

Coziron Resources Ltd (ASX:CZR) jumped 25% to 2 cents on news of the recovery of 53.4 grams of gold by prospectors at the Top Camp prospect of its Croydon project in the Pilbara region of WA.

The company has received reports from four prospectors who recently worked the area with metal detectors.

This acid-cleaned gold was recovered at about 30 centimetres below the surface and is intergrown with quartz and has rhombic indentations suggesting that carbonate was present.

READ: Coziron Resources secures $1 million loan facility for WA multi-commodity exploration

The association of coarse gold with quartz and carbonate is typical of late-stage vein development in a gold deposit generated by hydrothermal activity.

With a long history of eluvial and alluvial gold recovery and recent publicity about gold from conglomeratic rocks at the base of the Fortescue Group, parts of Top Camp have been over-pegged by a number of 40E Prospecting permits.

Prospectors permitted to carry out small-scale exploration

These permits allow prospectors to undertake small-scale exploration for gold on the surface using hand-tools and methods such as panning, dry-blowing or metal-detecting.

A condition is that prospectors must report the amount of gold recovered to WA Department of Industry and Safety.

A copy of the report must be supplied to the underlying holder of the exploration licence, which in the case of Top Camp is Coziron.

Focus on structural gold

While the Croydon project has a significant amount of the basal member of the Fortescue Group that hosts conglomeratic rocks, Coziron’s focus is on identification and exploration of structural gold targets.

It is utilising geological and geochemical data supplied by Creasy Group and historical reports lodged at the Geological Survey of Western Australia on the Top Camp and Bottom Camp prospects.

Croydon Top Camp prospect on a digital 1:100K map from the Geological Survey of Western Australia.

This gold is being reported from an area of the De Grey Basin that is disrupted by major structures and is also known to have anomalous concentrations of typical gold pathfinder elements such as arsenic and antinomy.

Such areas typically represent high-quality targets for hydrothermal gold-deposits.

Systematic exploration planned

More systematic exploration is planned to follow-up the priority target areas.

The company has re-submitted 200 auger sample pulps for comprehensive analysis to assist with targeting the drilling.

Exploration mapping and sampling and a high resolution, airborne magnetic and radiometric survey is scheduled to begin at the Corydon project in October.

Field-work at Top and Bottom camps

At Top Camp, the field-work will infill and extend sampling from the area with gridded auger drilling and select sites for the first round of proposed RC drilling.

At Bottom Camp, available data has identified a brecciated zone along the crest of an anticline with extensive evidence of historical prospector activity and was the intended target for drilling in the early 1980s.

However, this did not intersect the targeted zone.

Bottom Camp has emerged as a priority as it is near the main access track to Top Camp.

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