Australian Mines (ASX:AUZ) has delivered some very promising results from the first hole of its maiden drill program at its Dixon prospect, part of its Doolgunna-Marymia Project.
Highlights include: 5 metres at 11.07g/t gold from 130 metres, including 1 metre at 29.11g/t gold; and 1 metre at 14.85g/t gold.
Adding to the near-term newsflow, further assay results for the remainder of the drill hole are yet to be received.
This provides the potential to increase width of the mineralised zone as last assay received was 1 metre at 14.85 g/t gold.
The results confirm a south-trending zone of gold mineralisation at Dixon, with follow-up reverse circulation and diamond drilling planned for November.
Benjamin Bell, managing director, commented:
“The discovery of high-grade gold mineralisation at Dixon prospect lends significant support to the company’s position that its Doolgunna-Marymia Project has the potential to host gold as well as base metal mineralisation."
Dixon is in similar geological setting to two world-class deposits, being Sandfire Resources' (ASX:SFR) DeGrussa Copper Mine and Northern Star’s (ASX:NST) Plutonic Gold Mine.
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