Cauldron Energy (ASX: CXU) has identified a new large high grade polymetallic prospect at its Marree Base Metals Project in South Australia, highlighting its growing potential.
Recently completed field mapping had identified a large series of workings within a 2 square kilometre radius including a 1.6 kilometre long fault zone with high-grade polymetallic mineralisation within an alteration corridor up to 200 metres wide at the Mt Freeling Prospect.
Geochemical assays of rock chip samples collected from mullock heaps of the old workings has returned very high-grade silver and lead grades over a large area including silver grades up to 2,830 grams per tonne and lead up to 33.9%.
Field reconnaissance has identified nine deep production shafts ranging from 10 metres to 50 metres deep as well as seventeen smaller scale pits and trenches in the general Mt Freeling region.
Preliminary reconnaissance surrounding the Mt Freeling Prospect has identified further clusters of historical workings with similar high grades of polymetallic mineralisation.
Evidence of up to at least three different styles of mineralisation including massive sulphides, breccia zones and carbonate replacement have been observed at the Mt Freeling Prospect.
Cauldron is currently completing sulfur and lead isotope work on selected samples from the Mt Freeling Prospect and surrounding areas to determine the likely source and age of the mineralisation.
Additional field reconnaissance is needed to determine the full extents of the mineralised zone.
Emphasis for future exploration is the region to the north of the Mt Freeling Prospect which includes the historical Pastime Mine (lead-silver), as well as the region to the south where the historical Hills Silver Mine is reported to occur.
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