Frontier Resources (ASX: FNT) has received its best intercept to date from drilling at the Wart Hill precious and base metal massive sulphide deposit in Tasmania, confirming its excellent width and grade potential.
The result demonstrates the 45 kilometre long SMRV project area's prospectivity with 13.9 metres grading 1.11 grams per tonne (g/t) gold + 37g/t silver + 9.0% zinc + 4.5% lead + 0.3% copper.
Peak gold and silver were 8.11 g/t and 215 g/t respectively, over 0.55 metres. The company said drillholes have been cased with PVC and will be probed for DHEM in the next program.
Tasmania’s Mt Read Volcanics host a number of world class orebodies (Mt Lyell, Hellyer and Rosebery) and this intersection of thick, high grade gold rich base metal ore points to the potential for a Rosebery size/style orebody at Wart Hill.
There is high grade gold and silver in the lower part of main intersection, with 1.45m grading 6.34g/t gold plus 134g/t silver.
A hole in the 'lower' mineralised horizon intersected 0.4m of 0.4% lead + 0.76% zinc, from 49.3m to 49.7m and also 0.5m of 2.47% zinc + 1.1% lead, from 80.9m to 81.4m.
Preliminary geological re-logging of core suggests that deeper drilling may not have intersected the target horizon as previously considered, increasing the mineralisation potential at depth.
The Wart Hill Prospect is one of only a very few locations in Tasmania where smaller VHMS bodies have yet to be shown that they are part of a much bigger mineralized system.
Future work on the Wart Hill Prospect will include the estimation of an Inferred (modest) Resource.
On May 4 Frontier raised $7,366,715 through a placement and a share purchase plan to fund development at its project areas in Tasmania and the Andewa Project in Papua New Guinea.