Australian Mines Ltd (ASX:AUZ) (FRA:MJH) through subsidiary Norwest Minerals is planning to reverse circulation (RC) drill two high-priority targets at the Marymia Project in Western Australia.
The Marymia project is held in joint venture between subsidiary Norwest Minerals and Riedel Resources Ltd (ASX:RIE).
The RC drilling follows a recent 85-hole, 6,192-metre aircore drilling program at Marymia on 400x100 metre grid spacing.
Aircore drilling was designed to evaluate northern extensions to historical gold mineralisation identified at the Dixon prospect.
READ: Australian Mines plans copper-gold drilling at Arunta West project
Norwest’s CEO Charles Schaus said: “Although the recent air-core drilling fell short on gold tenor, it did delineate the Dixon host contact northwards where it appears to coincide with a significant untested magnetic anomaly.
“The air-core results also revealed the necessity to use RC drilling to penetrate the thick transported cover which masks potential bedrock mineralisation across much of the project area.
“The VMS target has all the ingredients required to justify RC drill testing including anomalous in-situ grades in both soils and rock chips as well as a wide sequence of mineralisation in nearby RC drill hole MMRC003.
“These attributes combined with their location at the junction of a major basin-fault contact will make an exciting kick-off drill target once Norwest is listed.’’
Drilling to follow ASX listing
Norwest is planning an IPO this calendar year and plans to drill the two high-priority targets at Marymia prior to the end of the calendar year.
The first target is an untested 400x200 metre magnetic anomaly.
The second target is a soil anomaly area that includes a historical drill hole that intersected copper and zinc.