TNT Mines Ltd (ASX:TIN) is trading higher after intersecting a broad massive intrusive-hosted gold interval during drilling of a virgin target at its Warriedar Gold Project in WA.
The gold explorer drilled hole RRRC0011 two kilometres to the north of the historical Reids Ridge mine, uncovering a gold intersection as broad as 86 metres.
Promisingly, the drill hole is also anomalous for gold from the surface to 116 metres deep within a granodiorite intrusive.
The target is compelling enough for TNT to fast-track a work program at the target, involving geophysics, petrology and drilling activity.
It has also seen shares rise as much as 40% to 21 cents intra-day on volume of more than 13 million by 1pm AEST.
“A compelling target”
TNT Mines CEO Matthew Boyles said: “The team is very excited about the potential for the Reids North intrusive to develop into a significant system. Mineralisation is hosted within an intrusive that outcrops over a known strike in excess of two kilometres that presents a compelling target.
“TNT will be following up this first pass program with a detailed geophysical review and further drilling in an attempt to better understand and grow this new gold system.”
The intersection
The most significant assays from hole RRRC0011 included a 20-metre interval grading 2.12 g/t gold from 88 metres to 108 metres.
This formed part of a broader intersection of 44 metres at 1.12 g/t from 68 metres which was itself within 86 metres at 0.71 g/t from 26 metres.
Ultimately, mineralisation within RRRC0011 is hosted almost exclusively within an oxidised and fresh granodiorite body that outcrops extensively for more than 2,500 metres to the west of the historical Reids Ridge mine location.
The maiden campaign
Before it discovered the gold interval, TNT set out to conduct an initial 11-hole RC program.
This was designed to test the down-dip extent of the existing Reids Ridge resource and targets along strike from the historical Reids Ridge mine. It is also proximal to the main Warriedar fault, dubbed Reids North.
Two other RC holes (RRRC0012 and RRRC0013) were drilled to the southwest of hole RRRC0011, but neither intersected mineralisation of the same magnitude.
However, RRRC0012 did intersect 20 metres at 0.10 g/t from 96 metres downhole.
Both RRRC0012 and RRRC0013 are now interpreted to be collared too far to the west of the granodiorite contact to have tested the prospective horizon.
What’s to come?
TNT is designing a follow-up RC drill campaign to further explore the discovery hole at Reids North.
It hopes to kick off the program as soon as possible after it completes drilling at the geochemical anomaly within the Eureka South asset.
In the meantime, a full geophysical review and targeting study will take place.
Because of the elevated sulphide mineralisation intersected, TNT believes the target will react favourably to electrical induced exploration techniques.