Australian Potash Ltd (ASX:APC) has welcomed the latest drilling results from its 2021 drilling program at the Lake Wells Gold JV by joint venture partner St Barbara Ltd (ASX:SBM) (SBM), where a follow-up drill program to further understand the geographical scale of mineralisation has been planned.
Field crew and diamond drill rig mobilisation will take place in late Q1 FY22 with the program comprising up to 16 diamond drill holes for around 4,200 metres.
Notable results returned from the 2021 drilling program include:
- 1.9 metres at 14.25 g/t gold from 73.5 metres, including 1 metre at 26.9 g/t from 73.5 metres;
- 1.1 metres at 1.14 g/t from 78.9 metres;
- 1.8 metres at 0.53 g/t from 82 metres;
- 1.6 metres at 3.46 g/t from 109.2 metres, including 0.8 metres at 6.51 g/t from 109.2 metres;
- 2.5 metres at 0.85 g/t from 116.5 metres, including 1 metre at 1.62 g/t from 117 metres;
- 1 metre at 0.52 g/t from 128 metres; and
- 7 metres at 0.52 g/t from 140 metres, including 2 metres at 1.07 g/t from 144 metres.
Gold grade “very encouraging”
Speaking to the results, managing director and CEO Matt Shackleton said: “The grade of gold mineralisation seen in only the second DD hole completed at this project is very encouraging.
“The Yamarna Shear Zone hosts numerous gold deposits, including the Golden Highway, strongly supporting the exploration model being followed by St Barbara.
“We look forward to the FY22 program and these additional diamond drill holes as we better understand the significance of what has been uncovered.”
Drilling program
Preliminary exploration work conducted by APC, and continued by SBM, was designed to understand the geology and mineralisation potential of the Yamarna area, which hosts the fertile Yamarna Shear Zone.
During FY21, a third phase of aircore (AC) drilling was completed for an additional 19,853 metres.
The first phase of reverse circulation (RC) drilling, which included 18 holes for 2,328 metres, and diamond drilling, totalling three holes for 1,034 metres, was also completed.
Next on the agenda
While a work program is being planned for FY22, associated assay and geochemical analysis, structural logging and lithological analysis is also set to be completed to understand the scale and significance of the mineralisation discovered in the FY21 exploration programs.
Mobilisation for the diamond drilling program is anticipated to begin in late Q1 with the drilling component of the program to be completed by end of Q2.