Chase Mining Corporation Ltd (ASX:CML) welcomes a preliminary field assessment by Red Fox Resources (ASX:FXR) Pty Limited that reveals the gold and copper potential of the Butchers Bore exploration play in the Cloncurry district of northwest Queensland.
A sampling and mapping program completed in late 2021 by Red Fox, in which CML holds 40%, returned up to 3.86 g/t gold in rock chip samples with a large soil anomaly defined over 700 metres.
All of the soil anomalies identified are open to the south, west and east and are associated with a zone of structural complexity and mafic volcanics/intrusives.
Sampling successes
There were 176 soil samples taken from 88 sample sites and at each site one 2-kilogram sample was collected at -1.6mm for (bulk cyanide leach (BCL) and one sample at -80# (180um) for multi-element analysis.
Red Fox also collected 27 rock chip samples and these were mainly selected on veining and alteration characteristics. Geological mapping was carried out at the same time.
New structural zone
Mapping and sampling have defined a structural zone, named the GW structure, which strikes east-west and is characterised by variable quartz, ± calcite, ± haematite veining with high gold values and moderate copper values.
The zone is poorly outcropping but appears to be from 1 to 3 metres wide. It is sub-parallel to the strike of the lithologies and occurs in an area strongly affected by faulting and dolerite intrusion.
Better gold values appear associated with elevated iron oxide and manganese oxides and haematite silica goethite alteration.
Copper as well
A parallel, strongly copper anomalous zone also occurs 400 metres to the north. Rock chip sampling returned high gold values to 0.78 ppm associated with strongly developed secondary copper with copper values to 21.7%.
This field program was of a preliminary nature and has highlighted the gold and copper potential of the area. The work covered about 20% of the gold anomalous catchment defining the area.
Follow-up plans
Red Fox plans to follow up these encouraging results with further mapping and as soon as practical after the wet season.
This work will be aimed at refining the anomalous zones and extending the zones to the south, east and west.