Critical Resources Ltd (ASX:CRR) believes it is sitting on some high-grade zinc, lead, copper and silver, following assay results from its fourth and fifth drill holes at its 100%-owned Gibson’s prospect at Halls Peak.
Two diamond drill holes intersected further zinc, lead, copper and silver bearing zones of sulphide mineralisation.
These were step-out holes – not twin drill holes of any previous hole – and reveal extensions down dip and to the north west and north of previously known mineralisation.
Drilling highlights
- 7.53 metres @ 4.20% zinc, 1.92% lead, 0.39% copper, 19.15g.t silver, 0.11g/t gold, from 120.4 to 127.93 metres downhole, including 0.9 metres @ 10.45% zinc, 5.67% Pb, 0.39% copper, 26.5g/t silver, 0.06 g/t gold from 124.6 to 125.5 metres downhole.
- 7.18 metres @ 3.63% zinc, 1.89% lead, 0.77% copper, 15.82g/t silver, 0.09g/t gold from 51 to 58.18 metres downhole, including 0.3 metres @ 15.7% zinc, 0.08% lead, 6.25% copper, 26.2g/t silver, 0.59g/t gold from 51 metres downhole.
- 1.28 metres @ 13.5% zinc, 4.75% lead, 0.71% copper, 21.5g/t silver, 0.09g/t gold from 56.87 to 58.15 metres downhole.
These two drill holes continue to demonstrate the potential extent of a heavily mineralised system at depth.
The company is awaiting assays for one of the holes from 99.7 metres to 201.6 metres – the end of the hole.
Cores from three other completed holes are currently being assayed at the ALS laboratory in Brisbane, with results expected progressively in the short term.
Close-up of banded pyrite–chalcopyrite sulphide mineralisation found at Gibson's prospect.
Sunnyside next
Results for the five holes released to date represent approximately 1,800 metres drilled of the planned 3,700-metre program at Gibson’s. Next, the company will move to the Sunnyside prospect for a further 1,700 metres of drilling.
These results continue to demonstrate the potential of the Halls Peak system, particularly at depth, with additional targets continuously being assessed.
Critical Resources managing director Alex Biggs said: “These assays provide further confirmation of mineralisation at Halls Peak.
“We are particularly excited to see the increasing depth of mineralisation, which is encouraging evidence of a growing system.
“Our exploration program has been very successful to date and we look forward to updating the market with further results soon”.
About the Halls Peak Project
The 100% owned Halls Peak Project is located in New South Wales, 45 kilometres south-east of Armidale in the New England Fold Belt, an area well known for its mineral endowment and production.
Massive sulphide deposits were discovered at Halls Peak in 1896, when near-surface mining extracted high-grade zinc, lead, copper and silver.
More recent near surface exploration has been conducted by Precious Metal Resources Limited, Sovereign Gold Company Limited (now Critical Resources Limited) and Force Commodities Limited (now Critical Resources Limited) yielding high-grade intercepts at the Gibson’s prospect.
Some near-surface historic mining has also been conducted around the Sunnyside prospect.