Critical Resources Ltd (ASX:CRR) has intersected massive, semi-massive and disseminated sulphides to a depth of 141.1 metres in a diamond drilling program at the Gibsons prospect, part of the broader Halls Peak Project in northern New South Wales.
Notably, massive and semi-massive sulphides have been confirmed in Hole-9 with 3.6 metres at 15.06% zinc, 8.38% lead, 0.69% copper, 37.51 g/t silver and 0.09 g/t gold from 56.2 metres including 1.6 metres at 22.51% zinc, 13.21% lead, 1.04% copper, 56.28 g/t silver and 0.10 g/t gold.
This hole also returned disseminated base metal sulphide intervals of 3.5 metres at 3.11% zinc, 0.87% lead, 0.12% copper, 6.68 g/t silver and 0.03 g/t gold from 131.05 metres including 0.7 metres at 6.61% zinc, 1.82% lead, 0.20% copper, 13.50g/t silver and 0.03 g/t gold.
The presence of disseminated base metal sulphides in the interval from 132.6 to 141.1 metres extends the downhole depth of the known base metal exhalative system and indicates potential for the discovery of further massive sulphide lodes both laterally and at depth.
Consequently, these results indicate a depth of mineralisation previously undiscovered at Halls Peak, delivering further depth potential within the system.
“Significant scale potential”
Commenting on the results, CRR managing director Alex Biggs said: “Hole 09 assays further demonstrate the potential of the Halls Peak system.
“Results at depth are also very encouraging, providing information in previously unexplored areas of the system that begin to add significant scale potential to the Halls Peak project.
“As the drill program develops, we are beginning to develop a clearer thesis on what Halls Peak represents and see the asset as potentially transformational to the company and its shareholders.”
Results pending
The company’s recent downhole EM survey outlined a geophysical target at 55 metres downhole that extend up to 100 metres away from hole 09.
Assay results are pending for chalcopyrite mineralisation in hole 011a, as well as results from holes 02, 04 and 2A with an expanded drill program underway at Halls Peak.
About the project
Halls Peak project is in northern NSW about 45 kilometres southeast of Armidale in the New England Fold Belt, an area well known for its mineral endowment and production.
The project is considered to have the potential to contain world-class deposits similar to those already being mined in north Australia. The project area comprises multiple historic mines and prospects including Gibsons, Sunnyside, Firefly, Faints, Khans Creek, Keys and Mickey Mouse.
All current exploration activities are focused on exploration licence EL 4474 with primary targets being the Gibsons and Sunnyside prospects