Cauldron Energy Ltd (ASX:CXU) has intersected another high-grade gold zone in the Annie Laurie Lode at the Blackwood Goldfield Project in the ‘Golden Triangle’ of Victoria.
The company intercepted a gold section (BKD015) of 0.80 metres at 19.2 g/t gold from 20.2 metres, including 0.30 metres at 27.0 g/t gold from 20.2 metres, while following-up on an earlier intersection (BKD014) of 0.60 metres at 20.1 g/t gold.
CXU says the two holes demonstrate “excellent” correlation, confirming a westerly-dipping, southerly-plunging gold system, likely to have developed from multiple phases of structural deformation and the consequent injection of gold-rich fluids into those zones.
Cauldron is continuing to target the Annie Laurie reef from underground drilling access in the Tyrconnel Adit.
Results justify exploration strategy
“We are thrilled to see that recent results are starting to verify and validate previously sampled high grades of gold at Blackwood,” Cauldron Energy executive director Simon Youds said.
“Drilling from our current underground platform, along with having finally overcome the operational challenges we faced, has really allowed us to further progress our understanding of the inherent gold mineralisation system.
“The continuity of the high-grade shoot between BKD014 and BKD015 is beginning to justify our current exploration strategy which will help further build the regional-scale exploration model for testing the Blackwood Goldfield.”
The drilling campaign at the Eastern Reefs – the area host to the Annie Laurie Lode – is just the first part of Cauldron’s strategy to expand its mineral resource and explore the full potential of the Blackwood Goldfield.
Historically, Blackwood produced more than 200,000 ounces of gold, underscoring the potential for a multi-million-ounce gold endowment at depth.