Stelar Metals Ltd (ASX:SLB) has completed its inaugural diamond hole (EVE002) to test a large gravity anomaly at the Evelyn Dam Iron Oxide Copper Gold (IOCG) Project in South Australia.
Drill hole EVE002 was collared on 12 July 2022 and was terminated at 1,578.9 metres depth on 7th August 2022.
Schematic 3D view of EVE002 trace (looking NW) showing geology relative to the target gravity anomaly.
The hole has successfully tested the target gravity anomaly as planned and encountered ‘interesting geology’ including volcanic breccias with variable haematite-silica, sericite-chlorite and carbonate-fluorite alteration assemblages through the target zone typical of IOCG alteration.
Core from the hole is in transit to Euro Exploration Services in Adelaide, SA for detailed logging and sampling for laboratory analysis. Results are anticipated in late Q3 2022.
“The geology is very interesting”
Stelar chief executive officer Colin Skidmore said: “EVE002 has been successfully completed to test the gravity anomaly target zone modelled by our geophysical consultants.
“The geology is very interesting through the target zone with bi-modal volcanic breccias with classic IOCG-style alteration assemblages.
“We look forward to getting the core cut and sent to Intertek for multi-element analysis and to detailed multispectral analysis completed to refine the alteration assemblages.”
Examples of EVE002 core: brecciated rhyolite at 1,390m (left) and 1,503m (right).
Stelar contracted Titeline Drilling Pty Ltd to drill EVE002.
PQ core was drilled from surface to 121.9m depth and rotary mud drilling was used to 329.8m depth.
Subsequently, Titeline pushed down HQ3 core drilling to 792.3m. NQ2 core was continued to the termination depth at 1,578.9 metres.
The recovery was >99% and the hole was completed on budget.