Company
ASX:POL
Polymetals Resources Ltd is an Australian mining and exploration company with a project portfolio with significant potential for the discovery and development of both precious and base metal resources. The company's cornerstone asset is the Endeavor Silver-Zinc-Lead Mine, one of the three large mines in Cobar NSW Australia. It is seeking to become a long term, consistent and profitable base and precious metal producer.
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“In addition to identifying prospective gold zones within the Mansala tenement, the survey has provided the company with additional vectors to explore for new targets within the licence,” said project manager William Pountney.
The company has recently conducted a high-level review of an Australian polymetallic production asset, currently on care and maintenance.
"The positive results from our phase three drilling program at the Alahiné Gold Project has once again reinforced the prospectivity of the licence as we plan future drilling programs,” said CEO Alex Hanly.
“The recent aeromagnetic survey has demonstrated why the Alahiné Project is in such a prospective gold zone and has provided the company with a better approach for targeting new prospects along strike both to the north and south," project m
The program is planned to confirm the strike continuity of the northeast quadrant and test the extent of high-grade mineralisation open at depth.
Once the survey results are in, Polymetals will look for future drill targets and use the findings to design its next exploration campaigns in 2022.
“The latest results reinforce the prospectivity of the Mansala Gold Project and the potential for significant discovery within the licence,” says CEO.
“We are pleased that the aeromagnetic survey has commenced at our projects and are confident it will both provide new targets and unlock the structural controls at both Alahiné and Mansala," says CEO.
William Pountney’s appointment follows that of Nana Asante as lead exploration geologist earlier this year and enhances the company’s in-country capability and local knowledge.
“Three new mineralised trends identified during the recent drilling provide Polymetals with several follow up targets in addition to the well-defined north-north-east trend confirmed during the Phase 2 Air Core Drilling Program,” says lead
“Mansala has been subject to widespread artisanal activity, suggesting the area is highly prospective for gold,” CEO Alex Hanly said.
“Polymetals has continued the great momentum of 2021 with a suite of geological work scheduled for the coming year across both our Alahiné and Mansala Gold Projects as we lay the foundations for a significant gold discovery,” says CEO Alex
Nana Yaw Asante will plan and lead the company's exploration programs within the Siguiri Basin as Polymetals progresses its gold discovery strategy.
The 10,000 metres auger program is designed to extend the high-grade near-surface potential defined in Phase 2, in addition to testing undrilled targets that display +100ppb gold in soils within the Alahiné licence.
“We are very encouraged by what we have seen at Alahiné ... The high-grade near-surface intercepts of 96 g/t, 51 g/t and 34 g/t provide potential for possible near-term gold production within the Alahiné licence," says CEO.
“We are encouraged by what we have seen at Alahiné, and the assay results will enable us to plan the next steps in our exploration strategy within the Siguiri Basin," says David Sproule.
“The additional results received provide further evidence that the laterite mineralisation mined by the artisanals is a very wide re-mobilisation halo. Although we are in the early stages of exploration, this halo demonstrates the potential
The ASX-lister is developing a portfolio of gold projects in Guinea and has opted to halt trade until the political situation in the West African nation becomes more clear.
“We are very encouraged by the preliminary results received from the Alahiné phase-2 program, particularly the high-grade results from relatively shallow holes and eagerly await further assay results,” Polymetals supervising geologist Clive
Alahiné Project hosts extensive historical and current artisanal gold production which reinforces the exploration potential of the area.
