On Tuesday (September 3), Golden Deeps (ASX:GED) introduced the intersection of “important” sulphide mineralisation in three preliminary diamond drill holes accomplished at its Havilah undertaking in New South Wales.
In a press launch, the corporate highlights a 28 metre zone in gap HVD003 that produced high-grade transportable XRF readings of as much as 18.5 % copper and 34.8 % zinc, averaging 0.5 % copper and 0.7 % zinc.
The information despatched Golden Deeps’ share worth up almost 220 % from its AU$0.028 shut on Monday (September 2), catapulting the corporate as excessive as AU$0.089 on Tuesday (September 3).
“The intersection of sulphide mineralisation in all three preliminary holes at Havilah … signifies we’re on high of a giant porphyry-sulphide system with comparable traits to different main copper-gold discoveries within the Lachlan Fold Belt reminiscent of Cadia-Ridgeway and the latest Boda-Kaiser discovery,” mentioned Jon Dugdale, CEO of Golden Deeps.
In response to the corporate, all three holes drilled at Havilah resulted in notable findings. HVD001 encountered 40 metres of silicified breccia and veining with disseminated sulphides from floor. In the meantime, HVD002 intersected a 130 metre zone of altered mafic volcanics with scattered veinlets and disseminations of pyrite and uncommon chalcopyrite.
HVD001 was testing the Hazelbrook North anomaly, whereas HVD002 was testing an induced polarisation anomaly.
Golden Deeps gained full possession of Havilah in 2020 following its acquisition of Extract Minerals. The undertaking is situated within the Lachlan Fold Belt in New South Wales, along with the corporate’s Tuckers Hill gold undertaking.
Drilling at Havilah has prioritised copper and gold targets since Might. Drilling of a fourth gap on the web site is ongoing, with HVD004 testing the Hazelbrook anomaly, which is 200 metres alongside strike to the northeast of HVD003.
“Laboratory analytical outcomes (ALS Laboratories, Orange, NSW), together with gold assays (gold is just not detectable with pXRF) will probably be reported when out there and compiled,” the corporate explains in its launch.
“We stay up for finishing the rest of our diamond drilling program and receiving the laboratory outcomes from the holes accomplished, which will probably be launched as quickly as they arrive handy and are compiled.”
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Securities Disclosure: I, Gabrielle de la Cruz, maintain no direct funding curiosity in any firm talked about on this article.
