Parabellum Resources finds gold in maiden NSW drill program
Proactive Investors
Published Jun 02, 2023 10:10
Updated Jun 02, 2023 10:30
Parabellum Resources finds gold in maiden NSW drill program
Parabellum Resources Ltd (ASX:PBL) has demonstrated the potential of its New South Wales projects, intersecting anomalous gold mineralisation from a maiden drill program at two of the company’s tenements.
At the Lunns Dam Project, diamond drilling at L1, an electromagnetic target about 600 metres long, and two auger soil targets were completed in March and April.
A single 303-metre diamond drillhole at L1 intersected carbonaceous pyritic siltstone/shale between 237 metres and 262 metres downhole, which was submitted for laboratory analysis.
The results confirmed an interval of anomalous gold at a depth of about 250 metres with elevated arsenic, antimony, molybdenum, iron and sulphur. Copper was not sighted.
PBL is currently determining if any follow-ups are required.
Pyritic carbonaceous shale from one of the Lunns Dam drillhole.
More success
Meanwhile, an auger soil sampling program defined two copper plus pathfinder targets, which were further investigated using reverse circulation (RC) percussion drill testing.
Four holes were drilled for 480 metres and returned minor sulphide in drill chips from the northern copper-antimony-arsenic target.
Minor anomalous gold was intersected in two drillholes associated with significant arsenic but no other anomalous base or precious metal mineralisation was recorded.
PBL has determined that no further work is required here at this time.
A bit of gold
At the Recovery Project, RC percussion drill testing of a 900 metre-long and 50-200 metres-wide gold and pathfinder anomaly at the Swansons Gold prospect was completed with six holes drilled for a total of 720 metres.
Zones of intense silica-white mica-pyrite alteration with associated iron oxides about 10-15 metres wide were noted in a number of the drillholes.
One thin 2-metre zone of significant gold mineralisation was intersected in one of the drillholes, while minor anomalous gold mineralisation was recorded from three others.
PBL has decided not to pursue any further work here.
Intense alteration seen in rock chips from one of the Recovery Project drillholes.
NSW projects
PBL holds 100% interest in four projects in a highly prospective region of Central West New South Wales.
The Redlands/Whitbarrow, Recovery and Lunns Dam projects in the Tottenham-Girilambone district comprise four granted exploration licences covering about 690 square kilometres.
The Obley Project in the Yeoval district comprises one granted exploration licence covering about 180 square kilometres.
PBL project location.
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