Blackthorn Resources of Australia has intersected a zone of high grade gold mineralisation at one of its drill holes Mumbwa, Zambia.
The giant mining firm says the gold is at significantly higher grades than previously experienced.
The hole was completed as part of the Phase 4 exploration program currently under-way
The hole was drilled to test the western flank of the Mushingashi magnetic and gravity anomaly and was sited near the previously drilled Phase 3B hole, ZMMUM-008.
Scott Lowe, managing director, said “we have seen evidence of lower grade Gold mineralisation at Mumbwa in previous drilling results.
“However, this hole has shown gold grades that are significantly higher that previously experienced. While the gold has been intersected at a deep level, this is nevertheless a very interesting development.”
Phase 3B drill hole ZMMUM-008 was completed in 2009 and intersected massive hematite and magnetite breccia with associated pyrite, chalcopyrite and bornite with secondary chalcocite. Geological interpretation of the mineral assemblages indicated that the core of an IOCG system could be located near-by.
The Mumbwa project area is being explored with JV partner BHP Billiton (ASX: BHP)(40%) which is currently funding and managing the Phase 4 exploration activities for Iron Oxide Copper-Gold (IOCG) style of mineralisation.