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LATEST results FROM APHRODITE DRILLING CONFIRM STRONG POTENTIAL FOR RESOURCE EXTENSIONS
Key Points:
- Assay results received for final two holes completed as part of the 13 hole/6,149.4m Resource in-fill and extensional diamond drilling program at the 100%-owned Aphrodite Gold Project near Kalgoorlie in WA.
- Results confirm strong gold mineralisation from the lower zones along the Phi lode to the north and south of the existing Resource area.
- Drilling also intersected significant mineralisation west of the Phi Lode in a high-grade footwall zone referred to as the Omega Lode. The Omega Lode is currently defined over 900m of strike and is not included in the current Resource model.
- Significant assays include:
- 18APD012 1.82m @ 11.06g/t Au from 344.8m (Omega lode), and
- 2.0m @ 2.27g/t Au from 384m (Phi lode), and
- 1.0m @ 3.09g/t Au from 410m (Phi lode), and
- 1.0m @ 3.89g/t Au from 423m (Phi lode), and
- 4.3m @ 1.08g/t Au from 436m (Phi lode)
- 18APD013 2.6m @ 1.35g/t Au from 427.6m (Phi lode), and
- 12m @ 2.99g/t Au from 434m, including 4m @ 5.29g/t from 435.5m (Phi lode), and
- 13.4m @ 2.12g/t Au from 471.9m including 3m @ 5.30g/t from 478m (Phi lode), and
- 0.74m @ 4.83g/t Au from 556m (Omega lode), and
- 0.47m @ 15.41g/t Au from 578.8m (Omega lode)
- A 6,000m diamond drill program is underway to test the newly-defined Exploration Target between 150m and 500m depth within Alpha and Phi lodes, with drilling approximately 50% complete.
Spitfire Materials Limited (ASX: SPI) is pleased to advise that it has received final results from the recently-completed Resource in-fill and extensional diamond drilling program at its flagship 100%-owned 1.26Moz Aphrodite Gold Project, located 65km north of Kalgoorlie in the Eastern Goldfields of WA, with the results indicating strong potential to expand the existing Mineral Resource.
Aphrodite Diamond Drilling Program
Drill holes 18APD012 and 18APD013 were drilled on sections approximately 280m apart and were designed to intersect the lower section of the Phi lode at depths in excess of 300m (below surface), north and south of the Inferred section of the current Resource model.
Drilling was successful in intersecting the Phi lode, with 18APD013 in particular intersecting the higher-grade hanging wall and footwall lodes within Phi, returning intercepts of 4m @ 5.29g/t Au and 3m @ 5.3g/t Au (see figure 2 – Cross Section 6,659,940mN ) respectively (prospective sediment host intersected between 434m and 481m downhole). 18APD012 intersected the Phi lode between 405m and 440m down-hole, with sporadic intercepts of >1g/t Au throughout.
Interestingly, both holes also intersected the Omega lode - a thin (2m wide) sub parallel lode that occurs to the west of the Phi lode. Intercepts from the Omega lode comprised 1.82m @ 11.60g/t Au from 344.8m (18APD012, drilled to the East, 090°) and 0.47m @ 15.41g/t Au from 578.8m (18APD013 drilled west, 270°).
The narrow high-grade Omega footwall lode can now be traced over a strike length of 900m and a vertical extent of 150m and had been identified and modelled, but not included in the current Resource estimate for Aphrodite (see Table 2 for full results), however it is included in the Company’s Exploration Target stated in the ASX announcement dated 16 May 2018.
The latest results provide further momentum for the Company’s objective of upgrading the existing Underground Inferred Resource at Aphrodite (1.4Mt at 7.5g/t for 332,000oz - see ASX release 25 January 2018) as the cornerstone of its development studies.
Figure 1: Cross Section 6,659,940mN
Spitfire’s Managing Director, Mr John Young, said: “These are very pleasing results, which indicate the presence of high-grade gold mineralisation to the north and south of the existing Inferred Resource area within the Phi lode, whilst also highlighting the potential of the high-grade Omega lode.
“This provides strong support for our objective of upgrading the existing Resource base at Aphrodite, with the aim of establishing the project as the cornerstone of a long-term gold operation for Spitfire in the Kalgoorlie region.
“Results from the recently completed infill and extensional drilling have served to validate our exploration model, and we now have a major 6,000 metre diamond drilling program underway to aggressively expand our Resource base.”
These assay results are the final results from the HQ diamond drilling program completed in the first half of 2018, which comprised a total of 13 holes for 4959.6m of core and 1189.8m of RC/Mud Rotary (see figure 2 – Drill Hole Location Plan)
A second diamond drill program is currently well advanced, with six holes completed to date for 2579.2m of core and 480.1m of RC/Mud Rotary.
Figure 2: Drill Hole Location Plan
APHRODITE GOLD PROJECT – BACKGROUND
The Aphrodite Gold Project is located 65km north of Kalgoorlie in the Eastern Goldfields of Western Australia and has a long history of exploration and resource estimation by several parties dating from its discovery in the mid-1990s.
The Aphrodite deposit is covered by five contiguous Mining Leases which are 100%-owned by Aphrodite. All five tenements have been granted for a 21-year life, with the earliest expiry date in 2028.
The Aphrodite mineralisation and current Mineral Resource estimate is situated in the Kalgoorlie Terrane of the Yilgarn Craton, and within the Bardon Tectonic Zone – a high-strain zone in supracrustal rocks extending about 120km north of Kalgoorlie. The Aphrodite prospect comprises a suite of intermediate to felsic porphyries that have intruded a sequence of basalts and dominantly volcanic-derived epiclastic rocks. The main zones of mineralisation defined so far (the near vertically-dipping Alpha and Phi lodes) lie within a regional N-S sericite-pyrite-arsenopyrite alteration system that extends for about 3km along strike.
Figure 3: Aphrodite Gold Project, Geology and Location Plan
Domain | Indicated | Inferred | Indicated + Inferred | ||||||
Tonnes | Gold | Tonnes | Gold | Tonnes | Gold | ||||
(Mt) | (g/t) | (koz) | (Mt) | (g/t) | (koz) | (Mt) | (g/t) | (koz) | |
OP (0.5g/t cut-off) | 6.2 | 2.1 | 411 | 4.0 | 1.5 | 187 | 10.2 | 1.8 | 598 |
UG (3.0g/t cut-off) | 1.6 | 6.6 | 330 | 1.4 | 7.5 | 332 | 2.9 | 7.0 | 663 |
Total Resource | 7.8 | 3.0 | 741 | 5.3 | 3.0 | 520 | 13.1 | 3.0 | 1,261 |
McDonald Speijers Aphrodite Project Resource Estimation
The resource estimate was classified in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves (JORC Code 2012) – Refer ASX Release 25 January 2018.
DISCLAIMERS AND FORWARD-LOOKING STATEMENTS
This announcement contains forward looking statements. Forward looking statements are often, but not always, identified by the use of words such as "seek", “target”, "anticipate", “forecast”, "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions.
The forward-looking statements in this announcement are based on current expectations, estimates, forecasts and projections about Spitfire and the industry in which they operate. They do, however, relate to future matters and are subject to various inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied by any forward-looking statements. The past performance of Spitfire is no guarantee of future performance.
None of Spitfire’s directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any events or results expressed or implied in any forward-looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.
For further information contact:
INVESTORS:
Spitfire Materials Limited
John Young
Telephone: 0419 954 020
Email: admin@spitfirematerials.com.au
MEDIA:
Read Corporate
Nicholas Read
Telephone: 0419 929 046
Email: info@readcorporate.com.au
Competent Person’s Statement
The Company confirms it is not aware of any new information or data that materially affects the information included in the 25 January 2018 Aphrodite Mineral Resource Estimate and that all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed when referring to its resource announcement made on January 25, 2018.
The information in this announcement relating to Exploration Targets, Exploration Results and Mineral Resources is based on information compiled by the Company’s Managing Director, Mr John Young, a competent person, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Young has sufficient experience relevant to the style of mineralisation and to the type of activity described to qualify as a competent person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Young has disclosed to the Company that he is a shareholder in the Company. Mr Young consents to the inclusion in this announcement of the matters based on his information in the form and content in which it appears.
Appendix 1
Table 1 – Drill Hole Location Table
Hole ID | Collar North (AMG84_51) | Collar East (AMG84_51) | Collar RL | Dip | Azi | Pre-collar Depth | Max Depth |
18APD001 | 6659760 | 329475 | 390 | -60 | 270 | 91 | 421 |
18APD002 | 6659840 | 329480 | 390 | -60 | 270 | 89 | 462.7 |
18APD003 | 6659920 | 329465 | 390 | -60 | 270 | 83.6 | 471.8 |
18APD004 | 6659960 | 329540 | 390 | -60 | 270 | 80 | 612.8 |
18APD005 | 6660000 | 329335 | 390 | -60 | 270 | 96 | 306.1 |
18APD006 | 6660000 | 329435 | 390 | -60 | 270 | 96 | 451.1 |
18APD007 | 6660000 | 329535 | 390 | -60 | 270 | 84 | 631.7 |
18APD008 | 6660060 | 329185 | 390 | -60 | 270 | 120.7 | 504.9 |
18APD009 | 6659720 | 329475 | 390 | -60 | 270 | 94 | 383 |
18APD010 | 6659680 | 329450 | 390 | -60 | 270 | 113.5 | 290.8 |
18APD011 | 6659560 | 328930 | 390 | -65 | 90 | 71 | 435.8 |
18APD012 | 6659600 | 328855 | 390 | -65 | 90 | 87 | 579.9 |
18APD013 | 6659880 | 329280 | 390 | -65 | 270 | 84 | 597.8 |
Table 2 - Significant Intersections (> 0.5g/t Au) Drilling
Hole_ID | From(m) | To(m) | Length(m) | Intersection >0.5 g/t Au (all uncut) |
18APD012 | 98.92 | 100 | 1.08 | 2.00 |
18APD012 | 344.78 | 346.6 | 1.82 | 11.06 |
18APD012 | 377 | 379 | 2 | 1.06 |
18APD012 | 384 | 386 | 2 | 2.27 |
18APD012 | 405.13 | 407 | 1.87 | 1.43 |
18APD012 | 410 | 411 | 1 | 3.09 |
18APD012 | 414 | 415 | 1 | 2.97 |
18APD012 | 423 | 424 | 1 | 3.89 |
18APD012 | 436 | 440.3 | 4.3 | 1.08 |
18APD012 | 523.4 | 524.7 | 1.3 | 2.43 |
18APD013 | 393.85 | 394.71 | 0.86 | 2.10 |
18APD013 | 409 | 409.8 | 0.8 | 3.71 |
18APD013 | 414.1 | 416 | 1.9 | 0.90 |
18APD013 | 427.62 | 430.2 | 2.58 | 1.35 |
18APD013 | 434 | 446 | 12 | 2.99 |
incl | 435.5 | 439.65 | 4.15 | 5.29 |
18APD013 | 471.86 | 485 | 13.14 | 2.12 |
incl | 478 | 481 | 3 | 5.30 |
18APD013 | 489 | 490 | 1 | 1.63 |
18APD013 | 499 | 500.5 | 1.5 | 0.88 |
18APD013 | 508.15 | 509 | 0.85 | 1.98 |
18APD013 | 556 | 556.74 | 0.74 | 4.83 |
18APD013 | 578.83 | 579.3 | 0.47 | 15.41 |
JORC Code, 2012 Edition – Table 1 report - Aphrodite
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria | JORC Code explanation | Commentary |
Sampling techniques |
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Drilling techniques |
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Drill sample recovery |
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Logging |
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Sub-sampling techniques and sample preparation |
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Quality of assay data and laboratory tests |
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Verification of sampling and assaying |
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Location of data points |
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Data spacing and distribution |
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Orientation of data in relation to geological structure |
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Sample security |
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Audits or reviews |
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Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria | JORC Code explanation | Commentary |
Mineral tenement and land tenure status |
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Exploration done by other parties |
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Geology |
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Drill hole Information |
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Data aggregation methods |
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Relationship between mineralisation widths and intercept lengths |
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Diagrams |
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Balanced reporting |
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Other substantive exploration data |
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Further work |
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