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CNQ returns high-grade gold assays from Broken Hill
2 minute read
ASX-listed poly-metals explorer Carbine Tungsten (ASX:CNQ) has released surface sampling results from its Broken Hill gold play, Panama Hat, which confirm consistency of high-grade mineralisation. Grades ranged up to 84.4g/t Au from previous sampling, with the latest sample assays ranging up to 35.1g/t gold.
Sampling and other surface geological investigations undertaken by the company all point to significant potential for shallow, oxide gold mineralisation which until now have remain untested by drilling.
The 100%-owned Panama Hat EL8024 covers an area of “flat to gently undulating” semi-desert grazing country with low salt bush cover, located approximately 25km south-east of Broken Hill, NSW.
CNQ carried out the sampling program in April this year to get a greater understanding of the gold distribution and grades at Panama Hat.
The most recent sampling program indicates that gold mineralisation is closely associated with sulphides (pyrite) mineralisation on the margins of the quartz veins; while also effectively extending the strike length over which high gold values have been obtained at the prospect to date.
Of course this is an early stage play and investors should seek professional financial advice if considering this stock for their portfolio.
Below shows the location of the sampling sites in relation to each other and Broken Hill, NSW:
A summary of the gold analyses at Panama Hat EL8024 are shown below:
Beyond gold, the company also has advanced tungsten projects in Queensland, and recently secured five exploration concessions within northern Chile as part of its strategy to position itself as a low cost lithium brine producer.
It aims to fully delineate commercially viable lithium brine at its Chilean project in the next 12 months.