CAV confirms large gold-copper blanket at Little Butte
Carnavale Resources (ASX:CAV) recently completed a reverse circulation drilling program comprised of 18 holes for 1734 metres on the Railway Prospect at the Little Butte Project in Arizona, USA.
The aim was to test near surface weathered portions to confirm continuity of higher grade gold zones in structurally controlled breccia’s along the south-eastern margin.
Drilling also investigated shallow broad secondary supergene gold and copper mineralisation in the central and northern areas.
The campaign indeed confirmed the continuity of previously defined shallow and broad secondary supergene gold and copper zones.
Intercepts from this new drilling included 7.6 metres at 2.57g/t gold and 0.14% copper from 10.7 metres; 70.1 metres at 0.22g/t gold and 0.18% copper from 12.2 metres, 45.7 metres at 0.73g/t gold and 0.24% copper from 10.7 metres, and 62.5 metres at 0.43g/t gold and 0.12% copper from 25.9 metres.
Historical drilling intercepts from the same area include 29 metres at 1.25g/t gold and 0.03% copper from 19.8 metres; 29 metres at 5.39g/t gold and 0.16% copper from 3 metres; 44.2 metres at 2.25g/t gold and 0.36% copper from surface; and 26.2 metres at 2.4g/t gold and 0.18% copper from 6.1 metres.
The new drilling also confirms continuity of the broad flat lying and partially overlapping gold and copper supergene mineralisation.
The strike length is over 80 metres in length, up to 300 metres wide 50 metres in the central portions of the Railway Prospect.
Drilling to the north and south demonstrated potential for this supergene mineralisation to extend over 400 metres strike length, and remains open to the west and north.
The supergene copper mineralisation demonstrates consistent partially overlapping zones in the range of 0.1-0.4% copper values in individual samples.
Selected holes were targeted on the higher grade gold zones hosted in hematite rich breccia along the south eastern margin of the prospect.
Interpretation of results suggests this mineralisation may have a possible stacked northwest trend or be unstructured in nature, rather than a continuous north-south orientation as expected.
Deeper targets in fresh bedrock
Based on all drilling results to date, CAV considers the large supergene plume of gold and copper mineralization at the Railway Prospect represents an anomaly above or nearby to a deeper, fresh bedrock and sulphide rich target.
This deeply weathered setting is similar to the Degrussa copper-gold deposit discovered by Sandfire Resources (ASX:SFR) in Australia.
Initial exploration work at Degrussa included soil sampling and shallow drilling into the weathered near-surface rocks, where a large plume of anomalous gold-copper provided encouraging but sub-economic mineralisation.
The breakthrough discovery holes occurred when deeper holes were extended and intersected the fresh sulphide- rich orebody hosting high grade copper and gold mineralisation.
Electro-magnetic surveys were subsequently used to define further targets at this discovery.
Additional support of a deeper fresh bedrock target is provided by the earlier induced polarisation survey that highlighted at least two chargeability anomalies associated with a structural feature, and coincident with the large supergene plume.
CAV is currently reassessing this data with the view to potentially carrying out an additional detailed electro-magnetic survey for greater resolution of sulphide rich conductors at depth.
Any conductors located would then be tested with diamond drilling.
CAV Managing Director Mr Andy Beckwith commented on the results: “We have been able to confirm the continuity of the broad secondary supergene gold and copper zones. These results also have highlighted to us that the two previously identified IP anomalies at depth may hold the key to the economics of this project and we will continue to investigate the option of further testing.”
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.