GTI Resources’ WA gold project moves ahead of schedule

By Jonathan Jackson. Published at Sep 30, 2020, in Mining

GTI Resources (ASX:GTR) has finished its aircore drilling program at the Niagara Gold Project ahead of schedule.

The Niagara Gold Project is located ~6 km southwest of Kookynie in the central goldfields of WA and comprises one granted exploration licence, E40/ 342 and six contiguous prospecting licence applications including existing applications, P40/1506, P40/1515, P40/1516 and P40/1517 plus the recently acquired P40/1513 and P40/1518.

This region is starting to attract exploration attention and dollars, which has given GTR momentum to drill test its own ground here.

Those who have followed activity in the region will know Genesis Minerals Ltd (ASX: GMD) acquired a 248km2 tenement package at Kookynie that includes 15km of strike length and a JORC Indicated and Inferred Resource of 414,000oz. GMD’s Greater Ulysses Project in this region holds 1.28Moz, and the company is currently capped at $68.5M.

Metalicity Ltd (ASX: MCT) is also located in the region, neighbouring GTR. Its highly successful drilling campaign earlier this year, saw MCT gain almost 250% after hitting “spectacular” high grade results from first assays at Kookynie in its joint venture (JV) with Nex Metals Exploration Ltd (ASX: NME).

MCT’s success hints at the potential of GTR’s WA ground, which is only circa 2km north of GTR’s project. MCT has a 50% interest in its Kookynie project, while GTR has 100% ownership.

The news comes just a week after the company received encouraging assay results from the recently completed second auger soil sampling program.

The recent Aircore drill campaign targeted six of the eight significant gold in soil anomalies identified within exploration Licence E40/342.

Drilling of the targeted geochemical anomalies has intersected quartz veining in a number of drill holes at predicted positions.

Niagara Gold Project – Quartz Outcrop In The Project Area.

The intersected veins are occasionally associated with pyrite selvages and as fracture fill and silicification.

The relationship between the geochemical anomalies and the intersection of quartz veins

will be established once assay results have been received.

Drilling is also providing guidance on the lithology and structure within the drilled areas including silicified faults, which complements the structural interpretation.

Lithologies intersected included basalt, granitoids, ultramafics and metasediments.

The geological and structural model will be updated and interpreted in the coming weeks and then incorporated with the multielement geochemistry when received.

Drilling was concluded ahead of schedule with 52 holes completed at an average depth of 45 metres for 2,321 metres total.

Initial gold analysis is expected in mid to the third week of October and multi-element geochemistry soon after.

An RC rig is scheduled to start testing bedrock targets during late October following receipt of results from the current round of Aircore drilling.


Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


SEE THE PORTFOLIO

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.

Publishers Notice

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.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X