Join our daily newsletter At The Bell to receive exclusive market insights
- Mining company Astro Resources (ARO) has reported the mapping results from its Needles gold project in Nevada, USA
- During its mapping programme, the company conducted geological mapping of the property, and collected rock chip samples
- The results indicated significant gold and silver assays, with a high-grade sample in the main target zone’s Tomahawk area
- The company will now be looking to progress its exploration program on the property in the near future
- Despite “encouraging” results, Astro Resources closed 20 per cent in the red, to trade for 0.4 cents per share
Mining company, Astro Resources (ARO) has reported the mapping results from its Needles gold project in Nevada, USA.
The company completed its field mapping programme at the Needles property on September 25, 2020.
During the programme, a US geologist spent over a week conducting geological mapping of the area, locating historic mine and prospecting sites, and collecting rock chip samples from outcrops.
It took some time to analyse the samples taken during the mapping process, but the results are now available.
Results of the 97 rock chip samples have indicated significant gold and silver assays of up to 5.5 grams per tonne gold, and 406 grams per tonne silver. These results were returned from both dump and outcrop samples within the project.
The highest-grade sample was in the western segment of the Needles property, called the Tomahawk area. This is an encouraging discovery, as it sits within the project’s main target zone.
Astro Resources’ Chairman, Jacob Khouri, commented positively about the results from the Needles property, which the company believes have confirmed the project’s viability.
“The Board of Astro are highly encouraged by the geological mapping results and promising gold and silver assays,” he said.
“In particular, the results from the Tomahawk area point to it possibly being a strong Round Mountain-type target, and we look forward to progressing our exploration program in the area,” he added.
Astro Resources will now be looking to carry out further surveys on the project, in preparation for future drilling programmes.
Despite the “encouraging” results, Astro Resources closed 20 per cent in the red, to trade for 0.4 cents per share.
