Total
0
Shares
Diamond core from 35 m to 45.5m of Hole MQD0001in the May Queen gold project. Source: Australasian Gold.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Australasian Gold (A8G) completes its first diamond drilling program at the May Queen gold project in Queensland
  • Drilling began in mid-June with work designed to follow up on historical drilling which identified high-grade gold intervals
  • While results are yet to be received, hole five intersected a 40-metre alteration zone with sulphides visible from 150 metres downhole
  • Samples are currently being assayed and results are expected in four to six weeks with a more detailed announcement to be made then
  • Australasian Gold is steady on the market with shares trading at 14.5 cents at 2:13 pm AEST

Australasian Gold (A8G) has completed its first diamond drilling program at the May Queen gold project in Queensland.

Drilling began in mid-June with work designed to follow up on historical drilling which identified high-grade gold intervals.

Work also aimed to test the existing mineralisation at depth and along strike as well as looking for potential parallel structures.

Over 1000 metres of diamond drilling was undertaken across five holes with work completed safely and on schedule.

While results are yet to be received, hole MQD0005 intersected a 40-metre alteration zone with sulphides visible from 150 metres downhole.

Samples are currently being assayed and results are expected in four to six weeks with a more detailed announcement to be made then.

Managing Director Dr Qingtao Zeng is pleased with findings so far and is excited to receive more thorough ones.

“We are excited with the alteration and potential mineralisation revealed by our diamond drilling program, pending the assay results,” Dr Zeng commented.

“Visual observation indicates the existence of copper sulphides and we are eager to receive the gold and other element assays soon.

“We are seeing more and more evidence to indicate it is likely that there is a porphyry system underlying the May Queen project.”

Australasian Gold was steady on the market with shares trading at 14.5 cents at 2:13 pm AEST.

A8G by the numbers
More From The Market Herald

" AKORA Resources (ASX:AKO) gets pleasing assays from Madagascar project

AKORA Resources (AKO) has received assays from resource drilling at the Bekisopa project in Madagascar.
Carawine Resources (ASX:CWX) - Non Executive Chairman, Will Burbury

" Carawine Resources (ASX:CWX) begins diamond drilling at Red Bull

Carawine Resources (CWX) has begun diamond drilling on two highly significant bedrock conductors at the Red Bull tenement in Western Australia.

" Woomera Mining (ASX:WML) begins Phase 2 drilling at Mt Venn

Precious and base metals explorer Woomera Mining (WML) has launched a Phase 2 reverse circulation drilling program at its Mt Venn Project in
Challenger Exploration (ASX:CEL) - Exploration Manager, Stuart Munroe

" Challenger Exploration (ASX:CEL) extends mineralisation at Sentazon

Challenger Exploration (CEL) has released results from the next eight holes of its drilling program at the Sentazon prospect within the Hualilan gold