Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • DevEx Resources (DEV) has defined several extensive gold anomalies from a recent soil geochemical survey at its Basin Creek Project in New South Wales
  • The new gold anomalies were identified within 4 kilometre-long gold system at the Main Ridge prospect
  • They are associated with several areas where DevEx identified rock chip samples grading up to eight grammes per tonne of gold
  • Additionally, the anomalous rock chip and soil samples are closely associated with silver, molybdenum, bismuth and antimony
  • This demonstrates the potential for a high-level porphyry gold system
  • Next steps include drilling to test the gold anomalies and field activities at the newly-accessed Main Ridge prospect
  • DevEx shares are down 4.55 per cent and trading for 10.5 cents each

DevEx Resources (DEV) has defined several extensive gold anomalies from a recent soil geochemical survey at its Basin Creek Project in New South Wales.

The new gold anomalies were identified within four kilometre-long gold system at the Main Ridge prospect. They are associated with several areas where DevEx previously identified rock chip samples grading up to eight grammes per tonne of gold.

Additionally, the anomalous gold-in-rock chip and soil samples are closely associated with other pathfinder metals such as silver, molybdenum, bismuth and antimony.

This association is encouraging as it provides further evidence for the presence of a potential high-level porphyry gold system.

The anomalies are situated on the northern and southern margins of an elongate felsic porphyry and show similarities to an extensive area of quartz stockwork veins, strong silicification and sericite, and clay and potassium feldspar alteration.

The exploration data has led to the definition of a group of 400-metre to 1000-metre-long priority drill targets within the broader gold system.

Based on these findings, DevEx is planning a drilling program to test the priority gold anomalies within the extensive gold system defined at the Main Ridge prospect.

Furthermore, the company has gained access to the central portion of Main Ridge where historical rock chips returned grades of up to 3.2g/t gold.

DevEx will conduct rock chip sampling and soil geochemistry activities in July. Positive results will then be included in the upcoming drilling program.

DevEx shares are down 4.55 per cent and trading for 10.5 cents each at 12:34 pm AEST.

DEV 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