- DevEx Resources (DEV) has received the first results from drilling at two of its New South Wales metals projects
- First-pass reconnaissance drilling at the Basin Creek Gold Project is complete and assays have been returned
- A 3.5-kilometre zone of gold anomalism will be probed further after returning promising assays grading up to 6.2 grams per tonne
- Drilling is also ongoing at the Junee Project targeting copper-gold porphyry systems, with results expected by mid-December
- The company will also start drilling at its recently-acquired Wilga Downs gold and base metals project
- DevEx Resources is trading 6.52 per cent higher for 24.5 cents
DevEx Resources (DEV) has received the first results from drilling at two of its New South Wales metals projects.
The Basin Creek
First-pass reconnaissance drilling at the Basin Creek Gold Project is complete and assays have been returned.
The diamond and reverse circulation (RC) drilling program targeted a 3.5-kilometre zone to test for the primary controls to the gold mineralisation detected in soil geochemistry.
The 14-hole, broad-spaced program indicates the presence of an extensive zone of alteration within the central and southern areas of the Main Ridge prospect.
Results peaked as high as one metre at 6.2 grams per tonne (g/t) gold from 12 metres and 4 metres at 2.1g/t from 174 metres.
The second result is of particular interest as it lies at the western margin of the alteration system, which underlies the peak soil anomaly in the central part of the Main Ridge prospect and may represent one of the controlling structures to gold mineralisation.
Another hole 400 metres to the south encountered the alteration zone, but not the western margin.
The western margin — and the potential gold bearing structure it represents —remains open and untested by drilling to the south.
DevEx is planning extensions to the drilling program to further probe the western margin and peak gold-in-soil anomalies.
Drilling is ongoing at the Junee Project, targeting copper-gold porphyry systems.
Two prospects are being targeted to test magnetic anomalies.
At Nangus Road, preliminary geological observations indicate the presence of an altered monzonite zone starting 100 metres below the surface and continuing to the end of hole at 415 metres.
DevEx now has indications that the 2-kilometre-long magnetic anomaly at Nangus Road is associated with porphyry copper-gold style alteration within an intrusive monzonite.
Detailed petrology and geochemical sampling are underway to map the potential mineralised zone associated with the Nangus Road monzonite to generate more drilling targets.
In the meantime, the diamond rig has been relocated to the Riversdale North prospect where it is targeting an induced polarisation chargeability anomaly lying beneath an area where previous mapping and rock chip sampling returned scattered evidence of oxidised copper mineralisation.
Follow-up drilling is being planned at Basin Creek to further probe the potential structural controls to gold mineralisation intersected in the reconnaissance program.
Drilling will continue at Junee, with assay results expected by mid-December.
DevEx will also start drilling a coincident magnetic-gravity anomaly at the recently-acquired Wilga Downs Project, looking for gold, copper, lead and zinc.
DevEx Resources is trading 6.52 per cent higher for 24.5 cents at 1:01pm AEDT.