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Essential Metals (ASX:ESS) - Managing Director, Timothy Spencer
Managing Director, Timothy Spencer
Source: Essential Metals
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  • Essential Metals (ESS) intersects multiple new zones of gold mineralisation at the Golden Ridge Project in Western Australia
  • A total of 92 aircore holes were drilled across the Skandia, Maximus and AC75 prospects to gain a better understanding of the geology
  • Best results come from the Skandia Prospect where up to 2.45 grams of gold per tonne (g/t) was intersected
  • Follow up and infill drilling is expected to take place in the December quarter
  • Essential Metals is steady on the market with shares trading at 11 cents at 12:15 pm AEST

Essential Metals (ESS) has intersected multiple new zones of gold mineralisation at the Golden Ridge Project in Western Australia.

The Golden Ridge Project lies 20 kilometres southeast of Kalgoorlie and is highly prospective for gold and nickel.

A total of 92 aircore holes, for 6080 metres, were drilled across the Skandia, Maximus and AC75 prospects to determine the source of the soil anomalism and gain a better understanding of the geology.

Skandia

Drilling at the Skandia Prospect tested a 600 metre strike of gold, arsenic and molybdenum soil anomalism.

While the drilling did not intersect any significant porphyry lithology, it highlighted a thick siltstone sediment unit.

Best results include eight metres at 1.01 grams of gold per tonne (g/t) from 96 metres including three metres at 2.45g/t gold; and 12 metres at 0.50g/t gold from 60 metres.

These results are encouraging and suggest the potential for significant gold mineralisation.

Maximus

Aircore drilling at Maximus tested a 600 metre strike of northwest-southeast trending structures in an area that has returned greater than 20 parts per billion (ppb) gold.

Best results include three metres at 3g/t gold from 30 metres including one metre at 6.07g/t gold; and five metres at 0.75g/t gold from 57 metres.

AC75

Drilling at the AC75 tested a 650 metre long zone of large-scale gold-in-soil anomalism.

Essential Metals intersected basalt and ultramafic lithologies with minor bands of chert and shale.

Results include 12 metres at 0.49g/t gold from 51 metres including three metres at 1.01g/t gold; and six metres at 0.32g/t gold from 33 metres.

Managing Director Tim Spencer states these results are better than expected and they highlight the potential for Golden Ridge.

“This first pass aircore drilling tested for gold mineralisation in undrilled areas and the results were better than expected with anomalous gold intersected at all three prospects,” Mr Spencer said.

“The results support the overall gold exploration model at Golden Ridge where there is potential for large scale Boorara-style mineralisation as well as deposits like the higher grade Golden Ridge Mine nearby.”

Follow up and infill drilling is expected to take place in the December quarter.

Essential Metals was steady on the market with shares trading at 11 cents at 12:15 pm AEST.

ESS by the numbers
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