- NTM Gold (NTM) has completed its final reverse circulation program at the Hub and Gully areas, within the Redcliffe Gold Project in Leonora, WA
- The program, involving 70 reverse circulation holes, was designed to improve mineralisation definition ahead of a resource update and development studies
- The company says the spaced drilling confirmed the continuity and dimensions with results peaking at three metres at 21.2 grams of gold per tonne from 45 metres
- A diamond program is underway, aiming to complete the pattern down to 150 metres below surface
- Additionally, 12 holes were drilled at the Gully and Bindy prospect with better results including four metres at 4.2 grams of gold per tonne from 90 metres
- These results follow on from an earlier announcement of the proposed NTM and Dacian Gold (DCN) merger
- NTM Gold is trading steady at 14 cents and Dacian is trading in the grey at 39 cents
NTM Gold (NTM) has provided a drilling update for the Hub and Gully areas, within the Redcliffe Gold Project in Leonora, WA.
NTM Gold is a Perth-based explorer focussed on the Leonora region in Western Australia’s Eastern Goldfields. The company owns 100 per cent of the Redcliffe Gold Project.
The company’s final reverse circulation program has been completed, concentrating on shallow infill drilling at Hub.
The program was designed to improve the mineralisation definition ahead of a resource update and development studies.
The drilling returned excellent grades and widths, confirming the continuity and dimensions of the target, as well as highlighting the quality of the deposit, particularly in the oxide and transition studies.
Best results include nine metres at 20.1 g/t gold from 39 metres, including five metres at 34.3 g/t gold.
The program at Hub involved 70 reverse circulation holes, for 6558 metres, drilled on a 25-metre by 25-metre grid. The hole depths ranged in size from 22 metres to 155 metres.
A diamond program is currently underway, aiming to complete the pattern down to 150 metres below surface.
These results follow on from an earlier announcement of the proposed NTM and Dacian Gold (DCN) merger.
Additionally, 12 holes for 2617 metres were drilled at Gully and Bindy, returning encouraging results that require further follow up. These results include four metres at 4.2 g/t gold from 90 metres.
“This reverse circulation program has continued to affirm the quality of Hub, returning outstanding grades and widths and validating the continuity of the mineralisation near surface,” said NTM Gold Managing Director Andrew Muir.
“The current diamond drilling will provide further insights down to 150 metres ahead of development assessments. Whilst the current drilling is targeting near surface mineralisation, the deposit remains open at 500 metres depth and has a strike of at least 1.2 kilometres. The grade and size of Hub make the deposit a key value driver for the merged group, subject to shareholder approval, capitalising on the synergies of the combined asset base”.
NTM Gold is trading steady at 14 cents and Dacian is trading in the grey at 39 cents at 10:10 am AEDT.