Total
0
Shares
Xantippe Resources (ASX:XTC) provides updates for Southern Cross Gold Project
  • Xantippe Resources (XTC) has received preliminary results from reverse circulation (RC) drilling at its Southern Cross gold project
  • The results are derived from four-metre composite samples using the photon assay technique to identify mineralised zones, but can't be considered as reportable results
  • Each of the 24 holes drilled intersected zones of quartz and sulphide mineralisation which returned low-level gold anomalies
  • Six holes remain to be drilled at the Cornishman North prospect, which is interpreted to be an extension of the structure hosting the Axehandle gold mine
  • Xantippe Resources has fallen 25 per cent to trade for 0.3 cents per share

Xantippe Resources (XTC) has received preliminary results from reverse circulation (RC) drilling at its Southern Cross gold project.

The results are derived from four-metre composite samples using the photon assay technique to identify mineralised zones. Based on the preliminary results, one-metre split samples have been collected and stored on-site to be tested by conventional fire assay.

Preliminary results

The preliminary photon assays on four-metre samples from the Xantippe prospect returned results up to 1.97 grams per tonne (g/t) gold.

The Treasury North prospect returned one sample grading 6.31g/t.

The preliminary results are not indicative of the actual grades of mineralisation present, but are being used to choose which one-metre samples will be sent for fire assay.

Photon assays have been conducted on samples all of the 24 holes drilled to date, though significant intersections have only ben recorded for four holes.

The remaining holes did intersect zones of sulphide and quartz mineralisation which returned low-level gold anomalies. Those samples will be further investigated by fire assay.

Xantippe Managing Director Richard Henning says there are promising signs at Southern Cross.

"Preliminary geological logs indicate intersections of sulphide and quartz mineralisation at all prospects, and we are awaiting more definitive one-metre interval fire assay results," Richard said.

"Further drilling is also planned to enable a better understanding of the mineralised zones. Significantly, the highest priority geophysical targets remain untested," he continued.

Next steps

Xantippe has six holes remaining to be drilled at the Cornishman North prospect, which is interpreted to be an extension of the structure hosting the Axehandle gold mine.

The drilling will commence once program of works approval is granted.

Looking ahead, the company says it remains well-funded to continue its drilling program.

Xantippe Resources has fallen 25 per cent to trade for 0.3 cents per share at 3:05 pm AEST.


Subscribe


XTC by the numbers
More From The Market Herald
Encounter Resources (ASX:ENR) - Managing Director, Will Robinson - The Market Herald

" Encounter Resources (ASX:ENR) raises $6.3M for exploration

Encounter Resources (ENR) has received firm commitments to raise roughly $6.3 million via a placement.
Trek Metals (ASX:TKM) - Executive Director, John Young (left) and Non Executive Director, Neil Biddle (right) - The Market Herald

" Trek Metals (ASX:TKM) to raise nearly $3M for Pilbara projects

Trek Metals (TKM) has launched a fully-underwritten $2.9 million rights offer to accelerate exploration at its recently acquired Pilbara gold projects.
Frontier Resources (ASX:FNT) completes sampling and mapping at Kimono

" Frontier Resources (ASX:FNT) completes sampling and mapping at Kimono

Frontier Resources (FNT) has completed a sampling and mapping program at the Kimono gold prospect in Papua New Guinea.
Shree Minerals (ASX:SHH) - Executive Director, Sanjay Loyalka (centre) - The Market Herald

" Shree Minerals (ASX:SHH) finds two new targets at NT gold-copper project

Initial fieldwork at Shree Minerals’ (SHH) Bruce copper-gold project in the Northern Territory has uncovered two new mineralised zones.