Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Hill End Gold Confirms Extent Of Mineralisation, Increases Strike At Hargraves Project 0 comments
    Jan 23, 2013 7:11 PM

    Hill End Gold (ASX: HEG) has confirmed the extent of mineralisation and increased the strike length to 400 metres north of the existing 221,000 ounce resource at its Hargraves Project in New South Wales.

    Results have been received for the first six diamond drill holes of the stage two drilling program at the North Big Nugget Hill Deposit.

    The program, which totalled 1,071.3 metres, is testing the potential for shallow, bulk tonnage-style gold mineralisation.

    A diamond hole drilled in 1988 indicated the potential for this with an intercept of 211 metres at 0.5 grams per tonne (g/t) gold from 25 metres, including 23.5 metres at 1.1 g/t gold.

    Notable results from Hill End's recent drilling include 6 metres at 1.6g/t gold from 39 metres, 1 metre at 13.7g/t gold from 12 metres and 3 metres at 3.2g/t gold from 36 metres.

    The gold zone has been so far traced for 400 metres north of the Big Nugget Hill gold resource and remains open to the north and at depth.

    A further two drill holes have been completed and assays are expected later this month. The results of the drilling will be analysed before any further drilling is planned.

    Higher grade zones

    Recent detailed structural logging and geological modelling of the entire Big Nugget Prospect has confirmed the continuity of the higher gold grade zones at the intersection of folded bedding-parallel quartz veins with steeply west-dipping faults.

    The strike and dip of the feeder faults is slightly discordant with the strike of the folds, which creates extensive mineralised regions containing these higher grade shoots.

    The updated geological model provides an indication of the continuity of the high grade zones along strike and is providing additional drill targets.

    Hill End Project

    The Mares Nest Prospect, part of the Hill End Gold Project in New South Wales, has returned promising rock chip results of 13.9g/t and 43.8g/t gold.

    The mineralisation has been confirmed over a 4 kilometre strike and up to 150 metres wide, with 24 rock chip samples returning an average grade of 3.1g/t.

    Mares Nest, which is located 4 kilometres south of the Reward Gold Mine, is similar to the Hargraves Big Nugget Hill deposit with the better zones of gold mineralisation at Mares Nest occurring along the mineralised feeder structures, particularly where they cross the folds of the Hill End Anticline.

    Preliminary drill targets have been identified, and an infill soil geochemical survey is planned to assist with drill targeting.

    Eurongilly Project

    Meanwhile, an initial review of the Kurrajong Prospect at the Eurongilly Project, also in New South Wales, indicates significant gold-copper mineralisation over a 350 metre strike length based on previous drilling.

    Eurongilly is located near a major northwest-striking fault (Gilmore Suture) that is associated with a number of deposits in a belt extending from Adelong to West Wyalong.

    Highlight intercepts from historical drilling include 6 metres at 0.16g/t gold and 1.6% copper from 54 metres, 66 metres at 0.26g/t gold and 0.43% copper from 18 metres, 22 metres at 0.27g/t gold and 0.05% copper from surface, and 30 metres at 0.55g/t gold and 0.08% copper from 12 metres.

    Kurrajong is the main prospect of interest and has been mapped and drilled by a number of previous explorers including Lachlan Resources (1985-1992), Cyprus Gold/Michelago (1996-1998) and Golden Cross Operations (2001-2005).

    Previous mapping and drilling indicates Kurrajong has a known strike length of 350 metres and is open at depth.

    The mineralisation is similar in style to other nearby deposits in the belt such as Straits Resources' (ASX: SRL) Gidginbung deposit, which hosts a 772,000 gold ounce Resource and has previously mined 540,000 ounces.

    Hill End Gold is fully evaluating the previous exploration results and will outline an appropriate exploration program to test possible extensions to known mineralisation.

    The company also plans to evaluate other prospects at Eurongilly that have resource potential, such as Three Tree Hill which is similar in style to Kurrajong.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.