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Australian Potash welcomes identification of gold anomalies at Lake Wells JV

The scale of gold anomalism returned from analysis of the drill programs completed to date suggest that a Kundana style of mineralisation is the primary target in the South Yamarna area.

Australian Potash Ltd - Australian Potash welcomes the identification of gold anomalies at Lake Wells in WA
Desktop studies and drill targeting are ongoing through COVID-19 regional travel restrictions

Australian Potash Ltd (ASX:APC) has welcomed the identification of gold anomalies by earn-in partner St Barbara Ltd (ASX:SBM) in regional aircore drilling at the Lake Wells Gold Project joint venture in WA.

Initial broad-spaced aircore (AC) drilling has defined several gold and pathfinder element bedrock anomalies that warrant further follow-up drilling.

The more significant results were returned from the south-eastern tenements, known as the SYAC.

"Fantastic outcome"

Managing director Matt Shackleton said: “We are extremely pleased with the results from the first full year’s exploration work by our joint venture partner, St Barbara.

“The identification of multiple large gold anomalies and corresponding alteration systems is a fantastic outcome from the aircore program."

Pathfinder elements such as arsenic, bismuth and antimony all show highly anomalous concentrations associated with the strongest gold anomalies.

This area also shows the most extensive moderate sericite alteration.

SYAC gold anomalies (more than 50 ppb gold) from aircore drilling.

Planning for further drilling

Shackleton said: “The strong indicators identified are driving planning for infill AC drilling and deeper reverse circulation (RC) drilling to penetrate the fresh rock.

“Other Yamarna Shear Zone examples demonstrate that it is in the fresh rock that the true gold grades these anomalies point to may be seen.

“Comparing the stage of our South Yamarna anomaly camp in relation to the early work reported at Gruyere is extremely encouraging.”

Desktop studies and drill targeting are ongoing through COVID-19 regional travel restrictions.

Shackleton continued: “On returning to the field, the exploration teams will look to test the identified anomalies at depth, which is where the grades proved to be a game-changer for the Gruyere deposit.

“Deeper drilling is necessary to uncover the true potential of the anomalies that the team have uncovered to date.”

Multiple prospects identified

Drilling results returned to date have confirmed and strengthened the earlier work completed by APC, with a large zone of gold anomalism delineated with multiple prospects identified over a +9-kilometre strike length.  

The scale of the gold anomalism and other indicators returned from analysis of the drill programs completed to date suggest that a Kundana style of mineralisation is the primary target in the South Yamarna area.

Yamarna region has been enjoying ongoing exploration success since the discovery of Gruyere in 2013.

Adjacent tenement holder, Gold Road Resources Ltd (ASX:GOR), continues to demonstrate the underexplored nature of the Yamarna Belt and the potential to delineate deposits of commercial scale.

Field-based exploration suspended

With more than 1.1 million ounces of gold delineated along the Yamarna Shear Zone, the EIJV Southern Yamarna Anomaly Camp (SYAC) is proving to extend this well-established mineralised corridor over 70 kilometres to the north northwest.

APC’s JV partner St Barbara Ltd has suspended all field-based exploration as a precautionary measure during the COVID-19 pandemic.

Suspended activities include the planned AC drilling program that was scheduled to commence in the current quarter, which would build on the strong targets generated from previous drilling and targeting campaigns.

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