- Askari Metals (AS2) Confirms Southern Mineralization Expansion at Christmas Present Prospect at Burracoppin Gold Project in Washington
- The company received assay results from the first nine wells drilled as part of the project, which tested the expansion of mineralization on three northern and two southern prospects.
- Highlights from Christmas Gift: 10 meters grading 1.38 g/t gold from 34 metres, including a higher grade of 8.74 g/t gold over one meter
- Most of the analyzes have yet to be completed, and once received, Askari will combine the data with the current geological model to support further project development
- Shares in Askari fell 3.75 percent to 38.5 cents at 11:22 a.m. EST
Askari Metals (AS2) has reported results for the first nine holes drilled as part of the third phase of the reverse circulation (RC) drilling program completed at the Burracoppin Gold project.
The project is located in the Wheatbelt region of Western Australia and is located along the junction of Ramelius Resources’ (RMS) Edna May gold mine.
A 40-hole drill program tested extended mineralization at the Burgess Find, Christmas Gift and Benbur in the north and the Lone Tree and Easter Gift prospects in the south.
It also tested previously unexplored targets revealed by soil geochemistry that highlighted the potential for gold mineralization north of the Burracoppin project.
Today’s results confirm the southward extension of the mineralization from the Christmas Present prospect to the main mineralized zone at Benbury.
Assay near Christmas Present includes 10 meters of 1.38 grams per tonne (g/t) gold from 34 metres, including three meters of 3.62 g/t gold from 41 meters and one meter of 8.74 g/t gold from 42 meters.
Askari noted that this round of drilling the program did not include testing below and adjacent to existing areas of mineralization as this was planned for subsequent drilling phases.
VP of Exploration and Geology Johan Lambrechts said initial results were encouraging and combining the confirmed mineralization zones with infill drilling would add “significant scale” to the project’s future potential.
The Company is still awaiting the remaining results before determining their impact on the project’s current mineralization pattern and assessing their impact on the project’s future exploration plans.
After receiving all the results, the company will combine the data with the current geological model, which is fundamental in the future exploration of the project.
Shares in Askari fell 3.75 percent to 38.5 cents at 11:22 a.m. ET.