Moonlight drill results build Qld gold system scale
Brought to you by Bulls N’ Bears
Doug Bright
Moonlight Resources has tabled another swag of broad, near-surface gold hits from drilling at its Clermont project in Queensland, with the latest results successfully extending the company’s Leo Grande Central prospect towards its Leo Grande South target area.
The latest batch of assays came from 22 reverse circulation (RC) drill holes for 2683m as part of an expanded phase two program. The ongoing campaign was designed to evaluate the potential for continuity between the two prospects and new results appear to confirm management’s interpretation that it could be sitting on a bigger and more continuous mineralised system.
Notable step-out results from the latest round include a solid 20-metre intersection grading one gram per tonne (g/t) gold from 82m depth, with a richer 7-metre core running 1.34g/t gold from 83m.
Another hole delivered a 22-metre run assaying 0.95g/t gold from 100m, which contained a higher-grade 9m section going 1.41g/t gold.
‘The results support our interpretation that mineralisation may extend along more than 0.5km of the Leo Grande Shear Zone.’
Moonlight Resources managing director Greg Starr
Other significant step-out intercepts were a 15-metre section at 1.08g/t gold from 100m, a 14-metre strike at 1.11g/t gold from 115m that included 4m at 2.22g/t gold and a 14-metre intercept grading 1.02g/t gold from 60m.
The company says several deeper holes ended in mineralisation, indicating the Leo Grande system has more to give at depth.
The above results are the second batch of assays from the phase two campaign. The initial batch of phase two results, reported last month, also returned broad zones of near-surface gold, including a stellar 42m at 1.01g/t gold from surface and 40m at 1.31g/t gold from 76m, including 5m running 3.4g/t gold from 108m.
That first batch of phase two results extended the mineralised strike at Leo Grande Central by 200m to the southeast and 250m to the north-west. Management believes the mineralisation could link up with the gold it previously hit 600m away at the Leo Grande South prospect area.
Moonlight has also completed six infill holes for 724m in its most recent campaign to shore up confidence in mineralised continuity and increase drill hole density ahead of a possible maiden resource estimate. The best of the infill results was a 23m hit grading 0.78g/t gold from 78m.
The phase two campaign builds on the company’s successful maiden phase one program late last year, which confirmed consistent, near-surface gold across all 14 holes drilled. That initial foray validated historical drilling and produced its own string of impressive hits, including 40m at 1.30g/t gold from surface and 34m at 1.37 g/t gold from just 6m.
Moonlight Resources managing director Greg Starr said: “Drilling at Leo Grande continues to build scale and improve our understanding of the continuity and growth potential of the mineralised system. This second batch of phase two results includes infill and step-out drilling to the southeast of Leo Grande Central. The results have again returned multiple broad intersections and continue to close the gap between the Leo Grande Central and Leo Grande South prospect areas.”
The Clermont project sits in Queensland’s Drummond Basin, a well-endowed gold province that has served up some serious gold mines. It is home to the massive 3.8-million-ounce Pajingo mine, the 1-million-ounce Wirralie operation and the 1-million-ounce Twin Hills deposit, amongst others.
The company’s expanded phase two drilling program is ongoing, with around 10,000m now drilled and further assays pending from along the Leo Grande Shear Zone and into the Leo Grande South prospect.
Moonlight’s systematic approach at Clermont appears to be paying dividends. Starting with the validation of historical work, then stepping out to assess the strike extents and now infilling and extending the system further south, the company is gathering a significant body of work that will provide a solid base for future exploration and development.
With the drill rods still turning and a pipeline of assays still to come, market watchers will be keen to see just how far this Queensland gold system can stretch its legs.
Is your ASX-listed company doing something interesting?
Contact: mattbirney@bullsnbears.com.au