Exciting assay results unearthed for 18 shallow RAB holes drilled north of the historical Quartz Ridge Mine, including:
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AT01 – 10m at 1.64g/t gold from the surface to end of hole
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AT04 – 10m at 0.99g/t gold from the surface to end of hole
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AT16 – 10m at 0.85g/t gold from the surface to end of hole
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AT05 – 10m at 0.81g/t gold from the surface to end of hole
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The significant results remain untested by any subsequent exploration
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The significant results remain untested by any subsequent exploration
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Quartz Ridge comprises a line of historical workings with elevated prospectivity extending over 1.6km in length, including:
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The shallow RAB gold intercepts at Quartz Ridge Mine in the far north
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Previously announced high-grade rock grab sampling (upto1,535g/t gold) at Dead Horse Reef Mine in the far south
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The high-grade gold rock chips, anomalous RAB and RC drilling, provide multiple drill- ready targets
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The historical production at Quartz Reef during the mid 19th Century was large enough to support a town with three hotels, a racetrack, stores, a post office and a school
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Here we introduce recently recovered results from historical RAB drilling north of the Quartz Ridge Mine, located within the 100%-owned Turon Project situated near Bathurst, NSW. The Turon Project lies within the Lachlan Fold Belt’s Hill End Trough, a north-trending elongated pull-apart basin containing sedimentary and volcanic rocks of Silurian and Devonian age.
The shallow RAB drill program identified several highly anomalous gold intercepts with results up to 10m @ 1.64g/t gold from the surface to end of hole. All holes were sampled throughout their developed length as a single composite sample of 10m and the anomalous results were never followed up. The program was completed nearly 30 years ago across the northern extension of the Quartz Ridge Mine (Figure 1). Appendix 1A provides a full compilation of the RAB drill program results
Figure 1: RAB drill results at Quartz Ridge Mine with previously announced RC and rock chip results
The Quartz Ridge line of gold workings extend over a length of 1.6km from its namesake mine situated in the northern extremes to the Dead Horse Reef Mine in the south (Figure 2). The vein quartz is up to 10m wide and forms a north-south strike ridge conformable with the adjacent meta sediments of the Cunningham Formation. The Cunningham Formation includes siltstones, slates, calcareous and lithic greywackes, and conglomerates. The Dead Horse Reef Mine contains an adit approximately 130m long.
Past explorers report numerous significant gold grades from chip and mullock sampling, including 1,535g/t, 135g/t, 26g/t, 14.6g/t, 12.55g/t and 11.3 g/t Au, distributed along the length of the gold workings (see KTA announcement dated Nov 11th 2019). The outstanding chip result of 1,535g/t gold lies south of Dead Horse Reef and remains untested by drilling. A peak value of 11.3g/t gold was returned from a chip sample north of the Quartz Ridge Mine, near the currently described RAB drilling. Krakatoa described previous RC drilling which targeted several workings in the group, as “ill-considered and failed to adequately test” the outstanding results (see KTA announcement dated Nov 11th 2019).
Quartz Ridge represents an exciting shallow exploitable opportunity for the Company where multiple walk- up drill targets with significant gold tenor are identified.
Figure 2: Quartz Ridge line of workings and its relation to the Box Ridge line of workings
The Company will now:
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Promote RC or diamond drilling to test rock and drill results south of Dead Horse Reef Mine, north of the Quartz Ridge Mine and at many of the workings in-between.
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Survey, sample and map accessible underground workings; and
Establish the size and tenor of any tailings present.
See Full ASX announcement: https://www.asx.com.au/asxpdf/20200626/pdf/44jz83qyqf3p60.pdf
