Auroch Minerals identifies new high-priority drill target at Bonaventura project
Friday, 6 July 2018 Auroch Minerals Ltd (ASX:AOU) has identified two highly-chargeable anomalies at the Dewrang target of its Bonaventura project in South Australia through an induced polarisation survey. The anomalies indicate the potential presence of high-grade base metal sulphides and sit at a depth of around 200 metres and over a strike length of over 400 metres. Shares were up almost 11% intra-day to 9.2 cents. “Potential for high-grade base metal intersections” Auroch chief executive officer Aidan Platel said the results had not only confirmed drill-ready targets at the Vinco and Grainger prospects, but also the fourth drill target at Dewrang. Platel said: “We now also have a fourth drill target at the Dewrang target, where the IP chargeability anomaly is more than twice as strong as that at Grainger, and over a significant distance. “The potential for high-grade base metal intersections is fantastic.” Exploratory drilling to commence this quarter The IP survey was conducted by Planetary Geophysics Pty Ltd and the data processing and modelling was completed by Southern Geoscience Consultants. Two north-south lines 400 metres apart were completed at Dewrang, where historical data had shown high chargeability associated with base metal soil anomalies and the convergence of two demagnetised fault zones. As the fourth and most prospective target, Dewrang will be a priority for the company’s maiden drill program due to begin this quarter. Program will drill copper, zinc and gold targets Up to 2,500 metres of exploratory drilling will be undertaken, targeting highly-prospective copper, zinc and gold targets. The IP survey completed a line at the Grainger target to better understand the IP response of known high-grade zinc mineralisation, defined by rock-chip samples up to 28% zinc and historic drill-hole intersections including 6 metres at 6.3% zinc. It also confirmed a shallow chargeability anomaly over 600 metres of strike at the Vinco target, which remains untested by historical drilling. Drill holes are planned for all three prospective areas and further drilling has been planned for the Kohinoor gold prospect to the southeast, where grab samples from historic artisanal mine workings assayed as high as 33.3 g/t gold. Project on Kangaroo Island The Bonaventura project is in the north of Kangaroo Island, off the coast of South Australia, and covers highly prospective geology and historic mines along 30 kilometres of strike. The company aims to build a portfolio of multi-commodity projects through a process of identification, exploration and subsequent development of assets in under-explored areas that contain historic production and prospective geology.