Salmon Gums Drilling Update
- Geophysical target yields gold intersection in initial drilling
- Broad spaced drilling of three IP targets nearing completion
- Reconnaissance drilling in progress at two untested prospects
Triton Gold Ltd (ASX: “TON”) is pleased to report that preliminary gold assays from initial reverse circulation (RC) testing of IP geophysical Target 1 at the Lady Penrhyn prospect have returned 0.22 g/t Au in a four metre composite sample from 40m down hole in SGR140.
Broad spaced follow-up drilling over the three IP Targets is in progress and will be critical in determining the prospectivity for gold mineralisation at Lady Penrhyn. Results are expected by late April.
The anomalous gold occurs in quartz-pyrite veining hosted within an intermediate to mafic gneiss. Disseminated pyritic sulphide mineralisation occurs over a 32 metre interval from 24 metres down hole. One metre re-samples from the 40-44m intersection are currently being submitted for fire assay (Table 1 of the ASX announcement).
Target 1 lies immediately west of diamond hole SGDD005 drilled in 2010 that intersected gold to 3.94 g/t in a narrow vein (0.5m wide at 155.5m). The target area includes two IP anomalies over approximately a one kilometre strike length, immediately south of an east-west trending dolerite dyke interpreted from aeromagnetics (Figure 2 of the ASX announcement).
RC drilling in March initially targeted three IP geophysical anomalies with three 100-120m vertical holes designed to penetrate potential sulphide zones predicted as the source of the anomalies. Holes SGR141 and SGR142 tested IP anomalies Target 2 and Target 3 respectively (Figure 3 of the ASX announcement). Both recorded disseminated and fracture fill pyrite in fresh gneissic basement interpreted to be sufficient to account for the IP anomalies, albeit with generally lower levels of pyrite than for Target 1. No significant gold results occurred in composite samples from SGR141 and SGR142.
A programme of broader spaced shallow RC holes (approx 500m spaced lines, 100-150m along lines) designed to transect the three IP targets, and near environs, is in progress and nearing completion (Figure 3 of the ASX announcement). Assay results are expected during April.
Results of the first broad-spaced drilling at the Titanic prospect soil anomaly (Figure 1 of the ASX announcement) in the north of the project have been received with no significant gold intersected. Forty three holes were completed on three east-west traverses and one north-south line, with hole spacing 200-250m along lines. Basement samples are being tested for evidence of alteration.
At the previously untested Borrowdale and Guardian soil prospects west of Lady Penrhyn (Figure 1 of the ASX announcement) broad-spaced drill programs (500mx500m) have commenced with 69 holes completed but no significant assay results received to date. A further 52 holes remain to be drilled over the two prospects, with completion mid-April and assay results during May. Both prospects have shown deeper than expected transported cover sequences and no obvious alteration logged in the bottom-of-hole fresh rock intersections; further analysis of the fresh rock samples will be conducted to determine the presence of subtle alteration signatures.
The Titanic and southern Guardian prospects lie within tenements subject to the Tropicana Gold Belt Alliance, a previously announced agreement between Teck Australia Pty Ltd. (“Teck”) and Triton Gold Limited signed in 2007.
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