G11 Resources Limited (ASX: G11) today provided an update on its exploration activities in western Tasmania, with a primary focus on its wholly-owned Zig Zag Copper/Gold Project. G11 Resources Limited is an exploration company focused on developing mineral projects in western Tasmania, holding exploration tenements targeting copper and gold in the highly prospective Mt Read Volcanic belt. The company has designed three new drillholes at Zig Zag, aiming to target the northern extension of a large alteration zone further defined from previous drillhole SD2602. This project is situated immediately north of Sibanye-Stillwater’s Mt Lyell Copper Gold mine, which recently approved its restart with first ore expected by 2029.
Assay results from drillhole SD2602 confirmed a zone of weak to moderate phyllic alteration, extending approximately 62 metres downhole, with elevated concentrations of pathfinder elements including silver, arsenic, and antimony. This alteration is associated with a faulted contact between black mudstones and underlying volcanic rocks, which the company interprets as a compelling exploration target. Alteration zones of this scale within the Mt Read volcanic belt are known to host world-class Volcanogenic Massive Sulphide (VMS) ore bodies, such as Roseberry and Mt Lyell, prompting G11 to refine its geological model for improved follow-up drilling at Zig Zag Hill.
Separately, G11 Resources reported a temporary pause in diamond core drilling at the Sunrise prospect within its Linda Project (EL6/2024). This halt is due to poor ground conditions encountered during drilling, which has impacted productivity. The company is actively sourcing an alternative drill rig better suited to the challenging terrain and geology to complete the exploration program testing an AEM conductivity anomaly in the Comstock Valley, east of the Mt Lyell Mine.
