Storage Vaults News
Further exploration opportunities found at Yorke Peninsula
Yorke Peninsula could be home to further gold reserves, following analysis of recent assay results from the site. Investigator Resources found there is particular potential for iron oxide copper gold (IOCG) to be found in the area.
Two diamond core holes – known as Roundabout and Spyall – were drilled at the Northern Yorke Peninsula. Material from both holes was sent for analysis and the team now believes there is significant exploration potential throughout the area.
One of the most notable findings was the 37-metre interval of anomalous gold at one of the holes. Previous drilling undertaken at the site had shown the gold to be either at or below the detection range. These latest tests show that the peak value is the greatest ever seen by Investigator Resources in the region.
Managing Director John Anderson said: “The elevated gold and copper results continue to show there is further exploration opportunity for shallow IOCG deposits in this under-explored area of the Northern Yorke Peninsula.
“The gold-anomalous zone at the bottom of the Roundabout hole is particularly pleasing. It is a possible indicator that the hole is on the edge of a large mineral system.”
The group revealed that the results so far have been encouraging, with the company now keen to explore other nearby areas to see whether there is anywhere else worth exploring.
Work has been underway at the Roundabout and Spyall holes for several months, as access agreements were finalised with local landholders in December 2014. Drilling got underway in mid-January after a contractor was appointed to test the geophysical targets.
The company worked closely with landholders to minimise the environmental impact of the site, and to cause as little damage as possible to farmland within the surrounding area. Coconut fibre matting was laid down so vehicles could pass through nearby fields.
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