Red Metal drill hole points to Qld silver-lead-zinc opportunities
Anomalous trace elements associated with lead and zinc mineralisation include silver, thallium, antimony, arsenic, copper and cobalt.
The accompanying and largely coincident anomalous thallium levels – over an intercept of 153m assaying 66ppm thallium – and high silver-to-lead ratios in the analyses point to a likely “near miss” setting, where the drill hole is likely to have pierced the margins of a more highly mineralised zone.
This interpretation has led the company to propose additional holes to target priority gravity targets.
Specific gravity measurements on the dense pyritic sequences are very high and range from greater than 3 grams per cubic centimetre to 4.62 grams per cubic centimetre, which provides a clear explanation of the source of the targeted gravity anomaly.
Heavily pyritic sequences lying close to other big strata-bound silver-lead-zinc deposits often demonstrate anomalous thallium values accompanied by high silver-to-lead ratios.
The new drill hole confirms that the company’s Bluebush prospect occurs within key McArthur River equivalent stratigraphy.
The prospect contains more than 88 historic drill holes within a 15 kilometre by 13km area, 40 of which produce broad intercepts of low-grade zinc and lead mineralisation.
Gravity surveying by Red Metal has identified several high-priority, stratigraphic targets along the trend of and adjacent to historic mineralised drilling.
Imbued with new enthusiasm after this first batch of results, the company’s maiden drill hole will comprise the vanguard assault on the prospect and it has new holes lined up to test the new targets.
Future exploration on Bluebush will prioritise gravity targets closer to the interpreted growth faults where the potential for higher-grade mineralisation is speculated.
The fact that such clear geochemical and lithological coincidence has been defined in Red Metal’s first drill hole aimed at a largely conceptual target has to be taken as a proof-of-concept from a very bold first hole, especially considering its depth.
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