Bubalus Resources has identified a series of compelling drill targets at its Crosbie North gold-antimony prospect in Victoria.
An induced polarisation survey found strong chargeability anomalies within a faulted fold system. These anomalies were supported by rock chip results, showing grades of up to 12.1 grams per tonne gold and 2.02 per cent antimony.
Exploration shows that below about 130m, conductive layering appears and bears the same north–south strike as findings from airborne magnetic data. From a depth of about 190m below surface, a resistive zone parallel to the fold hinge begins to manifest and persists to depths of 440m. This zone is tentatively interpreted as quartz veining, stockworks or quartz reefs, which have elevated the resistivity response.
From a depth of about 190m below the surface, several chargeability features start to develop on three of the mapped anticlinal limbs.
Bubalus’ managing director Brendan Borg said the research shows a strong geological similarity between Crosbie North and the Eagle and Swan zones of Agnico Eagle’s Fosterville gold mine, which is located only 15km away.
“Having recently demonstrated the presence of a gold mineralising system at our adjacent Crosbie South intrusion related gold target, we are excited to now have the compelling geophysical data from this new IP survey at Crosbie North,” Borg said. “We will now move rapidly to drill testing these compelling Fosterville-style metasediment-hosted targets.”
Drilling is planned for the current quarter.
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