- Drill program is co-funded by the Western Australian
Government through the Exploration Incentive Scheme (EIS).
- Limited diamond drilling by previous explorers returned
intercepts of:
-
- 12m @ 4.51 g/t Au from
201m (SXD 544)
- 5.65m @ 3.07 g/t Au from
341m (SXD 546)
VANCOUVER, BC, July 5, 2021 /CNW/ -- Altan Rio Minerals Limited
(TSXV: AMO) ("Altan
Rio" or the "Company") is pleased to announce a
two-hole drilling program has been completed at the Aries prospect
within the Southern Cross North Project ("SCNP") in
Western Australia.
No exploration has been undertaken at Aries since 2005, where
previous explorers had identified a 1 kilometre x 400 metre gold in
bedrock gold anomaly (> 0.1 g/t Au) beneath a 90 metre thick
recent sediment sequence.
Importantly, the Aries prospect is some 1.6 kilometres north of
the Golden Pig Open Pit and some 750 metres north of the
underground development where combined mining operations up to
closure in 2005 had recorded production of 2.66Mt @ 5.88g/t for
502,119oz Au (refer TSXV: AMO
N43-101 Report).
Between 2004 and 2005, five diamond holes were completed at
Aries to evaluate the bedrock gold anomaly with significant results
recorded including 12m @ 4.51g/t Au
from 201m in drillhole SXD544 and
5.65m @ 3.07 g/t Au from 341m in drillhole SXD546.
These historical intercepts are considered similar to the
mineralisation style observed at the Golden Pig Operations which
was described as intense quartz and calc-silicate veining with
pyrrhotite and chalcopyrite dominated sulphides within a sheared
Ultramafic and Banded Iron Formation (BIF) stratigraphic
package.
In May 2020, Altan Rio was awarded funding under the West
Australian Government's Exploration Incentive Scheme ("EIS")
to conduct a two-hole diamond drill program to further evaluate
mineralisation potential at Aries.
Core processing, logging and assaying is in progress.
Altan Rio acknowledges the
support of the Western Australian Government for the Aries Diamond
Drill Program
Altan Rio Chief Executive
Officer Paul Stephen said:
This diamond drilling program is a significant step towards
unlocking the deeper gold potential at Southern Cross. The
drillholes will not only provide invaluable geological and
structural information from drill core but will provide a platform
for a Down Hole Electro Magnetic (DHEM) Survey with the potential
to replicate the success of DHEM at our Pilot Gold project only a
few kilometres to the north of this prospect.
Qualified Person
Mr. Neal Leggo, Principal
Geologist, CSA Global Pty Ltd, is the independent Qualified Person
as defined by National Instrument 43-101 who is responsible for the
preparation of, and who has reviewed and approved, the scientific
and technical disclosures in this news release.
Altan Rio Mining Limited (Altan
Rio) is a West Australian-focused gold exploration
company primarily focused on the Southern Cross Greenstone Belt, a
prolific gold producing region responsible for well in excess of 12
million ounces.
To read the full announcement visit: www.altanrio.com/news/
Or contact:
Paul Stephen
Chief Executive Officer
Email: ps@altanrio.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Altan Rio Minerals Limited