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Spitfire Materials Ltd.
Summary
| Project: | Alice River | |
|---|---|---|
| Deposit: | Alice River | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-11-2017: Spitfire Materials Ltd. announces an Exploration/Drilling Update report for its Alice River deposit at the Alice River project. Drilling results incl. 14m @ 5.47g/t Au from 71m. Spitfire Materials Limited (ASX: SPI) is pleased to advise that i | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Matthew White (Internal) | |
| ABSTRACT: | Spitfire Materials Limited (ASX: SPI) is pleased to advise that it has made a strong start to its exploration campaign at the Alice River Joint Venture, located 440km north-west of Cairns in North Queensland, with its maiden Reverse Circulation drilling program returning outstanding results. The initial drilling, which was focused within the previously announced Exploration Target at the Alice Queen and One Mile prospect areas, has confirmed the presence of significant high-grade primary gold mineralisation both below and along strike from historical gold mining areas. The October 2017 drill program at Alice River comprised 14 holes for 2,397m and was successful in validating the historical RC and diamond drilling results reported the 1980s and 1990s by previous companies. The new drilling results have demonstrated that the gold system extends further than previously thought and is open along strike and at depth. The drilling at One Mile targeted the downplunge (northern) extension of shallower mineralisation at Alice Queen. Spitfire’s Managing Director, John Young, said the initial phase of drilling had confirmed the strong potential of the Alice River Project to emerge as a significant longer-term exploration asset for Spitfire alongside its emerging gold portfolio in the Kalgoorlie district of Western Australia. “We are off to a great start, with our maiden drilling program delivering impressive results, confirming our geological model and improving our understanding of the geometry and controls on the mineralisation at Alice River. “From our work to date, we have clearly identified the presence of a significant high-grade gold vein system at the Alice Queen and One Mile areas with excellent potential to grow further and to yield resources in the near term. | |
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