Neometals Ltd has received assay results from five reverse circulation drill holes completed at the Ironclad deposit within its 100% owned Barrambie Gold Project in Western Australia.

The program, undertaken in July, targeted extensions of higher-grade mineralisation plunging north below the current Mineral Resource Estimate. Four of the completed holes reached their target depth and returned significant gold mineralisation over widths exceeding 10 metres.

Assay results include hole 26ICRC004, which returned 12 metres at 5.99 g/t gold from 116 metres, including 4 metres at 10.13 g/t gold from 118 metres. Hole 26ICRC003 intersected 11 metres at 5.50 g/t gold from 94 metres, including 3 metres at 15.10 g/t gold from 94 metres. Hole 26ICRC001 returned 18 metres at 2.14 g/t gold from 89 metres, including an 8-metre section at 3.29 g/t gold from 89 metres and 2 metres at 4.61 g/t gold from 103 metres. Hole 26ICRC002 yielded 15 metres at 1.12 g/t gold from 69 metres, including 2 metres at 2.57 g/t gold from 69 metres and 4 metres at 2.34 g/t gold from 80 metres.

The deepest reverse circulation hole, 26ICRC005, was discontinued short of its target zone due to water ingress.

“We are very encouraged by these results. All four completed holes returned significant gold mineralisation over widths exceeding 10 metres and, importantly, the deepest drilling at Ironclad has delivered some of the best grade-width intersections we have seen to date.”

“The results are strengthening our view that Ironclad hosts a higher-grade plunging corridor that may improve at depth. Our recent ground gravity survey has also identified a potential feeder structure off the Youanmi Zone, giving us a clear target for the next phase of drilling.”
— Chris Reed, Managing Director

Neometals plans to complete a diamond drill tail on hole 26ICRC005 and drill a 50-metre down-plunge step-out diamond hole at the Ironclad deposit in September, subject to operational conditions and relevant approvals.

The company is also targeting the execution of a native title agreement and the subsequent grant of a mining lease for the Barrambie project in October, ahead of planned grade control drilling in the December quarter.

Read the full announcement: Barrambie - High-Grade Gold Assays at Ironclad