Essex Minerals reports promising drill results from initial six-hole program at Drummer Fault project

Essex Minerals Inc has revealed encouraging results from an initial six-hole program on its Drummer Fault gold project in Queensland, Australia.

The junior resource company reported several high-grade gold intercepts from the 19-kilometre-long fault structure.

Notable intersections include 3 metres grading 5.1 grams per ton (g/t) gold and 51.2 g/t silver, including 1 metre grading 8.2 g/t gold and 35.6 g/t silver, and 1 metre grading 3.5 g/t gold and 4.5 g/t silver.

READ: Essex Minerals completes first six drill holes at Drummer Fault in North Queensland

Other holes intersected 1 metre at 4.6 g/t gold and 6.8 g/t silver, and 7 metres at 1.74 g/t gold and 67.7 g/t silver, including 3 metres at 2.9 g/t gold 137 g/t silver.

The Vancouver-based company told investors that visible gold was believed to have been identified in at least one of the holes, and sent 75 mineralized samples to the laboratory for assaying.

All drill holes intersected gold, silver, or base metal mineralization, according to Essex. Five holes were drilled under the Drummer Toy Pit and one hole under the Drummer West Pit.

Results look promising

“We are very pleased that the initial drilling in the eastern portion of the Drummer Fault structure has demonstrated that gold mineralization persists below the previously mined shallow oxide zones,” Essex CEO Paul Loudon said in a statement.

“The width and tenor of the mineralization justifies follow-up exploration with the aim of identifying an economic gold resource along the Drummer Fault structure, which has consistently demonstrated gold mineralization in six small open pits, previous drilling and rock chip samples along 14 kilometres of the identified strike length.”

Loudon added that follow-up exploration will be incorporated in programs being planned for what the CEO feels is a “potentially very large, but as yet untested, Mt Turner copper-molybdenum (plus gold and silver) porphyry complex,” which is 1.4 kilometres south of the Drummer Pits.

Essex Minerals is focused on mineral exploration and mine development and finance opportunities where it can adopt an option earn-in and joint venture model without the issuance of vendor shares.

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Story by ProactiveInvestors