Latest drilling confirms multiple Au and Ag lenses stacked at Shree Minerals’ Rock Lodge (ASX:SHH)


Shree Minerals Limited (ASX: SHH) advances with encouraging drill results on the Rock Lodge prospect in the Lachlan Fold Belt in New South Wales.

Earlier in the day, SHH announced that it had encountered several stacked gold and silver lenses at the deepest hole, SRLRC005 at Rock Lodge. The deepest hole intersected 4 distinct mineralized zones from 75m to 99m downhole, including [email protected] g/t Au and other [email protected] g/t Au.

Interestingly, the Rock Lodge prospect covers an area of ​​163 km² and exhibits high-grade polymetallic mineralization associated with structurally controlled epigenetic massive sulphide veins. Historical drill results indicate that the area is highly mineralized and the mineral assemblages are similar to other major mineral deposits, located in the Canberra region to the Cooma region of the Ordovician Lachlan Fold Belt.

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Prospects of multiple mineralized zones

At the end of hole SRLRC005 at a depth of 102m, Shree found that the rocks were significantly hydrothermally altered, suggesting that additional downhole areas could have been intersected if excessive water flows n hadn’t stopped the drilling.

Source: company announcement (May 31, 2022)

Without limitation, Shree’s drilling also encountered mineralization in SRLRC02 (8 m at 1.08 g/t Au including 3 m at 2.12 g/t Au), located west of SRLRC005.

Additionally, SHH’s Chief Geologist, Mr. Michael Busbridge, pointed out that the intersections of holes SRLRC02 to SRLRC05 as well as the historic drill hole, including MYRC01, constitute a very wide (60m) mineralized envelope of vertical lenses. stacked with significant polymetallic sulphides at Rock Lodge.

In addition, IP anomalies and similar anomalous rock chip signatures 200 m to the north suggest that the mineralization envelope may continue to this area. As the envelope of mineralization remains open in all directions, drilling is focused on the continuity, depth and lateral extent of the stacked veins, and represents a high priority target for Shree. The remarkable results from the hole suggest that Shree should expect to find several mineralized zones in future drilling programs.

Large mineralization footprint

Shree had begun the RC drill program in April to test priority drill targets, including IP anomalies that coincided with anomalous soil and rock chip geochemistry.

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The holes not only intersected gold and silver mineralization, but varying amounts of bismuth, arsenic, lead, copper, cadmium, antimony and zinc were also found.

The main RC drill intersections of the drill program are as follows:

Significant RC Drilling Intersections

Source: company announcement (May 31, 2022)

Shree’s Extra Plan

Going forward, Shree plans to drill two or three deeper diamond drill holes on the prospect.

Additionally, the miner also intends to undertake a downhole electromagnetic (DHEM) survey to search for outhole conductors, possibly representing broader massive sulphide mineralization.

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In addition, diamond drilling will also help the Company collect oriented structural data, including dips and strikes of mineralized veins. This will also help SHH calculate true widths of mineralization and plan future drilling.


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