Pink Mountain Mining Restricted (“RMX” or the “Firm”) is happy to advise that it’s making extremely encouraging progress by way of exploration packages on the Flicka Lake Gold and Copper Undertaking, a part of the 4 100% owned Fry Lake sub-projects, situated in Ontario, Canada.
HIGHLIGHTS
- Since acquisition Pink Mountain has quickly superior the Flicka Lake Undertaking from research part to delivering extremely anomalous gold and copper assay ends in a promising new space
- On the Flicka Lake Gold zone, earlier channel samples included 9.96 g/t Au and 12.96 g/t Au whereas seize samples included 17.88 g/t, 7.38 g/t and 20.07 g/t of Au
- Due Diligence sampling on the Flicka Zone reported Vein #2 with values of 24.2 g/t Au and 19.4 g/t Au and Vein #3 returned a peak worth of 9.35 g/t Au
- Reconnaissance soil sampling reported exceptionally excessive gold from two areas:
- 17.8 g/t Au, 6.32 g/t Au and 1.11 g/t Au returned for 3 soil samples from the north of the venture space
- 0.816 g/t Au returned for a single pattern pattern taken from northwest of current claims
- Outcomes counsel potential for hid excessive grade vein-hosted gold mineralisation just like that seen on the Flicka Zone
- Polymetallic copper-rich soil anomalies with values of as much as 2,420ppm Cu point out the potential of Flicka Lake for volcanic-hosted base metallic sulphide mineralisation, significantly within the northern a part of the tenement
- RMX continues to research these anomalous gold and base metallic outcomes at Flicka Lake in addition to investigating the mineralisation potential throughout the opposite three sub venture areas that make up the Fry Lake Undertaking
- Portfolio has not too long ago expanded in Tier-One Jurisdictions with complementary Gold (WA) and Antimony (NSW) property secured in a low-cost method
The Firm is now conducting deeper investigations throughout all 4 initiatives into historic exploration, constructing databases, reinterpreting historic and new outcomes, and designing additional work packages to check the a number of, potential contextualized targets.
The Firm’s exploration efforts during the last 5 months have developed from primary goal technology to revealing new areas of mineralization. This has additionally included efforts to unlock further areas of mineralisation primarily based on these new and historic outcomes.
In latest months, the Firm has achieved a substantial quantity, together with:
1) In early July RMX recognized of key structural targets throughout the area of underdeveloped Meen- Dempster Greenstone Belt which lies adjoining to the extra developed Pickle Lake Greenstone Belt, host to quite a few gold deposits. It pegged 4 clusters of claims overlaying 37.9km2, specifically the Flicka Lake, Relyea Porphyry, Fry Lake Inventory and the Fry-McVean Shear. The 4 initiatives are primarily based on structural targets, reported alteration, proximity to banded iron, reported gold occurrences and porphyry intrusions, all key parts. (Refer ASX announcement: 2 July 2024)
2) In mid-July, key targets inside the Flicka Lake claims had been discriminated and a sampling program designed round these key parts. The concentrating on centered on the mapped faults, shear zones, reported areas of basement alteration and extensions of know zones of curiosity Recognized by previous explorers. (Refer ASX announcement: 22 July 2024)
3) In Late July, RMX appointed native geological specialist contractors, Fladgate Exploration Consulting Company, to conduct the maiden sampling program which contain a sequence of 100m spaced traverses alongside the goal areas accumulating rock chip and soil samples at common intervals, with bias to areas of alteration or seen mineralisation. Included in this system was due diligence sampling of the Flick Lake gold bearing quartz veins. (Refer ASX announcement: 31 July 2024)
4) Late August Pink Mountain mobilised to website and picked up 283 soil and 91 rock samples throughout the goal areas together with the due diligence sampling. The samples had been analysed by AGAT laboratories in Thunder Bay by Hearth assay for gold and Aqua Regia (soils) and 4 acid digest (rock) base metallic suite. (Refer ASX announcement: 28 August 2024)
5) In early November preliminary outcomes had been introduced from the 91-rock chip samples. The due diligence rock samples validated the Flicka Zone gold endowed vein system with Vein #2 returning 24.2g/t and 19.4g/t Au whereas Vein#3 returned a peak worth of 9.35g/t Au. These outcomes confirmed the high- grade nature of the gold mineralisation within the space. A rock pattern of a pyrite vein 800m WSW of the Flicka Zone and alongside strike of the primary ENE shear produced a 0.514g/t Au highlighted the potential for an extension of the mineralised system. (Refer ASX announcement: 6 November 2024)
6) In Mid-November the soil pattern outcomes highlighted two new areas of mineralisation. Within the north of the venture space three samples with 800m returned 17.8g/t, 6.32g/t and 1.11g/t Au, additionally domestically inside the space anomalous copper as much as 2,420ppm was recognized within the soils. Within the northwest of the tenement a soil pattern returned 0.816g/t Au, highlighted one other space for gold mineralisation. (Refer ASX announcement: 19 November 2024)
Following the appreciable success of exploration actions up to now, the Firm is within the technique of designing a follow-up program to focus on these anomalous soil and rock areas with excessive density rock and soil samples of enough density to outline potential drill targets.
Determine 1: Mapped geology of the Meen -Dempster Greenstone Belt and the Fry Lake properties.
Click on right here for the complete ASX Launch
This text consists of content material from Pink Mountain Mining, licensed for the aim of publishing on Investing Information Australia. This text doesn’t represent monetary product recommendation. It’s your accountability to carry out correct due diligence earlier than performing upon any data supplied right here. Please consult with our full disclaimer right here.
