Dampier Gold has backed up previous exploration success at its Credo project in WA, unveiling the results of a comprehensive soil sampling program which has delineated a “high-grade”, north-west trending gold corridor cross-cutting the company’s tenure and already hosting two high-grade gold resources.
The gilt-laden corridor appears to be related to a deeper underlying structural zone and extends along more than 1,500 metres of strike. The corridor already hosts two shallow gold resources at Credo Well and Credo North, which host more than 86,000 tonnes of high-grade, open pitable ore grading at impressive 4.41 grams per gold, hinting at the potential of the emerging gold-rich trend.
Dampier’s recent drilling program was aimed at defining gold mineralisation across the Credo tenure with 394 soil samples peppering the interpreted high-grade gold corridor, providing geochemical coverage over an area more than 2 kilometres long and 650m wide. Analysis of the assay data shows background levels of around 5 parts per billion gold, whilst the Credo gold corridor itself is highlighted by average sample values in excess of 20 ppb gold and as high as 193ppb gold.
An evaluation of the recent surface sampling program has highlighted a range of targets for drill testing including anomalies proximal to the Credo North and Credo Well resources and a bag of new targets along the south-eastern strike extensions to the newly defined Credo gold structure.
Dampier’s Credo gold project lies 35km north-west of the Kalgoorlie mining centre in the fertile Eastern Goldfields of Western Australia. The project is a joint venture between Dampier and Torian Resources and lies immediately to the north-east of Dampier’s flagship Zuleika Shear gold project, where the company’s 2021 drilling campaign is already taking shape.
Interestingly, the Credo project also sits a mere 8km to the west of the massive multi-million-ounce Paddington gold mine. The history of mining across the terrane dates back to the late 1800s when artisanal miners exploited the rich, gold-bearing quartz-sulphide reefs which outcrop across the region.
Early exploration by Dampier laid the groundwork, identifying key targets across the tenure with initial drilling of the Credo Well and Credo North targets delivering early success. The company is now advancing through its second phase of exploration across the project area.
Dampier has interpreted the Credo structure to potentially extend along more than 4km of strike, with less than half of the corridor having been tested via surface sampling and having already given up a host of drill targets.
With both aircore and reverse circulation drilling set to kick off over Dampier’s projects on the Zuleika Shear in the coming weeks, and sampling having identified a wealth of new targets at Credo, the company is well placed to continue its run of success across the goldfields of Western Australia and consolidate its position in this gold-rich terrane.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
