Xpedra Resources has continued to expand its new Springfield gold deposit in New South Wales, tabling even wider, shallower gold hits from a maiden reverse circulation (RC) program.
The latest assays include a cracking 44-metre hit grading 2.03 grams per tonne (g/t) gold from just one metre downhole alongside a separate 24-metre intercept running 2.97g/t gold from surface.
The new intersections from four additional holes have not only returned promising grades, they have also confirmed strike extensions at the growing project, further bolstering the company’s impressive first drilling tilt.
Xpedra notes that broad hits were peppered with higher-grade sections, including a 7-metre portion running 4.04g/t gold and a 12-metre core going 3.46g/t from one hole. Not to be outdone, the 24-metre intercept from surface contained a standout 8-metre hit at a solid 6.71g/t gold, also from surface.
Adding a little more potential spice, that same hole ended in mineralisation, with the final metre returning 2.55g/t gold at 99m depth, pointing to the potential for further riches lurking below.
The Springfield project sits near the historic gold rush town of Gulgong in New South Wales, within the richly endowed Lachlan Orogen. The geological belt is renowned for hosting some of Australia’s most prolific gold systems, such as Newmont’s monster 40-million-ounce Cadia-Ridgeway mine.
Xpedra says its maiden drill program was crafted to test a 1700m-long mineralised intrusion that, remarkably, has not seen a drill rig since the turn of the century, when historical drilling was not only limited but also shallow, leaving plenty of room for a modern-day gold price and explorer.
With the latest assays, Xpedra has now confirmed gold mineralisation remains open along strike and down dip, with follow-up drilling to expand the known gold mineralisation kicking off this week.
Discovering shallow, high-grade ounces is always a timely and economic pursuit, especially with some of the world’s biggest banks maintaining a bullish outlook on the precious metal.
Xpedra says it has no intentions of slowing down at the emerging gold deposit, with its follow-up RC program booked for a minimum of 1000m of drilling and the new holes designed to test for deeper extensions.
Assay results also remain pending for a further eight holes from the initial campaign.
Xpedra Resources managing director Scott Funston said: “The latest assay results, from another four holes, continue to demonstrate the emerging scale and continuity of the Springfield Gold Deposit.”
With the rods spinning again this week and the drill bit set to chase the shallow mineralisation deeper, Xpedra is gearing up for a fresh wave of news flow. If recent results are any guide, that stream should continue delivering gold ounces by the bucketload.
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By Andrew Todd
