Australian gold and cobalt explorer AlloyResources Limited (ASX:AYR) has announced that it has received assays from alarge soil sampling program at the Ophara cobalt-gold project, and they showextensive new cobalt mineralization trends over a 60 square kilometre area.
Further, the assays indicate that the GreatGoulburn anomaly extends from 700 metres to over 3 kilometres, as well as indicatenew anomalies between 2-3 kilometres long.
The Ophara Project is located in the BrokenHill region of far west NSW, and is adjacent to, and has the same geology as,the Thackaringa Cobalt deposit defined by Cobalt Blue Holdings.
According to AYR, the area is "generallycovered in thin transported cover which has precluded geological mapping ofmineralised trends which are inferred from aeromagnetics".
This latest programme covered a 60 squarekilometre area surrounding the known Great Goulburn cobalt-gold prospect, withthe intention of defining extensions and repetitions of the mineralisation. Infilland extension sampling is set to recommence in the near-term.
Of course, as with all minerals exploration, success is not guaranteed -consider your own personal circumstances before investing, and seekprofessional financial advice.
Get the latest articles straight to your inboxkeep me postedExecutive Chairman Andy Viner commented on theresults: "We are very happy to say that it looks like the cobalt-goldmineralisation that outcropped at Great Goulburn is continuing under the soilcover over an extensive area. We believe there are extensions and repetitionsof the mineralisation and infill sampling will quickly define new drill targets.
"Just as importantly the anomalies are notclosed off and we have large areas of the project that now justify first passsoil sampling and there is a good chance we will locate more areas of mineralisation,"he said.
AYR plans to get a team back on site within afortnight to commence the next stage of exploration, infill sampling of theanomalies and inspection of any surface exposures of mineralization.
Last month, the companyannounced it had reached an agreement with Jindalee Resources(ASX:JRL) to acquire an Option to purchase an exploration licence application (withinthe highly prospective Millrose Greenstone Belt) adjacent to AYR's Horse WellGold Project.
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