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Explaurum reports 716 g/t intercept at Tampia gold project

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Explaurum reports 716 g/t intercept at Tampia gold project

Explaurum Ltd. recorded the highest-grade intersection at its Tampia gold project in Western Australia, the company said Aug. 7.

Results included an intersection of 10 meters at 72.94 g/t of gold from 61 meters, including 1 meter at 716 g/t of gold from 68 meters.

The standout intersection came from the south-central part of the project's Merino gold zone and the one-meter sample was panned, with several gold nuggets found in a 2-kilogram sample.

According to Explaurum, the intercept is part of the fifth update of results from the recent resource drilling program at Tampia, which has been finished with 287 reverse circulation holes totaling 36,339 meters. Drilling was initially planned to total 26,200 meters but was expanded due to the discovery of new gold mineralization zones.

The company also said the high-grade result from Merino is surrounded by other high-grade results, defining a new ore shoot like the shoots found in the Wanjalonar and Leicester gold zones. The mineralization confirms that the Merino and Leicester gold zones are continuous and high-grade gold shoots are present in all three gold zones.

Furthermore, the final holes drilled in the Wanjalonar gold zone continue to intersect gold mineralization along the southern boundary with the Merino gold zone, and mineralization remains open downdip to the southeast. Final holes drilled in the Leicester gold zone also continue to intersect high-grade mineralization, confirming grade continuity and extending the mineralization to the south.

Leicester's gold mineralization remains open to the south and southeast at depth, and these potential extensions will be tested by exploration drilling planned before the end of the year.

The company expects the final assay results from the recent drilling at Tampia by mid-August, and a new JORC-compliant indicated resource for the project is anticipated in early September.

Tampia's updated resource will be the basis of the ongoing feasibility study due at the end of the year, while an updated scoping study is expected to be completed by the end of October.