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Latin finds high-grade gold in rock chips around old Lachlan Fold workings

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Matt BirneySponsored
Latin Resources has recently picked up more exploration ground in NSW’s Lachlan Fold Belt.
Camera IconLatin Resources has recently picked up more exploration ground in NSW’s Lachlan Fold Belt. Credit: File

ASX-listed explorer Latin Resources has posted a clutch of high-grade gold sniffs from first-pass rock chip sampling along historical workings within its joint-ventured Yarara gold project about 70km east of Albury in NSW’s Lachlan Fold Belt mineral province. The pick of the grades from almost 60 samples collected were 9.79 grams per tonne gold, 8.58 g/t, 8.41 g/t and 7.79 g/t.

The Perth-based company has already kicked off a close-spaced surface soil sampling program aimed at helping it better understand the broader auriferous trend at Yarara’s Peep O’Day historic workings within the Ournie zone, an old goldfield target area, and prepare for further field exploration.

The Peep O’Day rock chip sampling work was undertaken as part of Latin’s reconnaissance mapping exercise.

It says the rock chips indicate the prospect area is dominated by altered granitic rocks, cut through by a stockwork of sheeted quartz veins.

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Samples were taken from the veins and the altered wall rock and the company says gold mineralisation was encountered at both.

The altered wall rock zone yielded gold values up to 4.53 g/t.

According to Latin, the assays returned from along the 1km-plus strike extent of the old workings point to distinct clusters of gold mineralisation.

The recently commenced soil geochemical sampling will cover the strike length of the historical workings, comprising about 400 close-spaced samples across 14 sample lines.

The company suggests the system may be open and extend to the north and south under cover.

Latin intends also flying a detailed drone magnetic survey to highlight what appears to be an inflection in the main north-south trend that it reckons might indicate a favourable target area for mineralisation.

Contingent on encouraging results from the geochemical sampling and geophysical survey, the company will look to conduct additional on-ground exploration work in the wider Peep O’Day area.

This work may include more grid mapping, infill soil sampling and trenching across the interpreted mineralised trend.

Yarara takes in a whopping 50km of strike length of the Yarara Shear Zone, which contains a bevy of dormant historical gold mines and gold workings.

While it is still early days, these initial rock chip results from the Peep O’Day prospect are encouraging given this area has little to no previous systematic regional exploration, and certainly no previous drilling.

Latin Resources Exploration Manager, Tony Greenaway

Latin, which is earning a 75 per cent interest in Yarara, recently secured 570 square kilometres of new ground-holdings comprising a triumvirate of tenements in the heart of the fertile Lachlan Fold Belt.

The company’s new Manildra, Burdett and Boree Creek project areas are within about 30km north-west of Newcrest Mining’s giant Cadia gold-copper operations and 60km west of Regis Resources’ developing two-million-ounce McPhillamys gold project.

Manildra and Burdett span two contiguous tenements straddling the regional-scale north-south-trending Manildra Fault structure within the Lachlan Transverse Zone for about 30km along strike.

According to Latin, they host several known gold and copper occurrences, including the historical Lady Burdett mining centre where earlier shallow reverse circulation drilling intersected 3m at 7.82 g/t from 57m and 26m going at 1.5 g/t gold from 25m.

Latin hopes to start reconnaissance mapping and systematic geochemical sampling and geophysical surveys at Manildra and Burdett shortly.

Is your ASX listed company doing something interesting? Contact: matt.birney@wanews.com.au

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