GTI Resources’ WA gold project moves ahead of schedule
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
GTI Resources (ASX:GTR) has finished its aircore drilling program at the Niagara Gold Project ahead of schedule.
The Niagara Gold Project is located ~6 km southwest of Kookynie in the central goldfields of WA and comprises one granted exploration licence, E40/ 342 and six contiguous prospecting licence applications including existing applications, P40/1506, P40/1515, P40/1516 and P40/1517 plus the recently acquired P40/1513 and P40/1518.
This region is starting to attract exploration attention and dollars, which has given GTR momentum to drill test its own ground here.
Those who have followed activity in the region will know Genesis Minerals Ltd (ASX: GMD) acquired a 248km2 tenement package at Kookynie that includes 15km of strike length and a JORC Indicated and Inferred Resource of 414,000oz. GMD’s Greater Ulysses Project in this region holds 1.28Moz, and the company is currently capped at $68.5M.
Metalicity Ltd (ASX: MCT) is also located in the region, neighbouring GTR. Its highly successful drilling campaign earlier this year, saw MCT gain almost 250% after hitting “spectacular” high grade results from first assays at Kookynie in its joint venture (JV) with Nex Metals Exploration Ltd (ASX: NME).
MCT’s success hints at the potential of GTR’s WA ground, which is only circa 2km north of GTR’s project. MCT has a 50% interest in its Kookynie project, while GTR has 100% ownership.
The news comes just a week after the company received encouraging assay results from the recently completed second auger soil sampling program.
The recent Aircore drill campaign targeted six of the eight significant gold in soil anomalies identified within exploration Licence E40/342.
Drilling of the targeted geochemical anomalies has intersected quartz veining in a number of drill holes at predicted positions.
The intersected veins are occasionally associated with pyrite selvages and as fracture fill and silicification.
The relationship between the geochemical anomalies and the intersection of quartz veins
will be established once assay results have been received.
Drilling is also providing guidance on the lithology and structure within the drilled areas including silicified faults, which complements the structural interpretation.
Lithologies intersected included basalt, granitoids, ultramafics and metasediments.
The geological and structural model will be updated and interpreted in the coming weeks and then incorporated with the multielement geochemistry when received.
Drilling was concluded ahead of schedule with 52 holes completed at an average depth of 45 metres for 2,321 metres total.
Initial gold analysis is expected in mid to the third week of October and multi-element geochemistry soon after.
An RC rig is scheduled to start testing bedrock targets during late October following receipt of results from the current round of Aircore drilling.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
