logo-loader
Mining
viewCervantes Corporation Ltd

Cervantes Corporation’s soil survey highlights gold and copper targets at Primrose

High occurrence of lanthanum could be a pathfinder to rare earth element targets.

Cervantes Corporation Ltd - Cervantes Corporation’s soil survey highlights gold and copper targets at Primrose
New gold zone identified in an old field

Cervantes Corporation Ltd’s (ASX:CVS) soil geochemistry survey at the Primrose Gold Project in WA has indicated that the western contact of the mafic unit which is associated with the Paynes Find Gold Field may be prospective for gold mineralisation.

This contact lies undercover and would not have been subject to the success that early prospectors experienced in the outcropping main field.

Background

The Primrose Gold Project comprises the vast majority of the historic Paynes Find Gold Field and its interpreted extensions to the north and south.

Importantly, it covers tracts of the Primrose Shear which have had little or no modern exploration work done on them.

Primrose project location on regional geology; showing regional historical gold production

Cervantes carried out soil sampling in five areas to test the poorly explored western Paynes Find Intrusive and obtain profiles over an interpreted southern felsic intrusion.

Results identify targets

Gold was found to be highly anomalous along the western contact of the mafic schist. Copper follows a similar pattern, though it is more active in the Paynes Find Intrusive.

Nickel appears more ubiquitously anomalous and possibly reflects the scavenging nature of laterites developed over the area.

Lanthanum shows as particularly anomalous on the northern two areas sampled.

Essential elements and metals for the battery industry

Cervantes executive chairman Collin Vost said: “Payne’s has now provided positive exploration results for nickel, cobalt, copper and lanthanum being all of the essential elements and metals for the battery industry as well as elevated gold results over the entire permits as disclosed in various ASX releases supported by Competent Persons declarations.

“Considerably more work is required to develop a resource in any of the elements/metals but drilling programs are being designed off the various exploration results to date as released to the market.”

Quick facts: Cervantes Corporation Ltd

Price: 0.004 AUD

ASX:CVS
Market: ASX
Market Cap: $1.99 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Cervantes Corporation Ltd named herein, including the promotion by the Company of Cervantes Corporation Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

St-Georges Eco-Mining focused on energy metals and its 'unique' extraction...

St-Georges Eco-Mining's (CSE:SX)(OTCMKTS:SXOOF) Vilhjalmur Thor Vilhjalmsson and Enrico Di Cesare introduce the business to Proactive London's Andrew Scott and outline their focus on energy metals and gold as well as on developing their lithium extraction technologies. The firm has a number...

1 day, 5 hours ago

2 min read