Ironbark Zinc Limited’s (ASX:IBG) ongoing geological review at its 100%-owned Fiery Creek Copper-Gold Project in southern NSW has identified five initial high-priority drill targets.
All the targets are proximal to historic workings and coincide with high arsenic values but are either undrilled or have only seen shallow (~20 metres) drilling to date.
The review also identified two major structural features as likely controlling the gold mineralisation, with the Fiery Creek structural setting appearing to be analogous to the Ballarat East deposit in the Victorian Goldfields.
Additionally, Principal Component Analysis (PCA) was conducted on historical soil survey data comprising of arsenic, copper, lead and zinc assays with the highest arsenic and copper grades occurring closest to historic workings - which may assist with drill target identification.
“Large scale exploration opportunity”
IBG managing director Michael Jardine said: “Fiery Creek continues to excite as a gold play and is developing as a large-scale, yet underexplored, exploration opportunity.
“Alongside continuing to assess a variety of funding routes, including options to bring in partners at a project level, Ironbark intends to kick-start the exploration process immediately by applying for approvals to conduct non-disturbing activities across the tenement and concurrently for disturbing activities potentially including soil sampling, rock chip analysis and drilling.”
This work is being planned both inside and outside the Macanally Conservation Area with the non-disturbing activities ikely to include structural mapping and an aerial geophysical survey.
Non-disturbing work program
Jardine said the indicative timeline for the non-disturbing work program completion at the Macanally Conservation Area was early quarter one of 2021.
He said: “Upon completion, Ironbark expects to have one or more walk-up drill targets identified outside the Macanally Conservation Area which can be tested promptly thereafter.
“The data collection and approval process for disturbing activities within the Macanally Conservation Area are expected to take at least six months, suggesting H2 2021 as the likely timing for any such work.
“Following the continuing tight focus on overhead expenditure throughout the current year, Ironbark is comfortable advancing the Fiery Creek exploration program outlined from within its current cash reserves.”