Critical Resources Reports Visual Antimony Mineralisation at Hillgrove South Prospect
CRR (CRR) Share Update November 2024 Monday 18th
Critical Resources Identifies Antimony Mineralisation at Hillgrove South
Critical Resources Limited (ASX: CRR) has announced the identification of visual antimony mineralisation at the Hillgrove South Prospect, part of their Halls Peak Project in New South Wales.
Instant Summary:
- Visual confirmation of antimony mineralisation at Mayview Homestead Prospect.
- Historic workings mapped and sampled, extending over 270 meters.
- Samples dispatched for assay, results expected in 3-4 weeks.
- Fieldwork ongoing at Halls Peak, covering 981 km².
- Potential connection to Hillgrove Antimony-Gold System.
Exploration Update
Critical Resources Limited, a company focused on critical minerals exploration and project development, has successfully completed a ground mapping and sampling survey at the Mayview Homestead Antimony Prospect within their Hillgrove South Prospect. This area is part of the broader Halls Peak Project, located in the New England Fold Belt, a region known for its rich mineral deposits.
The exploration team has identified historical mine workings and visually confirmed the presence of antimony-bearing stibnite mineralisation. These findings extend over a stretch of 270 meters. The samples collected from old mine dumps include antimony oxide and sulphide, which have been sent for express assay, with results anticipated within the next three to four weeks.
Geological Context
The Hillgrove South Prospect is situated near Larvotto Resources Ltd's Hillgrove Antimony-Gold Project, noted as Australia's largest Antimony-Gold System. The findings at Mayview Homestead could potentially be a continuation of this system. The mineralisation at Mayview is characterized by multiple quartz and oxidised stibnite veins, with some samples showing veins up to 4cm wide.
Ongoing Work and Future Plans
Fieldwork is ongoing across the Halls Peak Project, which spans an area of 981 km². The results from current exploration efforts will guide further exploration and drilling programs aimed at uncovering additional resources and better understanding the geological structures in the area.
The identification of visual antimony mineralisation at Hillgrove South could enhance Critical Resources' portfolio, potentially increasing the company's valuation. However, the reliance on visual estimates rather than lab-confirmed results introduces uncertainty. Investors may respond cautiously until assay results are confirmed.
Investor Reaction:
Analysts are likely to react with interest, given the potential for expanding the known antimony-gold system. However, the lack of laboratory confirmation means that investor enthusiasm may be tempered until more definitive results are available.
Conclusion:
Investors should watch for the assay results expected in the coming weeks, which will provide more clarity on the potential economic viability of the mineralisation. Critical Resources' continued exploration efforts could lead to significant discoveries that may impact their market position.