Tambourah Metals Completes Drilling Program at Tambourah Gold Project
TMB (TMB) Share Update September 2024 Monday 23rd
Tambourah Metals Completes Drilling at Tambourah Gold Project
Tambourah Metals Ltd (ASX: TMB) has successfully completed its diamond and RC drilling program at the Tambourah Gold Project, located 100km southwest of Marble Bar in Western Australia.
Instant Summary:
- Completed 1010 meters of diamond and RC drilling.
- Targeted high-grade lode gold at Tambourah King, Federal, and Kushmattie prospects.
- Diamond drilling at World’s Fair prospect co-funded by WA government EIS grant.
- Quartz veining and pyrite-pyrrhotite mineralisation observed.
- All RC samples submitted for assay; diamond core dispatched for assay.
Drilling Completion
Tambourah Metals Ltd has announced the completion of its diamond and RC drilling program at the Tambourah Gold Project. The program, which comprised a total of 1010 meters of drilling, targeted high-grade lode gold at the historic Tambourah King, Federal, and Kushmattie prospects, as well as granite-related gold mineralisation at the World’s Fair prospect.
The drilling program included 11 holes, with 8 holes focusing on lode gold at Tambourah King, Federal, and Kushmattie prospects, and 3 holes targeting lode and granite intrusion-related gold at the World’s Fair prospect. The lode gold system at Tambourah is characterized by sub-parallel, northerly striking, narrow, steeply dipping quartz lodes within a wider envelope of carbonate alteration.
Geological Observations
Geological logging has noted variable quartz veining and pyrite-pyrrhotite mineralisation within the Apex basalt, as well as disseminated pyrite and accessory mineralisation within the World’s Fair granite. All RC drilling has been logged, and samples have been submitted for assay. Logging of diamond core on site has been completed, and the core has been dispatched for assay.
Previous Results
The current drilling program follows significant intersections from Tambourah’s 2022-2023 RC drilling programs at Tambourah King, which included:
- 2m at 18g/t Au from 55m, including 1m at 20.2g/t Au from 55m (TBRC026)
- 5m at 6.1g/t Au from 69m, including 1m at 28g/t Au from 70m (TBRC026)
- 1m at 5.57g/t Au from 30m (TBRC004)
- 22m at 2.83g/t Au from 22m (TBRC002)
World’s Fair Prospect
At the World’s Fair prospect, shallow RC drilling in 2023 identified gold mineralisation within basalt and the World’s Fair granite. Significant intersections from this drilling included:
- 3m at 3.3g/t Au from 23m, including 1m at 8.4g/t Au from 23m (TBRC032)
- 4m at 3.0g/t Au from 15m, including 1m at 8.6g/t Au from 15m
The current diamond drilling program targeting the granite-greenstone contact is supported by an EIS co-funding drilling grant from the WA government.
Next Steps
All RC samples have been submitted for assay, and diamond core has been marked up on site and freighted to Perth for sampling and assay. Results from the Tambourah drilling are anticipated to be available in October.
The completion of the drilling program at the Tambourah Gold Project is a significant milestone for Tambourah Metals. The results from the assays will be crucial in determining the potential of the gold prospects. If the assay results are positive, it could lead to an increase in the company's stock price as investors gain confidence in the project's potential.
Investor Reaction:
Analysts are likely to await the assay results before making any significant changes to their recommendations. Positive results could lead to a bullish outlook, while any negative results might cause a more cautious approach.
Conclusion:
Investors should keep an eye on the upcoming assay results, which are expected in October. These results will provide more clarity on the potential of the Tambourah Gold Project and could have a significant impact on the company's stock price. Stay informed and consider subscribing to our newsletter for regular updates on Tambourah Metals and other stock market news.