Tambourah Metals Unveils Promising Gold Discoveries at Federal and World's Fair Prospects
TMB (TMB) Share Update November 2024 Tuesday 26th
Tambourah Metals Strikes Gold in Maiden Drilling at Federal Prospect
Tambourah Metals Ltd (ASX: TMB) has announced promising assay results from its maiden diamond drilling program at the Federal and World's Fair Prospects, part of the Tambourah Gold Project in the Pilbara region.
Instant Summary:
- Maiden diamond drilling intersects gold mineralisation at Federal and World's Fair Prospects.
- Federal Prospect: 0.7m at 3.22 g/t Au, including 0.2m at 9.65 g/t Au.
- World's Fair Prospect: 1.4m at 0.31 g/t Au from 23m.
- Future drilling campaigns planned to explore gold mineralisation further.
Drilling Program Overview
Tambourah Metals Ltd has successfully completed its maiden diamond drilling program at the Federal and World's Fair Prospects, part of the Tambourah Gold Project located 100km southwest of Marble Bar in the Pilbara region. The program aimed to explore and confirm gold mineralisation in previously underexplored areas.
The Federal Prospect yielded significant results, with an intercept of 0.7m at 3.22 g/t Au from a depth of 107.55m, including a high-grade section of 0.2m at 9.65 g/t Au. This marks the first time gold has been intersected at depth in the sparsely drilled Federal line of workings.
World's Fair Prospect Findings
At the World's Fair Prospect, the diamond drilling intersected shallow gold mineralisation, with 1.4m at 0.31 g/t Au from 23m depth. This result suggests the presence of gold associated with the eastern contact between the granite intrusion and the Apex Basalt, which will be a focus for future exploration efforts.
Future Exploration Plans
Following these promising results, Tambourah Metals plans to conduct further drilling campaigns to test the continuity of high-grade gold beneath historic pits along an additional 1,200m of strike. The proposed drilling will be co-funded by an EIS grant of up to $180,000, enabling the company to extend its exploration efforts south of Tambourah King.
The discovery of gold at both the Federal and World's Fair Prospects is a positive development for Tambourah Metals, potentially increasing the company's valuation and attracting investor interest. The findings could lead to a re-evaluation of the project's potential, boosting confidence in the company's exploration strategy.
Investor Reaction:
Analysts are likely to view these results favorably, as they indicate the potential for significant gold resources in the Pilbara region. The market may respond positively to the news, with investors showing increased interest in Tambourah Metals' future exploration activities.
Conclusion:
Investors should keep a close eye on Tambourah Metals' upcoming drilling campaigns and the potential for further discoveries. The company's strategic exploration efforts could yield substantial returns, making it a compelling opportunity for those interested in gold exploration stocks.