Arcadia Minerals Ltd (ASX:AM7) (Arcadia or the Company) is pleased to announce grab sampling assay results of 57 rock chips samples of outcropping mineralisation taken over a northeast-southwest trending, 2 km wide and 20 km long structural feature located on the Company’s Karibib Copper-Gold Project, held through its 80% owned subsidiary (see-through 68%) Karibib Pegmatite Exploration (Pty) Ltd (Karibib).
The purpose of the sampling program was to test whether mineralisation extends over the extent of the structural feature located under the Karibib license and to determine the dominant mineralisation style (skarn or vein-type), which are known to occur on the EPL and elsewhere in the fertile Karibib Copper-Gold Belt.
Both contact-skarn and polymetallic replacement vein-type mineralisation styles are associated with the 5.3MozAu1 Navachab Gold Mine, which mine was previously owned by Anglo-Gold Ashanti and is currently owned by private equity firm QKR Corp. In contrast, the Twin-Hills prospect of Osino Resources Ltd (TSXV.OSI), containing a 2MozAu resource2 , displays vein-type mineralisation. Navachab is situated 32km north of the Karibib project and the Twin-Hills Project is situated 40km north-east of the Karibib project, all of which lie within the same geological environment (see figure 1 below).
HIGHLIGHTS
- Results received confirm mineralisation extends over the exposed rocks of a 20 km x 2 km metasedimentary structural feature
- Outcropping skarn-type mineralisation rock chip samples (44 samples) returned the following average results:
- 4.32 % Cu (highest 28.40% Cu)
- 1.49 g/t Au (highest 7.65 g/t Au)
- 50.50 g/t Ag (highest 453 g/t Ag)
- 0.23 % (highest 1.00% WO3)
- Outcropping vein-type mineralisation rock chip samples (13 samples) returned the following average results:
- 1.94% Cu (highest 5.69% Cu)
- 2.06 g/t Au (highest 26.30 g/t Au)
- 12.68 g/t Ag (highest 30.10 g/t Ag)
- Both vein- and skarn-type mineralisation, which is known to contain economic mineralisation in the area, were encountered on or near the contact margins of large diorite intrusions
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