Dynamic smashes out phase two drill program in chase for gold

Dynamic Metals has smashed out a phase two 19-hole drill program to follow up previous gold hits at its Cognac West gold prospect, part of the company’s flagship Widgiemooltha project, about 80 kilometres south of Kalgoorlie.

The program was designed to test extensions to encouraging mineralised intersections in its phase one campaign at Anomaly A and B. The phase two drilling targeted down-dip and strike extensions to gold-bearing quartz veins at Anomaly A and tested for structurally controlled repetitions and broader mineralised zones at Anomaly B.

A follow-up program will help refine the geological model for gold mineralisation across both anomalous areas. Assay results are expected in July.

The phase one campaign unveiled promising hits of 8 metres grading 2.87 grams per tonne (g/t) gold, including a solid 4m slice at 5.37g/t from 60m, a 44m stretch at 0.33g/t gold, including 4m going 1.21g/t from 36m, and 24m running at 0.33g/t gold from a depth of 48m.

At Anomaly A, eight drill holes targeted quartz veins previously mapped and sampled at surface. Previously assayed rock chips returned high-grade results, including a head-turning 2040g/t gold in one gold-rich sample.

Other samples include an impressive trio grading 53.1g/t, 8.95g/t and 5.91g/t gold.

Dynamic’s phase one drilling program tested ground immediately below the quartz veining and encountered low-level gold grades from a depth of 28m to 40m. The phase two program targeted a down-dip extension of the quartz vein in fresh rock.

The company drilled an initial six holes about 500m to the east of the zone, using 100m-spaced holes to target gold in soil, which identified a 220m trend of anomalous gold. Phase two drilling tested for gold west of the zone to ascertain if the anomalous results could be sitting on the edge of a larger mineralised system.

About 1km west at Anomaly B, 11 drill holes were plunged into the ground to test the continuity and structural orientation of the mineralised volcaniclastics intersected in the phase one program.

The mineralised low-grade 24m and 44m intervals from phase one are potentially on the edges of a more robust gold system. The latest drilling tested this concept further by targeting different orientations to test for interpreted structural features related to gold mineralisation.

The high-grade hit comprising 4m at 5.37g/t gold is about 600m northwest of the low-grade find. Phase two drilling tested for down-dip extensions and along strike extensions to the mineralisation.

We are pleased with the smooth and timely execution of our second drilling program at Cognac West. Phase one delivered multiple broad and high-grade gold intercepts, and phase two has allowed us to continue to systematically test the lateral and depth potential.

Wellman said the company was awaiting results, which, with new geological information, would significantly progress its understanding of the gold prospect.

Cognac West has a complicated geological structure, with smaller faults and cracks formed around a late felsic intrusion. It sits 500m east of the Republican Thrust fault, a structurally rich zone that has only been given modest attention since near-surface work in the 1970s.

Historical data from the period can often be patchy at best, however, data shows one drill hole returned a stellar 1m interval at 91.3g/t from 41m.

The previous reverse circulation phase one campaign comprised 4800m across 32 holes in two prime anomalous zones. Each hole was drilled down to 150m. Dynamic drilled 14 holes at its Anomaly A zone and 18 holes across Anomaly B.

Management plans to incorporate the assay results with its ongoing mineralogical study results into its geological model to determine its phase three work programs at Cognac West. Other data analysis and fieldwork continues across the Widgiemooltha project.

The Cognac West project is near several million-ounce gold mines, such as Gold Fields’ St Ives underground and open pit operations and Westgold Resources’ Higginsville mine.

The company had a tidy $4.1 million stash of cash at the end of March, providing it with plenty of exploration firepower.

Dynamic will be eager to leap into its phase three program at Cognac West and will be hoping its phase two results warrant an even bigger follow-up campaign.