Latest news with #ReynoldsRange
The Australian
6 days ago
- Business
- The Australian
ITM eyes EM target at Reward
ITM finds potential drill target after conducting EM survey at Reynolds Range The target could highlight gold and polymetallic prospectivity at Reward prospect Company plans drilling later this year Special Report: iTech Minerals has found a new compelling drill target at the Reward gold prospect of its Reynolds Range project in the Northern Territory. The project area is part of the >42km long Stafford gold trend with 50 kilometres of strike coincident with the Trans-Tanami regional structure. The latest find was due to a recently completed moving loop electromagnetic (EM) survey which spotted the target beneath high-grade polymetallic copper-gold-silver-lead-zinc mineralisation. The EM target extends for more than 1.3km and increases in conductivity to the north past the current survey boundary – it's also largely untested by shallow historic drilling. iTech Minerals (ASX:ITM) said the EM target, plus recent rock chip sampling and a review of historical drilling, suggested the Reward prospect was not a base metals deposit as historically suggested, but rather a gold-rich polymetallic massive sulphide system. Rock chip results include: 5% copper, 3.15g/t gold and 2,090g/t silver; 6% Cu and 12.2g/t Au, and 785g/t Ag; and 8% Cu and 19.4g/t Ag. Additionally, results from two diamond holes at the Scimitar prospect (6km from Reward) have intersected thin polymetallic mineralised veins dominated by lead, zinc and silver. While it's not clear if the EM target was intersected in this drilling, the company plans to conduct downhole EM in the coming weeks. Once the down hole EM is completed, the company will determine if there are any nearby conductors worth drill testing. Compelling drill target at Reward iTech is in the midst of a large-scale geophysical program at Reynolds Range, targeting gold-antimony systems at Pine Hill, Sabre, Falchion and Lander prospects. Once completed, drill target generation is next on the cards with the aim to begin drilling later this year. MD Mike Schwarz said the coincidence of a strong EM target directly beneath high-grade, polymetallic surface mineralisation at Reward provided a compelling drill target for inclusion in the upcoming program. 'Our ongoing program of geophysical surveying at Reynolds Range has identified a compelling EM conductor beneath the outcropping high-grade polymetallic mineralisation at the Reward gold prospect,' he said. 'Extending for over 1.3km and increasing in strength to the north beyond the current survey boundary, the target sits below the bulk of historic drilling and remains largely untested. 'High-grade copper-gold-silver-lead-zinc mineralisation in historical workings provide direct evidence for massive sulphide style mineralisation as the source.' This article was developed in collaboration with iTech Minerals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The Australian
18-06-2025
- Business
- The Australian
ITM on tail of Reynolds Range antimony
ITM identifies up to 12.35g/t gold and 5.4% antimony in historical drilling Results add to project's gold and antimony prospectivity with new structures emerging Mapping and sampling planned ahead of drilling Special Report: iTech Minerals has identified gold and antimony in data from historical drilling and rock chips at Falchion prospect of its Reynolds Range project in the NT. The project area is part of the ~42km-long Stafford Gold Trend with 50km of strike coincident with the Trans-Tanami regional structure. Previous gold exploration at Reynolds Range in the 1990s was conducted primarily by Poseidon Gold, Exodus Minerals, North Flinders Mines, Normandy and Newmont. Historical drill holes at Falchion were on the hunt for gold and not routinely analysed for antimony. But now, the company has revealed historical mineralisation over a strike of 400m and this is open to the east. Notable results include: 22m at 2.20g/t gold and 2.3% antimony and 8m at 1.3g/t Au including 2m at 12.35g/t Au and 5.4% Sb; 24m at 2.75g/t Au; 10m at 1.29g/t Au; and 7m at 1.4g/t Au. A review of the controls on gold and antimony mineralisation has identified multiple prospective structures in the surrounding region and this new geological interpretation allows for expanded gold prospectivity at Falchion and surrounding prospects. iTech Minerals (ASX:ITM) plans to test targets down dip of existing mineralisation, extensions of mineralisation to the west and underneath mineralised rock chips missed by historical drilling as well as exploring along strike of the northern gold zone to the east. Watch: iTech joins forces with powerhouse SQM 18km of prospective gold/antimony structures Notably, the geological review found chargeability anomalies caused by high concentrations of sulphides (including pyrrhotite) associated with gold-antimony mineralisation and defined by gradient array induced polarisation. The company also found a subtle magnetic anomaly due to high concentrations of magnetic pyrrhotite associated with gold-antimony mineralisation. ITM has now identified more than 18km of prospective structures coincident with a regional 6.5km-long antimony in lag soil anomaly. 'A review of historical drilling at the Falchion gold-antimony prospect has identified up to 400m of mineralised strike just 1.4km from the 800m-long Sabre gold antimony prospect to the east,' managing director Mike Schwarz said. 'Importantly the Falchion prospect remains open at depth and to the east. 'Up to 18km of prospective structures have been identified in the region based on similarities to the Falchion and Sabre prospects.' Mapping and sampling of the newly identified prospective structures is planned to help narrow down targets with potential for economic mineralisation for drill testing. Drilling is expected to commence in the second half of 2025. This article was developed in collaboration with iTech Minerals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
