18th Jun 2019 14:24
(Alliance News) - Chaarat Gold Holdings Ltd on Tuesday said it is accelerating exploration after its drill programme extended hanging wall mineralisation at the main pit area of its Tulkubash mine and discovered new mineralization in the satellite pits.
Shares in Chaarat were up 4.4% at 31.00 pence in afternoon trade.
More than 3,800 metres of its 20,000 minimum drill target for 2019 has been completed and assays have been received from 16 drill holes, finding new shallow mineralisation in and adjacent to the current pit outlines.
Roadcut and outcrop mapping, as well as sampling, have confirmed the extension of gold mineralisation to the north-east along strike, demonstrating the presence of a "significant gold system".
Given this finding, district-scale exploration at Tulkubash is being accelerated.
"Drill results received to date have extended hanging wall mineralization in the Tulkubash main pit area and have discovered new mineralization in the 'satellite pits' area north east of the main pit. Of particular significance here is the 19.5 metres of 2.2 [grammes of gold per tonne of ore] in hole DH19T478," said Dorian Nicol, senior vice president of Exploration at Chaarat.
"Furthermore, we are very pleased to have been able to accelerate district-scale exploration this season. Field work is being integrated with satellite imagery and geochemical, geophysical, structural, and mineralogical alteration haloes around Tulkubash gold mineralization. Our objective is to continue developing a database of these geological data that will allow application of advanced data handling techniques," Nicol added.
Related Shares:
CGH.L