ITM eyes EM target at Reward

The Australian

10 hours ago

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.