Dynamic eyes new polymetallic structure in WA Goldfields
Cognac West makes up part of the company's broader Widgiemooltha project in WA's southeast Goldfields and management says the drill bit might be scratching the surface of a much larger mineralised beast.
The 19-hole phase two drilling campaign was designed to chase up on March's 32-hole reverse circulation program, which produced some highly encouraging results, particularly at Anomaly B. These included 32 metres grading 0.25 grams per tonne (g/t) gold from 68m, 8m going at 0.36g/t gold and 16m at 0.29g/t gold from 84m.
At another hole, four distinct zones of mineralisation were intercepted ranging from 32m going at 0.25g/t from 32m, 12m grading 0.28 g/t from 76m, 12m at 0.32g/t from 92m and 12m running at 0.28g/t from 112m.
The company says that multiple broad zones of lower-grade gold mineralisation hint at a larger system that may be in play.
About 600m north of the broad low-grade zones at Anomaly B, Dynamic drilled a scissor hole to chase down an earlier standout hit of 4m at a sizzling 5.04g/t gold within 8m at 2.78g/t from 60m in fresh rock. The follow-up didn't disappoint, delivering a solid 4m going 1.66g/t from 56m.
While chasing gold at Anomaly B, Dynamic also hit paydirt with further copper hits. Several holes picked up anomalous copper zones, including 6m running at 0.22 per cent copper from 114m and 12m grading 0.15 per cent copper from 104m. This built on previous hits such as 5m grading 0.44 per cent copper, including a tasty 1m section going 1.06 per cent copper.
Although the copper and gold appear to be unrelated, the results still got tongues wagging, particularly given copper shows up in both the supergene and fresh rock zones.
Chalcopyrite and cobaltite, which are key sulphide minerals, were picked up in one hole at 62m depth. Coupled with an intriguing structural and lithological complexity, the tea leaves point to sulphide-rich mineralisation and the potential for a broader polymetallic system or even a multiphase hydrothermal system.
Micro-XRF mapping has helped identify mineral zoning, suggesting multiple stacked mineralisation events.
A late-time conductive feature, seen in airborne electromagnetic surveys, is being reprocessed to better understand what might be fuelling the mineralisation below.
At Anomaly A - one kilometre east of Anomaly B - drill testing has been completed beneath a surface gold-bearing quartz vein, which threw up some spectacular rock chips, including 2040g/t, 53.1g/t and 8.95g/t gold.
Anomaly A's drill results were a mixed bag and did not replicate the rock chip highs but still pulled up 4m running at 0.15g/t gold from 28m and 4m at 0.12g/t gold from 40m, offering a thread for the company to follow up.
Dynamic has an aggressive exploration program in motion. Reverse circulation drilling is already scheduled for its nearby Chalice South prospect and first-pass assays are pending from the Courvoisier gold target, 4.5km away.
Dynamic is sitting pretty on $3 million in the bank at the end of June and has since received a further $1 million from Mineral Resources as a deferred transaction payment, leaving it well funded to further explore its grounds.
If the next round of drilling confirms what this round is hinting at - a significant, polymetallic mineralised system - then the $13 million market cap junior explorer could quickly move from potential to discovery.
Is your ASX-listed company doing something interesting? Contact:
matt.birney@wanews.com.au
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