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Neometals Ltd (ASX: NMT) Barrambie Gold Historic Drill Assays

Neometals Ltd (ASX: NMT)

Highlights
 
• Previously unreported historic drill data has been sourced for the Ironclad deposit at the Company’s 100%-owned Barrambie Gold Project.
• Data relates to historic infill drilling within and adjacent to the Ironclad Mineral Resource estimate (“MRE”)1 and comprises assays for 61 holes, including multiple material intercepts: • SG199 – 3.0m at 95.7g/t Au from 20m
• SG229 – 17.0m at 6.50g/t Au from 23.0m (including 7.0m at 11.35g/t Au)
• SG234 – 17.0m at 4.42g/t Au from 33.0m (including 6.0m at 9.46g/t Au)
• SG230 – 26.0m at 2.8g/t Au from 3.0m (including 11.0m at 5.85g/t Au)
• SG239 – 32.0m at 2.21g/t Au from 18.0m (including 3.0m at 8.72g/t Au)
• SG220 – 26.0m at 2.51g/t Au from 2.0m (including 6.0m at 9.33g/t Au)
• SG231 – 11.0m at 4.10g/t Au from surface and 14.0m at 2.65g/t Au from 18.0m
• SG228 – 26.0m at 1.70g/t Au from surface
• SG219 – 27.0m at 1.53g/t Au from surface 

Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”), is pleased to provide an exploration update on the Company’s 100% owned Barrambie Gold Project (“the Barrambie Project”), in Western Australia.

Historical assay data for 61 reverse circulation (“RC”) drill holes at Ironclad has been sourced from archives of previously unreported internal company documents, adding 2,271 gold assays to the project dataset. This is a valuable and material addition, equivalent to an increase of approximately 25% of the number of holes and assays in the Ironclad dataset and will be extremely helpful in informing future MRE updates and continued Mineral Resource extension drilling.

Details and supporting information are discussed and presented in the following sections. 

Next Steps

RC drilling is planned in the December Quarter including an initial programme at the Barrambie Ranges historic high-grade mine, follow-up the historic Mystery mine based on recent strong drill results and a resumption of infill and extension drilling at the Ironclad deposit.

Neometals Managing Director, Chris Reed, says:

“The analysis and inclusion of this additional historical data is expected to aid the progression of the Ironclad deposit towards production and mining. We’re progressing related studies in parallel with planning of the next phase of drilling and are also excited to commence our first drilling next month at the historic highgrade Barrambie Ranges mine, which is the first cab-off-the-rank in terms of our broader project exploration strategy”.

To read the full announcement, please click here

About us:

About Neometals

Neometals’ purpose is to deliver stakeholder value by enabling the sustainable production of critical and valuable materials essential for a cleaner future. The Company is commercialising a portfolio of low-cost sustainable processing solutions for critical materials in parallel with the exploration and development of mining operations at its Barrambie Gold Project.

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