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August 12, 2022 (Investorideas.com Newswire) By Australian mining standards, a large part of New South Wales remains relatively unexplored. Highly prospective ground, most with high-grade historical showings, remains available for further exploration.
RooGold Inc. (CSE:ROO) (OTC PINK:JNCCF) (Frankfurt:5VHA) is uniquely positioned to be a dominant player in New South Wales through a growth strategy focused on the consolidation and exploration of highly mineralized precious metals properties in this prolific region of Australia.
Tucked into the northwestern part of the New England Orogen, the 42-square-km Arthurs Seat project is characterized by intrusion-related mineralization with multiphase quartz-tourmaline stockworks and polymetallic Au/Ag rich veins.
The project hosts three historical silver-tungsten- antimony mines and prospects, including the Murrays and Co mine, which returned chip samples grading over 1,200 grams per tonne Ag. Murrays and Co was mined in the late 1890’s, including development of underground adits and shafts driven into silver- and tin-rich quartz and tourmaline veins.
The property, also known as Exploration License (EL) 9144, is centered on the regional Severn Thrust Fault and mineralized granitic/sandstone contact.cThe fault potentially represents a 7-kilometer-long underexplored target.
In June, RooGold announced the completion of a preliminary rock chip sampling program at Arthurs Seat.
A total of 274 rock chip samples were collected at historical prospects and along structural and geological contacts, from which 159 samples were sent to the lab for analysis. The samples featured significant hydrothermal alteration with multiple quartz veins visible.
The field work sampled mullock dumps and shafts at the Murray and Co Mine and McDonalds prospect, as well as along the N-S fault and the greisen-altered granite contact at the Arthurs Seat prospect.
Twenty-seven samples were collected from Murray and Co’s mullock heaps and historical shafts. Highly anomalous gold and silver assays were returned over a 40m strike length at the mine, as shown in Figure 1, which is located within a zone of quartz-veined metasediment approximately 350m in E-W strike length.
Forty-seven samples from the McDonalds prospect returned anomalous gold and silver assays over a 600 x 350m area. Visual observations of some samples included massive stibnite, and returned antimony (Sb) values up to 12.75% Sb.
Figure 1: High-grade sampling results from the Murray and Co Mine colored by Ag g/t. Highest gold result of 6.27 g/t Au and 1,725 g/t Ag in 40m zone of historical shafts.
According to RooGold, the rock chip sample assays confirmed historical assays at the Murray and Co Mine and McDonalds prospect.
“These results are highly encouraging and show the potential for a polymetallic precious and base metal deposit along strike from the high-grade silver values at the Murray and Co Mine located 2.75 km to its west,” the company states.
The highest gold value of 6.27 g/t Au and 1,385 g/t Ag (silver) was returned from a brecciated and silicified metasediment in the westerly most shaft, containing multiple quartz veins. Table 1 shows significant assay results from the rock chip sampling at the Murray and Co mine. According to RooGold, very little historical work has been done at the mine; the gold assays are the first to be reported from there.
Table 1: Significant assay results from rock chip sampling program at the Murray and Co Mine (>100 g/t Ag, >0.09 g/t Au) from Arthurs Seat Project.
Table 2: Significant assay results from rock sampling program at the McDonalds prospect (>0.1 g/t Au and >20 g/t Ag) from Arthurs Seat Project. Listed in order of sample number, rounded to two decimal places.
Within the mullock heaps and shafts at Murray and Co, nine samples were over 400 grams per tonne silver, including four samples greater than 1,000 g/t Ag; and five samples >1 g/t Au, of which one sample was >5 g/t Au.
The nine samples were over 1,000 parts per million (ppm) copper including one sample at 1.1% Cu.
“Our first pass rock chip sampling program at Arthurs Seat has returned high-grade gold-silver assays. These results confirm the historic assays of known prospects and are highly encouraging for follow up work,” said RooGold’s CEO Carlos Espinosa, in the Aug. 10 news release.
In addition to its field work at Arthurs Seat, RooGold has established land access at its Castlerag silver project. The project features 11 historical silver/gold mines and prospects, including the Castle Rag silver mine, with small-scale production at grades of up to 1,200 g/t Ag and >20% Pb (lead). Castlerag is characterized by intrusion-related mineralization with multiphase quartz-tourmaline stockworks and polymetallic Au/Ag rich veins. Sampling of these workings is imminent.
RooGold Inc.
(CSE:ROO) (OTC PINK:JNCCF) (Frankfurt:5VHA)
Cdn$0.05, 2022.08.10
Shares Outstanding 69.7m
Market cap Cdn$3.9m
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