Albion Resources Limited (ASX:ALB) Identifies New Priority Gold Targets
New Gold Targets
Detailed data review of the recently acquired Yandal West Project in Western Australia reveals significant gold discovery potential at the Ives Find target area. Three prominent northwest gold trends have been identified, highlighting five priority untested geochemical anomalies. Rock sampling shows high-grade gold mineralisation up to 23.3 g/t Au with no historical drilling.
Geochemical Review
The review of gold-in-soil and pathfinder metals confirms three strong northwest trends that cross-cut the 4km x 1km host granite intrusive. Airborne magnetics indicate that gold is potentially controlled by regionally extensive northwest trending structures. Multiple high-grade gold drill intercepts remain open at depth, representing walk-up drill targets.
Future Plans
Albion plans to further refine targets with soil sampling and IP geophysics prior to aircore and RC drill testing. An IP program is set to commence, aiming to identify chargeability anomalies associated with gold. Field work will be conducted in the second quarter of 2025.
Executive Comments
Non-Executive Chairman Steven Formica stated, “We are very pleased to have recently completed the acquisition of the Yandal West Gold Project which we view as a compelling exploration opportunity in Western Australia’s Northeastern Goldfields. The Project is strategically located in a proven gold producing belt, positioned in-between the Bronzewing and Jundee gold mines operating by Northern Star and adjoining Yandal’s recent Siona discovery, testament to the favorable lithological and structural settings of the Yandal Greenstone Belt.
Our detailed data review of the historical work has revealed significant gold discovery potential exists within the Project. We have identified several new priority gold targets at Ives Find, represented by gold in soil and high-grade rock chip anomalies that are completely untested by drilling. These new targets are in addition to existing drill proven gold targets that have intercepted shallow high-grade gold and remain open at depth.
We look forward to starting our field work shortly, which will form the basis for ranking and prioritising gold targets for drill testing in the second quarter of 2025.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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