Ragnar Metals announced breakthrough assay and geophysics results from recent drilling and SAM geophysics programs at the Leeds Gold Project located 20km south of the Goldfields St Ives gold mining camp in Kambalda.
The results of the SAM geophysics survey are compelling, and several implications are suggested from the images:
A. A new potential high-grade structure has been potentially discovered to the northeast of historic drilling at Leeds as indicated by the breakthrough intersection of 4 m at 6.6 g/t Au in RAG018. The SAM geophysics images indicate this structure trends north-northeast and is open for 500m to the north and has not been drilled.
B. Several strike kilometres of similar SAM anomaly trends have been identified from the work, which are all highly prospective for further gold mineralisation.
C. The SAM geophysics indicates the area of previously identified gold mineralisation at Leeds, comprises a complex array of multiple north-northeast and north-trending structures.
- Breakthrough intersection of 4m at 6.6 g/t Au from 88 m in RAG018 that targeted a newly identified SAM (Sub-Audio Magnetics) anomaly is interpreted as a possible high-grade structure that is open and undrilled for 500m to the north-northeast
- Other significant intersections confirm widespread gold over 800 m strike:
- 12 m at 0.9 g/t Au from 128 m including 1 m at 7.2 g/t Au in RAG007
- 9 m at 0.8 g/t Au from 170 m including 1 m at 4.8 g/t Au in RAG010
- 135 m at 0.25 g/t Au from 52 m including 8 m at 1.0 g/t Au in RAG003.
- The SAM geophysics and drilling results together indicate that the area is highly prospective for multiple gold-bearing structures across the project area
- A comprehensive soil geochemistry survey is currently being planned to assess the extensive new target trends identified from the new geophysics work