Clancy Exploration Limited (ASX: CLY) is moving quickly to with a fast-tracked maiden exploration work programne on its newly acquired Hong Kong Gold Project in the Pilbara Region of Western Australia.
Clancy acquired 100% of the Hong Kong Project from Red Field Pty Ltd on 1 December 2017 and is about to kick-off an exploration programme targeting conglomerate-hosted gold, lode gold and VHMS mineralisation.
The two-phase program will include:
- Phase 1: Satellite imagery interpretation for regolith and landform analysis combined with a review of historical data to develop suitable and systematic exploration strategies for the identified environments.
- Phase 2: Surface exploration including metal detecting, geological mapping together with surface and stream geochemistry sampling along the exposed and highly prospective lower Fortescue Group that is the host stratigraphy to several recent conglomerate-hosted gold discoveries in the region.
The early focus will be concentrated along the exposed sections of the lower Fortescue Group.
Clancy’s Chairman, David Lenigas, said the exploration programme will be expanded to include Archaean lode hosted gold mineralisation and VHMS mineralisation on the Project.
The overall objective of this programs is to define targets for RC (reverse circulation) or diamond drilling.
I’m pleased we have started moving so quickly after acquisition of this prime exploration ground in the Western Pilbara, and I look forward to reporting initial exploration results and findings as soon as practicably possible.
“The area has a good history of gold occurrences1 and we have a lot of prospective targets to roll up our sleeves and get stuck in to.”
Subscribe to The PickGet your Free Copy of THE PICK - Australia's Premier Resources Sector Investment Magazine - direct to your inbox...
The Hong Kong Gold Project is comprised of one granted exploration licence (E47/3566), which covers 40 km2.
Mapping of the Project by Geological Survey of Western Australia has outlined a highly prospective >5km strike length of the basal contact between the Mt Roe Basalt and older Archaean Basalt that is the host stratigraphy to several recent conglomerate-hosted gold discoveries in the region.
The Project contains numerous historical bedrock and alluvial gold workings. The latter noticeably exist along creeks draining from the conglomerate.
The Project is located 100km south-southwest of Port Hedland in the Western Pilbara Goldfield of Western Australia. Access to the Project is via the sealed Great Northern Highway for 100km south of Port Hedland thereafter via good quality graded roads.