Laconia Resources Limited (ASX: LCR) has reported some early promise from its maiden drill programme on the 100% owned Kraaipan Gold-Nickel-Copper-PGM Project in southern Botswana.
The company said a diamond-core drill hole testing an EM anomaly at exploration target KB01 has intersected approximately 10 metres of disseminated to semi-massive sulphides near the depth of the EM plate used to model this anomaly.
Laconia’s CEO Dr Quinton Hills said this zone of sulphides is similar in appearance to the sulphide zones intersected in the holes drilled to test the KB04 and KB05 EM exploration targets but has a greater concentration of sulphides.
I am very pleased that our maiden drill programme has had a 100% success rate with intersecting disseminated to semi-massive sulphides when drilling EM exploration targets. We now look forward to receiving the assay results from these drill holes,” Dr Hill said.
He said the mineralisation intersected in all the diamond-core drill holes appears to be of a similar style to some of the historic drilling intersections in the south of the Kraaipan Project and therefore, may also contain gold mineralisation, as well as PGM’s due to its spatial association with highly magnetic, gabbroic, mafic intrusives.
Assay results for this drill hole are expected around mid-February 2018.
The diamond-core drilling part of the program has been completed at Kraaipan but several geochemical anomaly targets are still to be tested with RC drilling.
Dr Hill said exploration targets CEN003 and CEN004 are both a gold anomalous zones of approximately 700 and 600 metres respectively.
These gold anomalous zones are interpreted to be hosted within greenstone rocks that are proximal to a major east-west shear zone that could have been a conduit for gold enriched mineralising fluids.