Reedy Lagoon (ASX: RLC) has identified a string of compelling targets for follow-up drilling at its wholly-owned Burracoppin gold project in Western Australia’s Central Wheatbelt region after interpreting new magnetic data and results from soil sampling.
The company says its initial exploration works will focus on the underexplored Yandina Shear Zone – a geological structure interpreted to control the location of several significant gold deposits in the region. Management notes that many of the gold-in-soil anomalies at Burracoppin correlate with structures interpreted from the magnetic data, aiding its target-generation efforts.
More specifically, target-definition works conducted to date have identified four priority prospects at the project. They include Lady Janet, where a 1000m zone showing anomalous levels of gold from previous soil sampling has already been defined, while interpretation of new high-quality magnetic data has added two targets that are ready for drill-testing and another five targets that warrant soil sampling to pinpoint future drilling locations.
Curiously, the 1000m zone at Lady Janet is located along and adjacent to the Yandina Shear Zone.
At Reedy’s Windmills prospect, a target zone measuring at least 1400m by 400m has also been outlined through soil sampling and magnetic data. In turn, management has planned an infill soil sampling campaign to test and better-define existing soil anomalism it believes could be related to gold-bearing mineralised systems.
The company has also identified a prospective 1000m area along the Yandina Shear Zone at the Shear Luck prospect, where four targets have been selected for soil sampling to help outline potential drilling locations. Similarly, infill soil sampling is planned at the Zebra prospect where a target zone measuring at least 1400m has been charted.
Work on the gold targets at Burracoppin is identifying areas of tight correlation between the gold in surface-soil anomalies and structure interpreted in the recent magnetic survey data. This builds confidence in the soil sample data and aids selection of structural targets for further follow-up.
Reedy Lagoon Managing Director Geof Fethers
The Burracoppin tenure covers 241 square kilometres and boasts a 30km strike length of the Yandina Shear Zone. Notably, the project sits just 20km from the Edna May gold mine that has churned out more than 1 million ounces of the precious yellow metal since production began.
Separately, Reedy is also looking to progress its nearby Burracoppin iron project.
The company says its testing of magnetite mineralisation from past drill samples points to the project’s suitability for generating high-grade concentrate, or to act as feed for processing into high-purity pig iron. It believes both products could play an instrumental role in the steel industry’s endeavours to reduce greenhouse gas emissions.
The next phase of planned works at the 100 per cent-owned Burracoppin iron project includes drilling to delineate a mineral resource.
The company’s focus on gold and iron in WA follows subdued market conditions in the lithium sector that have prompted it to put exploration works at its Nevada lithium brine project on ice in response to the muted climate.
However, while Reedy’s gold hunt at Burracoppin is still in its infancy, the project is already showing plenty of potential for hosting a mineralised system. And the company’s push to move the project forward could be perfectly timed with the gold price trading near all-time highs at about $3700 per ounce.
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