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49 Metals drills 2740m across nine RC holes at Gold Mountain
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Assays submitted with results expected in coming weeks
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Further drilling planned across Adit zone, IP anomaly and Sealy Ridge targets
Special Report: Samples from the first half of an 18-hole drilling program at 49 Metals’ Gold Mountain project in Nevada have been sent for assay with results anticipated shortly.
Nine reverse circulation holes for 2,740m have been drilled by 49 Metals Limited (ASX:49M) in its maiden program, targeting a large induced polarisation anomaly and structurally controlled zones of known mineralisation.
The 1.2km-long IP chargeability anomaly is interpreted to represent disseminated sulphides at depth, along with extensions of known mineralisation at the Monte Christo and Adit zones.
49M CEO Phil Carter said the company saw great potential across all three of its projects, and looks forward to systemically exploring them.
“The RC drilling program at Gold Mountain is on schedule in terms of cost and time, and importantly, safely with zero incidents to report,” he said.
“We eagerly anticipate initial assays from our Gold Mountain drilling program and look forward to updating investors in due course.”
Upcoming drilling and exploration activities
49 Metals plans to continue drilling at Gold Mountain, with additional holes targeting the Adit zone before returning to the IP anomaly for follow-up work.
The company also intends to drill several holes at the Sealy Ridge target, with the potential for further drilling depending on assay results and geological observations.
Across its broader Nevada portfolio, the company is progressing exploration planning at the Sinter and Buffalo Canyon projects, having raised $10m in a recent IPO to fund exploration activities.
“The March quarter represents a significant milestone for 49 Metals, with the successful completion of our IPO and transition to a publicly listed company,” Carter said.
This article was developed in collaboration with 49 Metals Limited, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
