Highlights
Diamond drillhole CM24-16 was first reported in April 2024, with assays returned for the upper portion of the hole (88m @ 4.18g/t Au). The hole was extended to ensure that it finished outside of the sedimentary breccia, with recent assays extending the intersection to 104.7m @ 3.65g/t Au.
The RC drill rig is focused on infill drilling and testing the margins of the existing Mineral Resource. Significant results received to date include 74.7m @ 4.27g/t Au and 25.9m @ 1.92g/t Au.
The Mineral Resource update is currently underway. Results from CM24-16 will be included in this update, however the RC results will be included in a subsequent update later in the year.
Commenting on the study, Managing Director, Stephen Baghdadi, stated:
“These drill hole results are further confirmation that the Colosseum project has delivered consistent gold grades in a wide zone.
“With the updated MRE expected in the next few weeks, we plan to move quickly to determining a mine plan to extract value for our shareholders.”
Drilling Results
Following a scheduled break, the drill crews returned to site and continued drilling within the south pit at Colosseum. The aim of the diamond drilling program is to extend the mineralised zone at depth, below the existing Mineral Resource, whilst the RC program is undertaking infill work as well as better defining the margins of mineralisation.
The RC drilling intersected mineralisation within the sedimentary and felsite breccia units in RC24-003 and RC24-004. Both holes intersected mineralization in more sulphide rich zones containing pyrite, sphalerite, and/or galena >5%.
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