DiscovEx Resources : Quarterly Activities Report
DCX.AX
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ASX ANNOUNCEMENT - DISCOVEX RESOURCES LIMITED
13 January 2022
December 2021 Quarterly Activities Report
Highlights
Putting the Explore back into Modern Exploration
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EXPLORATION AND EVALUATION
DiscovEx Resources Limited ("DiscovEx" or the "Company") continued its greenfield exploration approach within the quarter with activities distributed across all project areas within the company's portfolio. Activities included broad scale (400 x 200m) soil sampling and infill soil sampling (100 x 100m) at the Sylvania Project, AC drilling and soil sampling at the Edjudina Project and analysis of auger results from the Newington Project. Additional activities were completed at the Greater Duchess Project, within the Joint Venture ("JV") between Carnaby Resources Limited (ASX: CNB or "Carnaby") and DiscovEx. Carnaby has returned significant copper mineralisation from recent RC drilling at the Nil Desperandum Prospect1. DiscovEx holds a 17.5% interest in the Greater Duchess tenements and is free carried through to a decision to mine.
Figure 1: DiscovEx Resources Limited Project locations
1. ASX announcement (ASX:CNB) "Major copper discovery [email protected]% Copper, including [email protected]% Copper at Greater Duchess Project" dated 29/12/2021.
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SYLVANIA PROJECT
Assay results from phase two, infill sampling weas returned with coherent, large‐scale Au anomalies generated. Sampling was completed on 100 x 100m sampling centres to compliment the phase one 400 x 200m sampling and sieved to ‐177um before analysis. Infill sampling has confirmed the continuity and scale of the phase one results with peak assays of 503ppb Au (0.5g/t Au) from the Hilditch Prospect, 101ppb Au (0.1g/t Au) from The Peak Prospect and 83ppb from the Bondinis Prospect.
Hilditch and Bondinis Prospects
Both Prospects are located at the northern end of the tenement package, approximately 18km south‐west of the giant Mt Whaleback iron ore deposit. Multiple anomalies have been generated proximal to the interpreted extension of the Mt Whaleback fault which strikes SW and dips to the SE, however is largely obscured by transported cover within the tenement. This regionally significant fault is largely thought to have had an impact in upgrading iron ore mineralisation at Mt Whaleback, through the introduction of hydrothermal fluids via the fluid pathway provided by the structure. The Hilditch anomaly is located sub‐parallel to a second order splay off the main fault and is continuous over a 1.2km strike length.
The interpreted SW continuation to the Mt Whaleback Fault coincides with the location of the Bondinis Prospect, which is split into two discrete anomalous areas (Figure 2) by an interpreted splay from the Mt Whaleback Fault. Surface mapping has identified Archaen greenstones including gabbros and metaquartzites, however much of the exposures are obscured by transported cover relating to the Western Creek. The importance of the Mt Whaleback fault cannot be overstated as this local structural feature is likely to have significant influence on fluid flow through the Project area.
Figure 2: Hilditch and Bondini Prospects located proximal to the Mt Whaleback Fault zone. Background image TMI RTP
magnetics.
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The Peak Prospect
The soil anomaly at The Peak is characterised by a 2.5km long, +4ppb Au trend that coincides with multiple E‐W structural breaks in the underlying banded‐iron formation (BIF). These structures have been interpreted from the magnetics and are sub‐parallel to observed E‐W foliation seen in the limited BIF outcrop. The surficial cover is widespread across the length of the anomaly however it is not yet known whether the Au response has been generated from a distal source or is reflecting any underlying mineralisation. Rio Tinto Exploration completed 3 holes within the western extents of the anomaly to test for iron ore potential, with the depth of transported cover logged as between 0 and 8m. All drill holes intersected BIF and dolerite lithologies with multiple quartz veins observed however no assaying for gold was completed.
Figure 3: The Peak and Dingo Prospects. Background image of TMI RTP_Tilt
Future Activities
Additional soil sampling is required to further define these targets, with exploration activities to continue in the next quarter. Previous explorer drillholes have been sourced and have been submitted for Au and multi‐element analysis. Drillholes were generally drilled to the base of transported material however many penetrated through this interface to sample the underlying in‐situ geology.
EDJUDINA PROJECT
Octavia Prospect
The Octavia Prospect is located along the Edjudina line of historic workings which strikes NW and includes the recent discovery of the Neta Lode by Gibb River Resources (ASX:GIB). The Edjudina line of working was mined predominantly between 1897 and 1921 with workings
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identified over a strike length of approximately 15km, finishing approximately 1,100m from DiscovEx tenement P31/2126. Transported cover becomes progressively deeper NW of the last recorded working known as Croesus South and is likely one of the main reasons for no prospector activity within the DiscovEx tenement. A total of 405 soil samples were returned within the quarter, highlighting the mineralised corridor before being obscured by transported cover.
Figure 4: Soil sampling results returned from the Octavia Prospect.
In late November, a total of 49 aircore drillholes for 4,403m was completed to test the north‐ western continuation of the Celia Shear from the surface trace of the mineralised shear.
Hornet East and Jaguar Prospects
A regional soil sampling program was completed in late 2021 consisting of 759 samples on 100 x 200m and 100 x 400m spaced patterns. The program was designed to target extensions to soil anomalies generated from previous programs at both the Hornet East and Jaguar Prospects. Samples were sieved to ‐177um prior to being analysed for Au and a suite of multi‐elements. All results are pending.
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Discovex Resources Limited published this content on 12 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2022 21:25:04 UTC.