According to foreign media reports, the latest sample analysis results of private company Chuanshi Resources Company (Transition Resources) 's green field drilling in Queensland show that there may be a gold-rich mineralization zone with billions of tons of ore in (Highway Corridor) of Haiwei Corridor.
Because there is only a small amount of evidence, the results are largely the result of model analysis, but drilling in a very small area over the past year has confirmed this judgment.
The Haiwei Corridor is a previously unknown mineral belt, 21 kilometers long, with both gold and other key metals such as tungsten, cobalt and rare earths.
The main mineralization results of sample analysis include:
The ore is seen at a depth of 31 meters, with a gold grade of 9.58 grams / ton.
The ore is seen at a depth of 35 meters, with a gold grade of 10.3 grams / ton.
The ore is seen at a depth of 76 meters, with a gold grade of 10.4 grams / ton.
The ore is seen at a depth of 63 meters and the gold grade is 6.92 grams / ton.
The main mineralization of tungsten shows that the ore is 22 meters deep at a depth of 152 meters, with a grade of 0.6%, including mineralization with a thickness of 8 meters and a grade of 1.6%.
Although sample analysis of other elements has not yet been completed, David Wilson (David Wilson), founder and chief executive of Chuanshi Resources, said the highest grade was 0.39 per cent for cobalt and 0.0746 per cent for praseodymium and neodymium.
Although drilling has so far been limited to a small area and a large amount of investment is needed to obtain resources, the company finds the discovery of the Haiwei ore belt exciting.
The company believes that the ore belt is a real green space discovery in Cronkeri area and will bring new ideas for exploration in this area.
Because of the caprock, there has never been any mining activity in the area in history, even if it is close to the existing infrastructure.
In the past year, Chuanshi has completed 22000-meter drilling, mostly confined to a belt that is 650m long.
Although cash resources provide the company with the opportunity to achieve rapid cash flow through small-scale mining, Chuanshi is more interested in the potential of copper and rare earths in the area.
In the near future, the company will start drilling for the discovered rare earth deposits and King Kong drilling for deep geophysical targets.
