Core Exploration is to start drilling next week on its Yerelina zinc-lead-silver project on EL 5015, which covers a 1,000km area in northern South Australia.
Core’s diamond drilling program comprises a total of six angled diamond core holes totalling approximately 1000m.
The Yerelina project is highly prospective for shallow base and precious metal mineralisation as evidenced by high grade mineralisation on five separate north-south structures identified by Core.
Assay results also show that high grade mineralisation continues between and beyond the historic mining areas. Of the 38 samples taken along a 1,000m length of fault zone at Great Gladstone, 34 returned combined lead and zinc assays in excess of 10,000ppm and over 1 g/t silver with the best assay at 14.7% zinc. Lead values peaked at 12.7% and silver at 567 g/t.
The fully-cored drill holes are targeted under the known outcropping mineralisation to test, define and better understand grade distribution of four of the mineralised structures identified to date.
The drill core will also provide valuable mineralising and geological information to unlock the interpreted MVT-style "engine room" that is driving good grade mineralisation consistently through a large volume of consistent Proterozoic basin geology over an 8km by 3km area.
Core has been recently awarded a grant of $75,000 as part of the SA Government’s PACE Discovery Drilling 2015 program. Core’s successful proposal for drilling at Yerelina was assessed and ranked against criteria by a panel of government and independent representatives with extensive mining industry experience.
Drilling is expected to take 3-4 weeks to complete. Subsequent to core cutting and sampling, assay results are expected during October.