Core Exploration announced that drilling has started on the company’s Yerelina zinc-lead-silver project on EL 5015, which covers a 1,000km area in northern South Australia.
The diamond drilling is targeted under the outcropping high grade mineralisation identified at a number of prospects including Great Gladstone and Big Hill at Yerelina. Core’s diamond drilling program will be the first drilling in this region to test these targets.
Core’s diamond drilling program comprises a total of six angled diamond core holes totalling approximately 1000m. The angled diamond core holes are targeting beneath mineralised breccia and surface gossans hosted within fault zones interpreted to be up to 1.5km long.
The Yerelina project is highly prospective for shallow and potentially deeper base and precious metal mineralisation as evidenced by high grade mineralisation and historic mine workings within repeated structures identified by Core to date over an 8km by 3km area.
Core’s analysis of modern satellite imagery and the Company’s detailed heli-borne magnetic and radiometric survey data have identified that these mineralised structures are part of a large scale system of repeated north/south regional faults.
The drill core will also provide valuable information to unlock and target the interpreted MVT-style "engine room" that is driving good grade mineralisation consistently through a large volume of consistent 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.