Green & Gold Minerals reports compelling high-grade silver alongside gold at Mt Wandoo, boosting the Chillagoe project's resource potential and advancing mining study prospects.
- High-grade silver intercepts accompany strong gold results at Mt Wandoo
- Inferred resource includes 32,400oz gold and 387,000oz silver within granted mining leases
- Exploration highlights new silver targets at Wandoo West and Dingo prospects
- Sentinel drilling reveals gold mineralisation with telluride association, encouraging further work
- Ongoing resource update and toll milling discussions with nearby Mungana processing facility
Exploration Breakthrough at Mt Wandoo
Green & Gold Minerals (ASX – GG1) has delivered an exploration update that shines a spotlight on high-grade silver drill results from its Mt Wandoo prospect, complementing previously reported gold mineralisation. Located within granted mining leases in north Queensland's Chillagoe Gold Project, Mt Wandoo hosts an inferred JORC resource of 32,400 ounces of gold and 387,000 ounces of silver. The recent drilling campaign has extended mineralisation zones and uncovered new silver-rich areas, reinforcing the project's development potential.
Notably, drill hole WBR076 returned an impressive 6 metres at 11.1 grams per tonne (g/t) gold and 281 g/t silver from 38 metres, including a 3-metre interval grading 19.6 g/t gold and 525 g/t silver. These results, alongside other significant intercepts, suggest a robust coexistence of gold and silver mineralisation, particularly in the deposit's central zones.
Silver's Rising Profile and Strategic Review
The recent surge in silver prices has prompted Green & Gold Minerals to reassess silver's role across its exploration portfolio. This includes evaluating silver-dominant targets and the contribution of silver within the existing Mt Wandoo resource. A substantial silver-in-soil anomaly at the Wandoo West prospect, located within the broader Wandoo intrusive complex and just 350 metres from the main resource, is earmarked for further drilling. Historical drilling here did not effectively test these anomalies, leaving open the possibility of additional discoveries.
Encouraging Results at Sentinel and Dingo
Beyond Mt Wandoo, exploration at the Sentinel prospect has revealed gold mineralisation associated with tellurides; a mineralogical indicator often linked to high-grade gold deposits. Drilling extended mineralisation to 11 metres at 0.4 g/t gold, including a narrow 1-metre vein grading 2.0 g/t gold. The presence of bismuth and tellurium alongside gold suggests a fertile hydrothermal system, warranting further drilling along the 650-metre soil anomaly.
Meanwhile, the Dingo prospect has delivered historic drill results featuring 8 metres at 0.75 g/t gold and 264 g/t silver, complemented by rock chips exceeding 1,000 g/t silver. Although recent drilling did not intersect the targeted mineralised porphyry, the prospect remains a compelling stand-alone silver target with further exploration planned.
Advancing Towards Development
Green & Gold Minerals is progressing a resource update expected by the end of the quarter, which will underpin forthcoming mining studies. The company is also in discussions regarding toll milling options at the nearby Mungana processing facility, a modern 600,000 tonne per annum gravity and flotation mill located approximately 12 kilometres from Mt Wandoo. Previous test work at Mungana has demonstrated high recoveries of both gold and silver from Wandoo ore, although no milling agreement is yet in place.
Managing Director Quentin Hill emphasised the significance of the results, noting the combined silver and gold grades enhance the project's economics and growth prospects. He highlighted the strategic importance of silver as a metal linked to electrification and artificial intelligence technologies, underscoring the value of the Chillagoe tenements' silver potential.
Bottom Line?
As Green & Gold Minerals advances its resource update and milling talks, the Chillagoe project’s silver-gold synergy could reshape its development trajectory.
Questions in the middle?
- How will the updated mineral resource estimate impact the project's valuation and development timeline?
- What are the prospects and timelines for finalising a milling agreement with the Mungana facility?
- To what extent can further drilling at Wandoo West, Sentinel, and Dingo expand the silver-dominant resource base?