E79 Gold Uncovers 40+ Drill Targets at Cue Gold Project
E79 Gold Mines has identified over 40 promising drill targets at its Cue Gold Project in Western Australia following a detailed gravity survey, setting the stage for upcoming exploration.
- Over 40 drill targets defined from high-resolution gravity survey
- 12 high-priority targets located in Great Fingall Dolerite and Meekatharra Formation
- Cue Gold Project adjacent to historically rich Great Fingall Gold Mine
- Drill planning underway pending heritage clearances
- Potential for high-grade gold mineralisation comparable to nearby mines
Gravity Survey Sparks New Exploration Opportunities
E79 Gold Mines Limited (ASX, E79) has announced a significant advancement in its exploration efforts at the Cue Gold Project, located in Western Australia's prolific Murchison Gold Province. A recently completed high-resolution ground gravity survey has revealed over 40 potential drill targets, with 12 identified as high priority. This development marks a crucial step forward in unlocking the project's gold potential.
Strategic Geological Insights
The gravity survey has expanded the known extent of the Great Fingall Dolerite within the project area, a rock unit renowned for hosting high-grade gold mineralisation. This dolerite is the host to the nearby Great Fingall Gold Mine, which historically produced 1.2 million ounces of gold at an impressive average grade of 19.2 grams per tonne. Additionally, the survey highlighted promising targets within the Meekatharra Formation, where complex structural features and potential intrusions suggest fertile ground for gold deposits.
Priority Targets and Historical Context
Among the 12 high-priority targets, five lie within the Great Fingall Dolerite, including the Riptide Prospect, which has shown encouraging shallow gold anomalies in past drilling. Another five targets are situated within the Meekatharra greenstone belt, featuring significant gravity anomalies that align with structural trends favourable for gold mineralisation. Two additional targets in the eastern part of the project area correspond to geological sequences confirmed by drilling to include sediments and intermediate rocks, with historical intersections such as 4 metres at 4.4 grams per tonne gold at the MBA23 prospect.
Next Steps and Market Implications
E79 Gold is now progressing towards drill planning, with heritage clearances being sought to enable field activities. The company’s CEO, Ned Summerhayes, expressed optimism about the survey results, emphasising the enhanced potential of the Cue Gold Project and the anticipation of commencing drilling soon. This exploration phase could prove pivotal in defining new high-grade gold resources in a region already known for its rich deposits.
Bottom Line?
E79 Gold’s gravity survey sets the stage for a potentially transformative drilling campaign at Cue.
Questions in the middle?
- When will drilling commence following heritage clearance approvals?
- What are the expected timelines for assay results from the initial drill program?
- How might these new targets compare in scale and grade to nearby historic mines?
