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Dundas Minerals Report Significant Gold Soil Anomalies at Olympia & Baden-Powell North

25 October 2023 09:38
ASX: DUN
Dundas Minerals Gold Anomalies

Dundas Minerals Limited (ASX: DUN) has unveiled significant gold soil anomalies at the Olympia and Baden-Powell North prospects, characterised by substantial peak values of gold, antimony, and arsenic.

The anomalies were discovered following a comprehensive multi-element assay during a first-pass auger soil sampling program, conducted in September, in areas where historical drilling activity has been scarce.

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Figure 1: Olympia and Baden-Powell North gold anomalies over interpreted bed-rock geology within the Baden-Powell project area

A 1.2km Gold Anomaly

At the Olympia prospect, an extensive gold anomaly stretching 1.2 kilometres in length and 600 metres in width has been revealed. This anomaly was identified through three lines of auger sampling, each spaced 600 metres apart, and stands out due to peak gold values of 128ppb and 113ppb.

Notably, this area is also characterised by coincident anomalous arsenic (As) and antimony (Sb) values, measuring 176ppm and 2.17ppm, respectively, within the same gold anomaly zone.

This geological feature is situated within the Bent Tree Basalt, at the contact point with the Mt. Pleasant Gabbro and Victorious Basalt.

Interestingly, it was first identified by Horizon Minerals Ltd in 2017. While Horizon conducted some drilling at Olympia, most of their holes were located west or south of the peak anomalies now revealed by Dundas Minerals. This raises the question of what further exploration might unveil.

A Narrow Yet Promising Anomaly

The Baden-Powell North prospect offers a narrower, yet promising anomaly that trends NNW-SSE for two kilometres. This anomaly is found within an ultramafic unit, intruded by felsic to intermediate porphyries.

The presence of the small Baden-Powell open pit (trial pit) and numerous historic workings to the northwest, including Madam Kelly, adds to the site’s appeal.

Peak gold values within this anomaly are notably impressive, with values of 198ppb, 81ppb, 78ppb, and 60ppb against a background of approximately 7 ppb.

Furthermore, the anomaly contains anomalous As values of 69ppm and 66ppm, along with an anomalous Sb value of 2.09ppm, adding depth to the exploration potential.

Auger Soil Sampling Program

The promising discoveries at Olympia and Baden-Powell North are the result of Dundas Minerals’ rigorous soil sampling program.

Soil samples were obtained at a depth of 1.5 metres using a 4-wheel-drive mounted auger rig, aligned on lines oriented approximately southwest-northeast, perpendicular to the regolith strike. The program covered 757 samples, which were assayed for a suite of 33 elements, including gold and gold pathfinder elements.

Future Plans

Dundas Minerals is actively engaged with independent consultants to plan the next phase of exploration at Olympia and Baden-Powell North. This might involve additional soil sampling on closer spaced lines and potential drilling, with specific details to be disclosed once plans are solidified.

Furthermore, Dundas Minerals is eagerly awaiting the results from its soil sampling program at the Windanya Project, located approximately 10 kilometres south of Baden-Powell.

You can view the Company announcement video here.

DUN’s Australian Stock Exchange-listed share price is currently trading at $0.058 today (9.30 am UTC+ 8 hours).

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