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Trigg Minerals’ Transition to Gold Yields Early Success in Drummond Basin Venture

23 January 2024 12:57

Trigg Minerals Limited (ASX: TMG) has achieved a significant milestone in its Drummond Basin Gold Project, partnering with Global Ore Discovery Pty Ltd to identify multiple epithermal gold targets, a crucial step in the pursuit of world-class deposits in North Queensland’s gold-rich region.

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Figure 1: Trigg Minerals Drummond Project including BOA permits

Data Compilation

Trigg, in collaboration with Global Ore, undertook a comprehensive data review process to gather crucial information for the Drummond Basin Project.

This included the acquisition of historical exploration and open-file datasets, covering surface geochemistry, drilling, geophysics, and surface geology. The conversion of historic reports to digital formats facilitated the extraction of valuable data, exploration rationales, and potential targets.

High-priority gold targets identified during this process include Breccia Hill, Bunyip, Quartz Ridge, Limey Trend, Buried Hatchet, and Charlie’s Mine.

As the work progresses, additional priority targets are expected to emerge, reinforcing the prospectivity of the Drummond Basin.

Holistic Mineral System Targeting

Surface geochemistry, geology, and drilling data from historical exploration and open-file sources were compiled, analysed, and modelled within a holistic mineral system targeting framework.

This approach aids in ranking and prioritising identified epithermal gold targets. Soil sampling data from multiple campaigns were statistically analysed to define epithermal gold system indicators, while rock chip and stream sediment sampling data continue to undergo analysis and modelling.

Integration of Geological Datasets

The integration of historical government airborne and surface geophysics, including magnetics, radiometric, and hyperspectral surveys, has allowed for the identification of large-scale alteration and mineral system indicators.

The combined datasets are being integrated, analysed, synthesised, and visualised in 2D/3D software. This sophisticated analysis, coupled with mineral system thinking, has enabled Trigg and Global Ore to define and prioritise multiple epithermal gold systems, drawing parallels with regional multi-million ounce gold deposit analogues.

Exploration Potential

Initial analysis of data collected during sampling and mapping campaigns revealed key epithermal gold vein textures, such as colloform and crustiform banding, carbonate replacement textures, and sinters. These textures strongly support the potential for the Drummond Basin Project to host world-class epithermal gold deposits, heightening the excitement surrounding Trigg’s exploration efforts.

Acquisition of New Licence Areas

In parallel with the ongoing project activities, Trigg is finalising the acquisition of 90% interests in four new license areas totalling 431km2 in northern Queensland from Boadicea Resources (ASX: BOA).

These new tenements, including Clarke Reward, Mt Carmel, West Ravenswood, and Bosworth, position Trigg as a prominent gold explorer in the Drummond Basin-Charters Towers region.

Next Steps

Looking ahead, Trigg, in collaboration with Global Ore, is planning geophysical programs to guide the final design of the drilling program.

Emphasising priority targets, the Company is currently soliciting tenders from local drilling firms, anticipating commencement in late Q1 or early Q2, contingent on weather conditions.

Simultaneously, ongoing statistical analysis and modelling of historical exploration data aim to identify and prioritise additional targets for future testing.

Management Commentary

Chairman Timothy Morrison expressed optimism about the Project’s progress, emphasising the significance of the desktop work in identifying high-value targets.

“While summer weather events in northern Queensland impacted TMG’s plans to commence site work in the Drummond Basin, I am pleased to report that significant desktop work has continued to advance the project. Working on the extensive historical database as part of the acquisition of the Drummond assets has enabled TMG to identify high-value targets across the project area,” he said.

“As this work continues, we are now looking to hit the ground running and are planning a drilling program to test these targets to potentially commence later this quarter.”

“In parallel, we also continue to finalise the transaction with Boadicea which expands our footprint in the region in two areas well known for their epithermal and intrusive-related gold mineralisation.”

TMG’s Australian Securities Exchange-listed share price has risen 11.11% and is currently trading at $0.010 (12.45pm UTC+ 8 hours).

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