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Trigg Minerals report exciting new gold-silver targets in Queensland

2 July 2024 13:59
ASX:TMG

Trigg Minerals Limited (ASX:TMG) has announced promising news from its Drummond epithermal gold-silver project in Northern Queensland. Recent Induced Polarisation (IP) geophysical surveys have identified several new high-priority drill targets.

Trigg’s Drummond Basin Project spans 540km2, and was acquired in November 2023. With help from Global Ore Discovery, Trigg has integrated these new results with historical datasets, providing a comprehensive view of the project area.

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Figure 1: Location of Drummond Basin Project.

Drill Targets Identified

Trigg’s IP surveys were conducted at the SW Limey and Breccia Hill prospects on tenement EPM 18090. Three main drill targets have now been defined for Trigg’s upcoming drilling program.

The SW Limey target located at the southern end of the +4km Limey Trend, previously showed high gold and silver values up to 55 g/t Au and 9 g/t Ag in historical rock chip sampling.

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Figure 2: SW Limey plan (top) and cross sections 10400mN and 10800mN displaying 2D inversion resistivity and chargeability results, targets and proposed drill holes.

Surveys at Limey uncovered strong chargeability and resistivity anomalies, similar to the IP signature of the nearby Pajingo gold deposit. These geophysical targets led to the design of three high-priority drill holes for the upcoming drill program in 2H 2024.

At the Breccia Hill prospect, Trigg’s PDIP survey has identified anomalies indicating deeper ‘feeder’ structures, hinting at the potential for significant mineral deposits. The interpreted feeder structures will be tested during Trigg’s 2H 2024 drill program.

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Figure 3: Breccia Hill plan (top) and cross section 20200mE (bottom) displaying 3D IP resistivity inversion iso-shells and 2D IP chargeability inversion image, targets and proposed drill holes.

Lastly surveys were conducted at Quartz Ridge, where 3D reprocessing of historical IP data revealed a significant anomaly at a key structural intersection, which has not been previously tested by drilling.

Trigg’s drilling program will include at least one hole targeting the resistivity and chargeability anomaly, aiming to uncover mineralised epithermal quartz veining at Quartz Ridge.

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Figure 4: Quartz Ridge plan (top) and plan sections (-75mRL, -150mRL, -250mL) (bottom) displaying 100m thick slices of 3D IP resistivity inversion iso-shells.

Management comments

Trigg’s Executive Chair, Timothy Morrison, emphasised the importance of these findings. “Identifying compelling new high-priority targets at SW Limey, with an IP signature analogous to the nearby world class Pajingo gold deposit validates the thorough approach our team have taken at Drummond.

“Furthermore, potentially identifying newly recognised, well-preserved epithermal quartz vein structures is an exciting discovery that allows us to finalise our targets for the upcoming drill program which will commence as soon as the necessary heritage survey is completed.”

Next Steps

Once the heritage survey is complete, the initial drilling program will focus on testing the highest priority targets at SW Limey, Breccia Hill, and Quartz Ridge. This program is anticipated to commence in the second half of 2024.

TMG’s Australian Security Exchange-listed share price is currently trading at $0.01 (1:45 pm UTC+ 8 hours)

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