- Metals Australia (MLS) has identified high-grade gold, copper and silver mineralisation from field work across its Eade, Pontois and Felicie projects
- These projects are located on the prospective Lac Guyer Greenstone Belt in northern Quebec
- Field work focused on a number of exploration targets identified in a previous exploration program
- Metals Australia plans to conduct further exploration and survey work to highlight the main structures and potential high-grade sulphide rich zones
- Company shares are trading flat at 0.3 cents
Metals Australia (MLS) has received results from field exploration work at its Eade, Pontois and Felicie projects in northern Quebec.
Specifically, the projects are situated on the Lac Guyer Greenstone Belt which is an east-west trending greenstone belt that hosts multiple high-grade gold-copper and base metal discoveries.
“This is the first significant exploration campaign that we have completed at the Eade, Pontois and Felicie Projects since we acquired them in late 2019,” Director Gino D’Anna said.
Exploration has identified high-grade gold and copper surface mineralisation as well as widespread anomalous samples over a strike length of 15 kilometres.
At the Eade project, high-grade results include 29.6g/t gold, 3.67g/t gold and 2.56g/t gold. High-grades at the Pontois project include 0.36 per cent copper and 4.52g/t silver, 0.41g/t gold and 0.35g/t gold.
In particular, the Felicie project returned strong results including 4.16g/t gold, 44.10g/t silver, 0.23 per cent copper, 0.62 per cent lead and 1.25 per cent zinc.
These mineralised zones are significant as they lie within a new area with a 180-metre strike length that is open in all directions.
“These projects represent significant exploration upside for the company and until recently had not been explored with modern techniques,” Gino stated.
Metals Australia plans to continue exploration at the Eade, Pontois and Felicie gold projects. This is expected to include an airborne electromagnetic and VTEM survey across all project areas to highlight the main structures and potential high-grade sulphide rich zones.
The airborne survey will enable the company to understand the potential strike length and width extents of mineralised structures.
Company shares are trading flat at 0.3 cents at 1:07 pm AEST.
