NewsStocksDaly Resources expands Huckitta fluorite footprint with new rock chip and soil results

Daly Resources expands Huckitta fluorite footprint with new rock chip and soil results

Author: The Market Online Australia·

Key Takeaways

  • •New rock chip sampling at Huckitta returned grades of up to 73.98% calcium fluoride from a previously unidentified outcrop within the eastern priority target area.
  • •A soil sampling program of 148 samples along two parallel east-west traverse lines defined a coherent anomalous CaF2-in-soil zone extending at least 1km of strike in an area of poor outcrop.
  • •Executive chairman Mike Edwards said the soil geochemistry indicates the fluorite veins may continue north beneath cover, beyond the currently mapped surface expression.
  • •Historical work identified multiple fluorite-bearing veins over more than 400m of strike within an 8km vein corridor, including grades up to 95.1% CaF2 and a drill intersection of 6.1m at 35.1% CaF2.
  • •DLY shares were unchanged at 15.0c, with a market capitalisation of $13.65 million.
Daly Resources expands Huckitta fluorite footprint with new rock chip and soil results

Daly Resources (ASX: DLY) has confirmed an expanded fluorite mineralisation footprint in the eastern priority target area at the Huckitta project in the Northern Territory, following new rock chip and soil geochemistry results.

The eastern priority target area was first outlined by historical rock-chip sampling, which identified multiple fluorite-bearing veins extending more than 400m in strike length within an eight km-long vein corridor. Those historical results included grades of up to 95.1% calcium fluoride (CaF2), while a historical drill hole intersected 6.1m at 35.1% CaF2.

The company said its latest rock-chip and soil sampling is further defining the target area and supporting follow-up work beneath areas of cover. That matters because the current surface expression is only part of the broader exploration picture, and the company is using the new field data to narrow where future drilling could be focused.

New rock chip sampling returned additional high-grade results of up to 73.98% CaF2 from a previously unidentified outcrop within the eastern priority target area.

At the same time, Daly’s soil geochemistry program identified anomalous soil fluorine on both traverse lines, including in covered areas north of the currently mapped vein outcrops.

Executive chairman Mike Edwards said the results support the interpretation that the fluorite system may continue beneath younger cover.

“These results support our view of Huckitta’s potential, with the soil geochemistry pointing to these fluorite veins potentially continuing north beneath cover, beyond what we can currently see at surface,” he said.

“Having boots on the ground has been valuable in testing this idea, with detailed field work identifying additional prospective vein structures that don’t outcrop at surface. This reflects our broader approach at Huckitta — building a picture of the project’s overall potential while progressively focusing on the areas that emerge as highest priority.

“The airborne geophysics is now adding another layer of information that complements what we’re seeing in the geochemistry, helping us better understand how this mineralisation is distributed. Together, these results will help guide our next phase of exploration and the definition of targets for drilling.”

The soil sampling program included 148 samples collected along two parallel east-west traverse lines, about 400m apart. The longest line extends for around 5.8km of strike across the eastern priority target area.

At the western end of the southern line, the results define a coherent, continuous zone of anomalous CaF2-in-soil geochemistry extending for at least 1km of strike in an area where outcrop is poor and fluorite rock chips have only been possible to collect along creek incisions.

Daly said a team is currently on the ground investigating this area in detail, with a particular focus on creeks and incised drainage channels where fluorite-bearing bedrock may be exposed through younger cover. The work has identified additional fluorite-bearing structures in creek exposures that are obscured by cover away from the drainage channels.

DLY was steady at 15.0c. Market capitalisation was $13.65 million.

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