PLC Resources Identifies New Gold Mineralised System at Rochefort Prospect in Western Australia
Key Takeaways
- •Three of five holes in PLC Resources' maiden RC drilling program at Rochefort intersected anomalous gold up to 0.4 g/t within highly fractionated dolerites accompanied by albite alteration and sulphidation.
- •Geochemical analysis indicates a significant gold mineralised system may be located northwest of the current drilling area at the Abbotts North project in Western Australia's Murchison mineral province.
- •Heritage and environmental approvals are already in place, enabling prompt commencement of follow-up drilling at the northwest target.
- •PLC Resources is fully funded to drill both the Rochefort northwest target and a newly discovered regional syncline fold structure to the south located along strike from several New Murchison prospects.
- •The company drilled a total of five RC holes for 1,020 metres, with pathfinder element trends strengthening toward the northwest and at depth, suggesting the drilling may have tested the edge of a larger gold system.
PLC Resources (ASX:PLC) is accelerating plans for its next phase of drilling after a reverse circulation (RC) program at the Rochefort gold prospect in Western Australia identified a new structural corridor extending toward historical gold targets.
Assay results from the company's maiden reconnaissance drilling program at Rochefort, situated within the Abbotts North gold project in WA's Murchison mineral province — a district that hosts multiple operating and historical gold mines — revealed that three of the five holes intersected highly fractionated dolerites and anomalous gold associated with albite alteration, sulphidation, and pathfinder element anomalism. These geological signatures are consistent with alteration styles recognised in gold systems across the Yilgarn Craton's greenstone belts.
Analysis of the results and pathfinder geochemical signatures indicates that a significant mineralised system may be located proximal to and northwest of the current drilling area.
Managing Director Simon Phillips said follow-up drilling is currently being planned, with heritage and environmental approvals already in place to allow for prompt commencement.
"The reconnaissance drilling has successfully delivered a pathway to a potential new gold system located northwest and nearby to the completed drill program," Mr Phillips said.
"We've confirmed the right host rock, being highly fractionated dolerites, together with the alteration, sulphidation and pathfinder element trends, which all strengthen to the north-west and at depth, are strong signals that indicate we may have drilled on the edge of a significant gold mineralised system. Importantly, it is a target we can drill again quickly under our existing approvals."
Mr Phillips told shareholders that PLC is fully funded to drill this target as well as its newly discovered regional syncline fold structure to the south, located along strike from several New Murchison prospects, including the Crown Prince deposit.
"For shareholders, that gives Abbotts North clear opportunities for discovery: near-term follow-up drilling at Rochefort, and a growing pipeline of regional targets to test as our interpretation matures. We have a clear and exciting path forward."
A total of five RC holes were drilled for a combined 1,020 metres during the recent program at the Rochefort prospect. Drilling intersected sedimentary and mafic units, including highly fractionated dolerite consistent with the unit previously identified in surface rock chip sampling. Anomalous gold grading up to 0.4 grams per tonne (g/t) was intersected in three of the five holes.
With the next drilling phase ready to commence pending scheduling, the upcoming assay results from follow-up holes targeting the northwest zone will be a key indicator of whether the Rochefort system holds economic potential.
PLC shares remained steady at 0.7¢, with a market capitalisation of $6.633 million.