Assay results from the first 7 RC holes of the maiden drilling program at the Bunyip gold prospect on the Drummond Epithermal Gold Project confirm the presence of significant gold mineralisation at depth.

Bunyip - a new Pajingo style gold discovery

Assay results for the first 7 holes of a plannd 25 hole drilling program at the Bunyip epithermal gold prospect include several significant grade gold intervals. These include:

  • 2 metres at 4.36g/t gold from 8 metres in BUNR001;
  • 2 metres at 1.66g/t gold from 13 metres in BUNRC002;
  • 1 metre at 2.32g/t gold from 61 metres in BUNRC004; and
  • 4 metres at 5.15g/t gold from 7 metres in BUNRC005.

The style of mineralisation discovered is the same as the nearby Pajingo (>3Moz) and Wirralie (1.1Moz) gold deposits.

As of 20 March 2018, a total of 16 holes had been completed for 1,174 metres with every one of the holes intersecting quartz veining, with a maximum downhole vein width of 6 metres.

Drilling is contining with further batches of samples now delivered to the commerical laboratory for analysis. These assay results are anticipated to be released in early April.

Andromeda Metals' objective with this maiden drilling program is to confirm whether Bunyip might represent a significant new Drummond Basin gold discovery, and these first resuls are seen as a highly encouraging step in satisfying that objective.

The assay results and the geological observations made so far indicate that Bunyip is an epithermal mineral system of substantial size which contains numerous quartz veins, some of which appear to be of significant width. Alteration and sulphide development is widespread and the mineral system is confirmed to host significant grades and widths of gold mineralisation in places.

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Overview

Andromeda Metals Limited is an Australian Securities Exchange listed company (code: ADN) focusing on mineral exploration for gold, lithium and copper deposits. Andromeda Metals currently has interests in 21 exploration licenses, covering 7,969 sq kms within South Australia, Queensland, Western Australia and the Northern Territory. Andromeda Metals’ vision is to be a sustainable minerals exploration company providing shareholders with risk managed discovery, development and mining opportunities.

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