Uncovering Gold: Lanthanein Resources’ Diamond Drill Bit Spins at Mt. Holland’s Lady Grey Prospect
Description:
Lanthanein Resources Ltd (ASX:LNR, OTC:FRNRF) has kicked off diamond drilling at its Lady Grey Project at Mt Holland in Western Australia’s Yilgarn Craton. The Lady Grey gold prospect is adjacent to the historic Bounty Gold Mine which produced some 1.3 million ounces of gold on Covalent Lithium’s Mount Holland mine site. This is the second phase of the drilling program, testing the modelled conductor plate under modelled moving loop EM (MLEM) survey line #6. The modelled conductor plate under MLEM Line #6 is 200 metres below surface and dips to the east, and is being drilled from the existing historical access road which links the old Lady Ada mine and the Marvel Loch Forrestania Road. Drill testing will consist of the three reverse circulation (RC) precollars, previously completed to a maximum of 150 metres, with diamond tail drill holes as seen here: Modelled Conductor Plate (in Red) with Drill Holes Traces (in Blue) superimposed on Google Earth image and cross section below. Drilling of the first diamond tail into the MLEM conductor plate under EM line #6 is now underway. “Once again we are really excited to finally get the diamond bit spinning on the diamond tails testing the modelled EM conductor plate under Line #6 which coincides with a 75ppb Ultrafine (UFF) soil gold anomaly,” Lanthanein technical director Brian Thomas said. “We continue to liaise with DEMIRS on the PoW to enable drill testing of the much higher ranking EM conductor plate under Line #1 which coincides with the 256 ppb gold UFF soil anomaly with the flora and fauna survey report lodged with DEMIRS and the on ground heritage survey by Ballardong Aboriginal Corporation and their heritage consultants now complete.” Traditional Owners from the Ballardong Aboriginal Corporation with the assistance of their heritage consultants have carried out the on-ground heritage avoidance survey for MLEM Line #1 access track and drill line. Lady Grey Project tenement E77/2143 outline (yellow), approved PoW Drill Line (white) and drill hole traces (blue), Heritage Survey Lines (white) a Google Earth satellite photo image.
How it Will Affect Me:
Investing in Lanthanein Resources Ltd may prove to be a lucrative opportunity for those interested in the mining and exploration industry. The successful diamond drilling at the Lady Grey Project could potentially lead to the discovery of significant gold deposits, which could result in a rise in the company’s stock value. For shareholders and investors, this exploration could represent a promising investment opportunity with the potential for high returns.
How it Will Affect the World:
The exploration and potential discovery of gold deposits at the Lady Grey Project could have larger implications for the global mining industry. A significant discovery may contribute to increased gold production, impacting the global supply of the precious metal. This could affect gold prices in the market, influencing various industries that rely on gold as a key component in their products or operations. Additionally, the successful exploration and mining operations could create jobs and stimulate economic growth in the region and beyond.
Conclusion:
The ongoing diamond drilling at the Lady Grey Project represents a significant development for Lanthanein Resources Ltd and the mining industry as a whole. The exploration has the potential to uncover valuable gold deposits, benefiting both the company and the global market. Investors and stakeholders keen on the mining sector may find this project an attractive opportunity, while the broader implications of a successful discovery could have far-reaching effects on the world economy and gold market.
