Reach share price surges 29pc on shallow WA | Australian Markets

Attain Assets’ share price surged up 29 per cent this morning to 1.8 cents per share, some 125pc up on this time final week, after the company unveiled initial drilling outcomes from its Murchison South gold project in Western Australia.

The primary two reverse circulation (RC) drill holes intersected shallow high-grade gold, together with an spectacular 41-metre part grading 2.01 grams per tonne (g/t) that began instantly from floor. The intercept included a higher-grade 5m part of 10.01g/t from 36m.

This system comprised 14 RC holes for 1463m of drilling, which was targeted on validating historic information whereas refining a new mineralisation model for the Murchison South project’s Blue Heaven deposit, within the scorching property Murchison gold area.

Attain says the outcomes verify its up to date mineralisation model that gold-bearing quartz veins host the intercepts and stay open at depth, supporting useful resource growth alternatives.

The company expects assay outcomes from the remaining 12 drill holes subsequent week. The findings will information upcoming useful resource definition work.

These implausible initial outcomes give us a great begin in the direction of validation of the historic drilling and useful resource model at our Blue Heaven deposit. We now have hit some high-grade shallow gold intervals, which align with the model, which could be very encouraging, and we now eagerly await assays from the remaining 12 holes so we are able to get a full understanding of our project.

The Murchison South project is shaping up to be a growing precedence for Attain, complementing its important minerals portfolio that spans lithium, uncommon earths, niobium and manganese. Whereas traditionally seen as a secondary asset, the project has gained renewed significance amid hovering gold costs, which not too long ago surged to unheard of highs previous $4600 per ounce.

Attain’s project sits close to Paynes Discover, about 430km northeast of Perth, which options a high-grade inferred mineral useful resource of 1.035 million tonnes at 3.2g/t gold for 105,000 ounces. Paynes Discover has a higher-grade part of 582,000t at 4.7g/t for 87,000 ounces.

The project, previously often known as the Primrose gold project, not too long ago underwent in-house and impartial opinions of its gold mineralisation controls. The review uncovered gaps within the useful resource block model and opened-up the project’s Blue Heaven prospect for added, doubtlessly close-to-surface useful resource growth.

Attain says along with upcoming drill outcomes, it plans to undertake metallurgical testing to evaluate the deposit’s processing potential, technical evaluation to help pit design optimisations earlier than additional negotiations with mining contractors and close by processing services.

A number of gold mills are within trucking distance of the project, offering Attain with the chance to monetise its asset at right this moment’s roaring gold price.

Because the company awaits additional assays, the sturdy early outcomes at Blue Heaven point out Attain may very well be sitting on a considerably expanded gold useful resource which may quickly be monetised in a more than 15-million-ounce gold area which has the market completely buzzing.

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