ACTIVEX has announced a maiden inferred mineral resource for its Barambah gold-silver deposit, located in the Esk Basin in southeast Queensland.
The project has a total inferred resource of 363,000 tonnes at 1.47 grams per tonne gold and 61.8gpt silver for a contained 17,200 ounces of gold and 722,000oz silver.
Of this, 237,000t are contained in oxide at 1.69gpt gold and 56.7gpt silver for 12,900oz gold and 433,000oz silver; while the primary resource measures 126,000t at 1.06gpt gold and 71.4gpt silver for 4300oz gold and 289,000oz silver.
The estimate is the result of 76 drill holes comprising of 29 reverse circulation holes, seven combined RC/diamond holes and 40 diamond drill holes for a total of 7658m.
Mineralisation is contained in a number of veins, with the heaviest ranging from 0.5-1.5m in width and outcropping over a 2km distance.
The vein has an average strike of 330 degrees and a variable steep dip greater than 75 degrees to the southwest or northeast.
ActivEX is currently investigating near-surface mineralised zones for potential open pits.
It will use an $A85,000 grant received under the Queensland government's Collaborative Drilling Initiative in September last year to fund the drilling of four further diamond drill holes.
These holes are planned to measure a combined 1600m in length, and extend the drill testing of the mineralised zone by targeting a large geophysical anomaly identified through previous testing.
Shares in ActivEX were untraded today at 1.9c.