iTech Minerals has successfully extended the second gold vein at its Sabre site, with final analysis revealing an expanded section of 29 meters at 2.36 grams per ton of gold starting at 81 meters deep. This improvement surpasses the previously reported 21 meters at 2.04 grams per ton, strengthening the company’s plans to explore deeper deposits at the Reynolds Range project in the Northern Territory.
The deepest drilling into the second vein yielded 10 meters at 2.17 grams per ton of gold from 162 meters down, replacing an earlier single-meter finding of 5.77 grams per ton. Another borehole uncovered a new segment of 8 meters at 0.83 grams per ton beginning at 48 meters.
Wider Discoveries and Upcoming Drilling
Mike Schwarz, managing director of iTech Minerals, stated that the final analysis has heightened enthusiasm about the second vein’s prospects. The area between the two primary veins remains untested below 120 meters, presenting a significant opportunity to extend the mineralisation at depth, establish continuity between the two shoots and potentially build a much larger gold system at Sabre.
The company interprets the shoots as higher-grade zones along a single controlling shear. Drilling between them reaches only about 120 meters below surface, compared with at least 270 meters at Shoot 1. Testing that deeper ground could help establish whether gold mineralisation connects the shoots and continues beneath them. Notably, the recent findings stem from composite samples of 2 to 5 meters, filling gaps around earlier one-metre samples and extending the main intercepts.
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In the borehole with the 29-meter segment, mineralisation extends across most of its length, totalling a broad interval of 98 meters at 1.06 grams per ton of gold starting at 12 meters. This includes 53 meters of material below 0.5 grams per ton of gold. All reported lengths are downhole intervals, with true widths yet to be established.
Market Trends and Future Steps
Gold’s role as a reserve diversifier and protection against inflation and geopolitical risk continues to support demand. The World Gold Council reported first-half demand of 2522 tonnes, including over-the-counter activity, up 2% year-on-year. Supply remained broadly flat in the June quarter. Mine production rose 2%, but recycling fell 6%. Gold averaged US$4506/oz in the June quarter, 37% above a year earlier, before finishing September at US$4176/oz after an 8.5% monthly decline.
iTech Minerals’ next phase involves diamond drilling from mid-November, initially targeting Shoot 1 between 300 and 400 meters below surface. The company also plans to test Shoot 2 at depth and along strike, drill the shear between the shoots and assay individual one-metre samples from mineralised composites.
iTech Minerals retains all gold and antimony rights across Reynolds Range’s 791km² tenure, north-northwest of Alice Springs. The company also awaits results from recent drilling at the Falchion prospect. This article was developed in collaboration with iTech Minerals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
