Transcription of The Stock Network Interview with 49 Metals (ASX:49M), CEO, Phil Carter
Lel Smits: 49 Metals has reported what it believes could be a significant breakthrough at its Gold Mountain project in Nevada’s prolific Walker Lane trend. The result represents the highest grade intercept recorded at Gold Mountain to date. 49 Metals CEO Phil Carter joins me today to discuss the significance of the discovery, what it reveals about the broader Gold Mountain system and also the key catalysts ahead.
Phil, welcome back to the Stock Network.
Phil Carter: Hi Lel, thanks for having me again.
Lel Smits: Now, you’ve just announced the highest grade intercept recorded at Gold Mountain so far. Why do you believe this result could represent really a breakthrough discovery for the project?
Phil Carter: Yeah, we are very pleased to announce some later results at hole nine at Gold Mountain. The hole was drilled in what we call the added zone, which was the location of some historic previous, you know, some shallow underground workings back in the day where they pulled out some pretty high grade gold and silver out of these underground workings. So we drilled sort of below those at the added zone and hit a really high grade structure, you know, 9.1m at 21.9g per tonne and sort of broader interval of 27.4m at 8.3g per tonne gold.
So really, really good numbers. What it means is obviously early days still, potentially we’ve hit one of these sort of feeder zones typical of an epithermal system. So trying to work out what that means bigger picture.
And importantly, in the same hole, hole nine, a bit higher up in the hole, we did hit another zone of mineralisation too, 25.9m at 1.4g. So we know we’ve got repeatable stacked mineralised loads now. It’s obviously really important for big picture and growing the project into the future.
Lel Smits: Yes, and what does this latest discovery tell you about the scale and also the prospectivity of the broader Gold Mountain project?
Phil Carter: Yes, it’s still really early days given we’ve just discovered this really high grade potential feeder zone.
But what’s really encouraging to us is not just the high grade gold, we’ve found elevated levels of all these sort of pathfinding elements typically found in these really hot hydrothermal systems. We’ve got lots of phosphorus, strontium, moly, copper, lead, arsenic, all these really encouraging pathfinding elements, which potentially suggests that this zone is quite proximal to a really hot part of the system. Still early days, but it’s a really promising sign.
Now it’s a matter of hopefully chasing this really high grade zone at depth and seeing what we can find. Additionally, it seems to be located at the contact between two geological units as well, which also could play quite an important part in trapping some of this high grade gold. So still a lot of things to be determined, but yeah, really pleasing start.
Lel Smits: Great. And Phil, you do have follow-up drilling being planned. What should investors you think be really watching out for in the coming months?
Phil Carter: Yeah, we have another three holes in the lab, which we’re waiting back for assays on, two of which are in the added zone, but a little bit further up dip from where we had these results today.
So waiting for those results to come back and obviously planning some additional holes as we speak. The drillers are on site at the moment drilling at our Sealy Ridge target. And then once they’ve finished doing a few holes at that prospect, we’re going to build some pads and get back to the added zone and try and follow this really high grade gold hit.
So yeah, heaps to come over the following months.
Lel Smits: Phil, I appreciate the update from 49Metals and all the best for this very busy period ahead.
Phil Carter: No worries. Thanks, Lel. I’m looking forward to it.
Ends