Transcription of The Stock Network Interview with 49 Metals (ASX:49M), Managing Director Phil Carter
Lel Smits: Gold and Silver Explorer 49 Medals is fast-tracking follow-up drilling at Gold Mountain in Nevada with a 3,500-metre program scheduled for October. The program will expand and infill the added zone building on a maiden campaign where all 22 holes intersected gold and or silver mineralisation and identified broad system with multiple higher-grade structures. I’m joined today by 49 Medals Managing Director Phil Carter to discuss the next phase of drilling and Gold Mountain’s growth potential.
Phil, welcome back to the Stock Network.
Phil Carter: Hi Lel, thanks for having me again.
Lel Smits: Pleasure to have you on after another set of results and looking at expanding the added zone.
The October program will step out from the added zone while infilling key areas. What are you looking to establish with this next phase of drilling?
Phil Carter: Yeah, so the maiden program that we finished a few months ago really changed our understanding of Gold Mountain but more specifically the added zone discovery really showed that we weren’t really looking for these sort of discrete high-grade structures. We’ve now discovered what we think is a much broader mineralised system containing multiple high-grade zones.
So this next program is really about building on the added zone discovery, stepping it along strike down dip and see if we can expand the system. Also infilling some of the existing drilling that we’ve done just to better understand the continuity of some of the mineralisation we’ve found. We also want to improve obviously our understanding of these sort of high-grade structures.
You know we fit what we believe is the plumbing system of the project, a whole lot of a whole nine where we get 27 meters at eight grams gold and including nine meters at 22 grams gold. So we want to follow up that sort of high-grade structure and to understand the geometry and continuation of that high-grade zone.
Lel Smits: Yes and in terms of testing that broader system Phil, the Maiden campaign identified a broad mineralised system with multiple higher-grade structures.
What do you think this next drilling campaign may reveal about Gold Mountain’s scale and also the continuity there?
Phil Carter: Yes the scale is probably the biggest question we’re looking to answer now. We sort of we won’t we won’t know how quite big it is after this campaign but definitely looking to expand it from what we know now. So very encouraged by our first program as I mentioned before you know 22 holes out of our 22 holes all return gold and silver.
So now it’s a matter of working out you know how much gold do we have particularly at the added zone. So the system is open you know our thickest interval to date was 170 meters at 0.9 grams gold and that came in our last hole, hole 22 and there’s no drilling at all to the east of that hole. So that’s a really important target to follow up and prove that sort of really broad thick you know zones of mineralization can continue out to the east and to the east and prove you know a large area to focus on that we can add some ounces in.
Lel Smits: Yes and finally Phil in terms of an outlook you’ve got the drilling of course starting October assays expected progressively thereafter. What are your other priorities really as FY27 progresses?
Phil Carter: Yes so Gold Mountain is clearly going to be our priority. I think given the the success so far like I mentioned all the holes so far have come back with mineralisation.
So Gold Mountain will maintain as our priority project. We’re just going to keep drilling this in a methodical way. So we’ll do this drilling campaign to three and a half thousand meters or so.
Get the assays back you know by sort of you know January next year. Understand what we’re working towards. Build up another drilling program and keep expanding, keep drilling Gold Mountain.
Hopefully we can see how big this is. You know we’ve got an eye on the background of developing a resource at the added zone. Now whether we’re too early or not we’re still trying to work through the numbers now.
But you know particularly after this next drilling campaign we should have a really good idea of what we’re sitting on. And you know who knows next this time next year we could be could be talking about a resource in the ground.
Lel Smits: Certainly hope so but for now thank you Phil for the update from 49 Medals.
Phil Carter: No worries thanks Lel.
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