Transcription of The Stock Network Interview with 49 Metals (ASX:49M), President and CEO Phil Carter
Lel Smits: 49 Metals has reported strong maiden drilling results from its Gold Mountain project in Nevada’s Walker Lane trend, with all first eight holes intersecting gold and or silver mineralisation. With drilling ongoing and more assays pending, Gold Mountain is emerging as a promising multi-zone gold-silver system in one of the world’s leading precious metals regions. I’m joined today by CEO Phil Carter to discuss the significance of the results, what they mean for the broader project and also upcoming catalysts.
Phil, welcome back to the Stock Network.
Phil Carter: Hi, Lel, good to be here again, thanks.
Lel Smits: Now, the first eight drill holes all return gold and or silver mineralisation, including high-grade hits at Monte Cristo.
Why are these really early results so important for Gold Mountain’s discovery potential?
Phil Carter: Yeah, look, we’re really pleased with the results so far, Lel. Firstly, the fact that each hole returned mineralisation, which shows our drill targeting is working, targeting these sort of high-grade structures. So that’s the first point.
Secondly, they guide us on what areas to focus on for future campaigns. So, you know, we really like hole eight, what we call the added zone. We get sort of broad mineralisation of sort of 30 metres with, you know, a high-grade structure within that, which is the kind of mineralisation we’re looking for at Gold Mountain.
So that’s really encouraging. It’s only the first hole in the added area. So we’ve drilled another four holes there, sorry, three holes there, and results to come from those holes shortly.
Lel Smits: Fantastic. And as you mentioned, the results from Monte Cristo, the added zone and the IP target area all return mineralisation. What does this suggest about the overall scale of the Gold Mountain system?
Phil Carter: Yeah, so the fact that we hit mineralisation in all three of those targets, and those three targets are actually quite spread out on our project.
So the fact we hit, you know, silver and gold in all those holes, it really suggests that it is a big system at play. And more significant than that is the alteration pattern we’ve found in each of those holes. We’ve identified both visually and geochemically.
Again, it does confirm the fact that we are dealing with a very large epithermal system here at Gold Mountain, multiple overprinting events. And this is really encouraging because these big epithermal systems in Nevada, they do generally have this exact same type of alteration patterns and overprinting events. And the fact that we’ve got the same kind of mineralisation and alteration styles is really positive for, you know, blue sky potential of Gold Mountain.
Lel Smits: Fantastic. And Phil, of course, you have recently just listed, you’ve got drilling continuing, assays pending from additional holes. What are the key milestones and news flow really coming up next that investors should be watching over the coming months?
Phil Carter: Yeah, so like you mentioned, we’ve got three holes in the lab right now.
And obviously, we’ve got drilled a couple more holes, which we’ll send to the lab shortly as well. So we’ll have results to come in probably, I don’t know, a few weeks time. And then beyond that, obviously, some holes we haven’t drilled yet.
We still need to do some more drilling there. And those holes will obviously start to add to the lab rotation. So we should have results coming through to at least mid-year at least.
And then we start looking at interpreting the results, maybe some more geophysics works in due course. So plenty going on here at Gold Mountain. There certainly is.
And look forward to hearing more.
Lel Smits: Thanks for the update from 49 Metals today.
Phil Carter: No worries.
Lel Smits: Thanks, Phil. Appreciate it.
Phil Carter: Thanks.
Ends