Xpedra strikes 94m at 2g/t gold as Springfield scale grows

The latest results cover six holes from the company’s maiden 27-hole RC drilling program.

Gold intervals grading more than 5g/t Au have now been returned in 13 of the 25 holes assayed to date, demonstrating that high-grade mineralisation occurs repeatedly within broad mineralised zones along a largely untested 1.7km-long mineralised intrusion.

Hole SFRC025 served up the best intercept recorded at Springfield, returning 94m at 2g/t Au from 80m, including a richer 13m interval grading 10.21g/t Au from 81m.

According to Xpedra Resources (ASX:XPD), mineralisation of this thickness and grade could enhance the project’s development potential and help accelerate its growth trajectory.

“This is the type of high-grade intercept that has the potential to materially change the scale and trajectory of Springfield,” Xpedra Resources managing director Scott Funston says.

“It gives us great confidence that future drilling has the potential to delineate extensions and repetitions of this style of high-grade mineralisation.”

The new intercepts have now extended the mineralised strike to about 400m, with the system remaining open at depth and along trend.

Holes SFRC023, SFRC024 and SFRC025 were drilled as deeper step-out holes to begin testing depth potential of the system.

SFRC024 returned 86m at 0.57g/t Au from 132m, including 11m at 1.07g/t Au from 161m and 14m at 1.03g/t Au from 180m.

The result extended broad mineralisation to greater depths, further supporting Springfield’s potential as a large intrusive-hosted gold system. Mineralisation remains open beneath this hole.

SFRC023 also delivered encouraging results.

It returned three significant zones of 3m at 1.37g/t Au from 117m, 4m at 1.97g/t Au from 149m, and 3m at 2.40g/t Au from 172m.

The hole ended in mineralisation with a high-grade interval of 1m at 5.05g/t Au.

Meanwhile, the northernmost hole drilled to date at Springfield, SFRC022, returned 11m at 2.03g/t Au from 52m and 5m at 3.30g/t Au from 85m.

It confirmed that mineralisation extends continuously over at least 400m of strike.

The system remains open to the north, providing a clear target for further drilling along the largely untested 1.1km northern section of the 1.7km-long mineralised intrusion.

The latest results build on a series of significant gold strikes at Springfield previously reported by the company, including 44m at 2.03g/t Au from 1m, 24m at 2.97g/t Au from surface, 55m at 1.32g/t Au from surface, and 37m at 1.90g/t Au from surface.

“While we are still at an early stage of defining the overall scale of Springfield, each round of results is adding to the picture and increasing our confidence that the project has the potential to develop into a significant gold discovery,” explained Funston.

Xpedra has already commenced a follow-up RC program, totalling about 1000m of drilling to test for depth extensions of mineralisation.

Assays are expected within four to six weeks.

Led by former Avanco CFO Scott Funston and chaired by ex-New World Resources boss Mike Haynes, Xpedra has had a roaring start to life as the owner of Springfield.

It was last drilled in 1999 at a time when gold prices were a fraction of today’s levels.

Along with its exploration success at Springfield, XPD also acquired the Neeld gold project inland in the West Wyalong gold field in April, which once produced 439,000oz at 41g/t, peaking in the late 1800s.