Premier1 Lithium (ASX: PLC) has announced promising results from its initial drilling program at the Yalgoo gold project in Western Australia. The program targeted extensions of known gold mineralization at Olive Queen, Crescent, and Carlisle, in addition to new target areas identified through geochemical sampling and litho-structural studies. Drilling at Carlisle intersected 10 meters at 3.1 grams per tonne gold from 19 meters, including 7 meters at 4.3g/t gold. Crescent South yielded exceptional intercepts of 3 meters at 31.5g/t gold from 97 meters, including 1 meter at 91.9g/t gold.
The company also identified a new mineralized system west of Olive Queen, intersecting 1 meter at 1.5g/t gold from 96 meters during first-ever drilling in the area. Managing Director Jason Froud noted that the drilling delivered some of the highest-grade intercepts recorded on the project thus far, highlighting the untapped potential of overlooked areas and the opportunity for high-grade gold along the trend from known mineralization. Premier1 plans to conduct follow-up drilling to test along strike and down-dip of the intersected mineralized zones, targeting gold and base metals at the Mt Kersey and Central Block prospects. The company will utilize a $180,000 grant received from the WA government to support the drilling efforts.
