Midas Minerals (ASX: MM1) is set to further explore its Challa project in Western Australia’s Goldfields region, buoyed by positive assay results from a recent infill soil sampling program. Midas Minerals is an Australian exploration company focused on discovering economic mineral deposits. The company’s projects span critical minerals such as lithium, rare earth elements, and base and precious metals.
The sampling, conducted across five prospect locations on the northern Challa licences, aimed to enhance the company’s existing geochemical datasets. Managing director Mark Calderwood highlighted the exploration potential revealed by the results, noting the identification of three anomalous gold trends extending over a 9km strike. Mr. Calderwood stated that the company is gaining a stronger understanding of the northern gold targets at the extensive Challa project.
The next phase will involve targeted infill auger geochemical sampling on the three identified gold trends, with the goal of pinpointing drill targets. The company noted that the stronger gold anomalies can be identified quickly and cost-effectively using pXRF and the detectORE process, even at low parts per billion gold concentrations. Additional sampling at Killarney South largely confirmed a modest gold anomaly over the 3.3km zone containing the old Killarney gold workings, while results at Killarney North suggest an excellent target for further exploration.
At Wondinong East, Midas has identified a 2.6km trend of geochemical anomalies, including a 600m gold-in-soil anomaly extending west from the John Bore South copper-silver occurrence. Soil sampling earlier in the year focused on a 2.8km cluster of anomalies to better understand the distribution of copper, gold, and PGE anomalism. Previous auger geochemistry work in 2021 at John Bore revealed high lead and zinc anomalism, which was confirmed by Midas’ 2023 soil sampling.
