G11 Resources Limited (ASX: G11) is an Australian mineral exploration company. The company focuses on base and precious metal exploration across its tenements in western Tasmania. Today, G11 announced the identification of a significant copper-gold drill target at its wholly-owned Northeast Pyrite prospect. Situated on Exploration Licence EL11/2025, the target lies adjacent to the highly prospective Great Lyell Fault, within a 4km structural corridor along strike from the historic Mt Lyell mining centre. This development marks a key step in the company’s exploration activities in the region.
The Northeast Pyrite target exhibits compelling features supporting its exploration potential. These include its direct location along strike of the Mt Lyell mining licence and around 14km south of the Henty Gold Mine. Geologically, the prospect is adjacent to the Great Lyell Fault, considered a primary fluid conduit, within the middle Cambrian Mount Read Volcanics host rock. Integrated geophysical data, specifically strong IP chargeability coincident with altered felsic volcanics, further bolsters the prospectivity. Three drill holes have been designed to test this broad geophysical-geochemical anomaly, with a submission for approvals already lodged with Mineral Resources Tasmania (MRT).
Further supporting the planned exploration, G11 Resources has been awarded co-funding of up to $120,000 under the Tasmanian Government’s Exploration Drilling Grant Initiative (EDGI). This grant, comprising $100,000 for direct drilling costs and an additional $20,000 for helicopter support, will partially fund the upcoming drill program. The company notes that historical drill hole LMD01A in the area intersected a broad alteration zone characteristic of larger orebody halos, though it cautions that historical results are not JORC 2012 compliant and are indicative of exploration potential only. G11 anticipates finalising grant deeds and commencing drilling during the upcoming summer field season.
