RESOURCES & ENERGY GROUP LIMITED Resources & Energy Group Limited provided an update for the Springfield Prospect. Multi Element Assays from drilling at the Prospect have been received. Broad and shallow zones of disseminated nickelbearing sulphides have been reported.
The results further demonstrate that the Springfield area is prospective for magmatic Ni sulphide mineralization. Additional historic drilling results have also been extracted from WAMEX records which support this view. Four of the six holes reported have intersected broad intervals of finely disseminated nickelbearing sulphide, with elevated cobalt, palladium, and platinum, supportive of a magmatic origin.
Four of the holes drilled have also intersected narrow intervals of gold mineralization, with a peak result of 2 m at 3.5 g/t Au from 32 m in SFRC10. The gold mineralization does not appear to be related to the nickel occurrences and is believed to be associated with geologicallyyounger orogenic gold event. The Springfield Prospect geology comprises a highlydeformed and altered sequence of Archean rocks which include: I) Upper Mafic - High Mg basalts; II) Sedimentary Pyritic chert, slate, banded amphibolite, fuchsite, tuffaceous metasediments; III) Lower Ultramafic – Metakomatiites.
Parts of the Lower Ultramafic metakomatiites have been classified by consultant Dr Ben Grguric as metabirbirite, a highlysilicified form of komatiite. A key observation from the petrographic work completed in the previous round of drilling and reported in January 2022 by Dr Grguric was the presence of NiFe sulphides such as pentlandite and violarite present in blebs, and in one case in nettextures associated with pyrrhotite. Additional sulphide textures involving pentlandite, pyrrhotite and violarite were noted by Dr. Grguric in disseminated sulphidebearing samples from the more recent drilling campaign, in particular from SFRC12 (samples taken over 8487 m).
The recent results together with earlier scout investigation, and historical exploration have now opened up a significant area of prospective rocks within the greater East Menzies Gold Project area for nickel, cobalt, copper, and platinum group elements. It allows for the possibility that the ultramafics and nearby lithologies may host larger accumulations of disseminated and massive NiFe sulphides. The prospect area now has a strike length of approximately 2.5 km, is open at depth, and encompasses a surface area of about 6 km2.
To assist with exploration planning over the prospect area, the Company has recently engaged NewGen Geo Pty Ltd. to undertake a projectwide review of best available airborne magnetic datasets and provide advice and guidance on existing geophysical data and additional geophysical studies. The company is also looking at reprocessing the existing HELITEM data to remove Induced Polarisation effects, which are believed to have hindered past exploration performance. The commission of a ground Moving Loop Electromagnetic (MLEM) survey over the prospective komatiitic basement which now extends between the Cepline, and Emu prospects is also under assessment.
The company has also engaged Dr Ben Grguric from Mineralium Pty Ltd. to validate logging, sample for lithogeochemistry and sulphide petrography and provide advice on further exploration strategy.
