Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Unity Metals Limited ( (AU:UM1) ) has provided an announcement.
Unity Metals has reported high-grade gold intersections from the first six holes of its maiden roughly 50-hole drilling campaign at the Ngot Gold Project in Cambodia, with stacked quartz–pyrite–arsenopyrite vein zones discovered at the Ngot Central prospect that resemble mineralisation at the nearby Okvau mine. Early results include intercepts up to 21.8 grams per tonne gold, while assays for a further 10 holes at Ngot Central and all holes at other prospects are still pending.
The company has also identified broad, 20–50 metre-wide zones of quartz–pyrite–arsenopyrite–sphalerite–galena mineralisation at the Rohav Mountain prospect, located upstream from extensive artisanal alluvial workings that previously returned high-grade rock chip samples. With about 60% of the 8,000-metre diamond drilling program completed and additional prospects yet to be tested, Unity’s discoveries underscore the exploration potential of the Ngot licence, although assay turnaround is being slowed by heavy laboratory demand from competing operators in Cambodia.
More about Unity Metals Limited
Unity Metals Limited is an exploration company focused on gold projects in Cambodia, with its flagship Ngot Gold Project located adjacent to Emerald Resources’ Okvau Gold Mine. The company is advancing an 8,000-metre diamond drilling program across multiple prospects within the Ngot licence, targeting near-surface and potentially open-pittable mineralisation in a developing gold district.
Average Trading Volume: 573,407
Learn more about UM1 stock on TipRanks’ Stock Analysis page.