Initial Drillhole Intervals from Samar Gold Project
Figure 1. Drill core sample from SAM 6.5/44 (223.80–224.00 m), showing massive sulphide mineralisation. The 0.20 m sample returned a laboratory assay result of 2.06 g/t Au, 279 g/t Ag, 0.74% Cu, 12.30% Pb and 12.20% Zn.
Pela Global Limited (“PELA” or the “Company”) is pleased to report on mineralised intervals observed from ongoing drill sample analysis at the Samar Gold Project ("Samar"), Pela’s emerging precious and base metal project within the Luke KP Concession in North Macedonia.
Following PELA’s initial announcement of individual sample assays, this update presents a more detailed account of intersected assay results received from initial analysis of four drillholes and core sample assays received.
Highlights
Multi-element assay results (four acid digest & XRF) received thus far display mineralisation on the southern periphery, and outside of historic exploration adits expanding the previously known mineralised footprint.
Early results are suggesting multiple polymetallic ore shoots comprising a polymetallic assemblage akin to results observed from exploration adits, namely; galena (Pb), sphalerite (Zn), argentite (Ag), chalcopyrite (Cu), stibnite (Sb) and gold (Au).
Early petrophysical results display very high contrasting chargeability response to high grade polymetallic ore shoots in a low chargeability background supporting proposed and upcoming induced polarisation surveys designed to map these and or new ore shoots along strike and at depth.
Figure 2. Samar Gold Project plan showing historical exploration adits, drillhole locations and gold assay results, highlighting the four 2019 drillholes included in this update.
Drilling Assay Coverage
The 2019 Samar diamond drilling program comprised 15 holes totaling 4,299 m. All assay results have been received for the samples submitted from drillholes, SAM-6.5/43, SAM-6.5/44, SAM-7.0/15 and SAM-7.0/42. Comprehensive sampling and analysis of retained core from the remaining 2019 holes are continuing.
Samar’s historical exploration includes underground channel sampling in adits 1–3, earlier drilling (2011), surface sampling and ground electrical geophysical surveys. These provide an exploration framework for the 2019 drilling program.
Managing Director comments:
“The intervals and observations build on the encouraging individual sample results we announced previously and help place them in the context of Samar’s historical underground exploration.”
“We are continuing to assay the remaining 2019 core and will provide further updates as results become available. A detailed interpretation of these results, including their geological significance, will be released on receipt of all assays.”
Calculated Assay Intervals
The reported intervals have been calculated using length-weighted composite grades and metal-specific grade thresholds, with allowances for limited internal dilution. These parameters are applied to identify and summarise mineralised intervals from the assay data and do not represent economic cut-off grades.
Continuing work and technical information
PELA will provide further updates as additional assays become available. Following completion of the remaining laboratory analysis, the Company intends to provide a more comprehensive assessment integrating the results with historical exploration information.
For further information, please contact:
Investor Relations
PELA GLOBAL LIMITED
Email: info@pelaglobal.com.au
Website: www.pelaglobal.com.au
About Pela Global Limited
Pela Global Limited is an Australian critical and precious metals company focused on the responsible development of mineral resources across Southeastern Europe’s Tethyan Metallogenic Belt. Its key assets include:
Krstov Dol Antimony Project (North Macedonia) – An advanced-stage project aiming to produce high-grade antimony concentrate from a historically producing site, strategically positioned to support Western critical minerals supply objectives.
Samar Gold Project (North Macedonia) – A high-grade polymetallic system with confirmed gold, silver, lead, zinc, and copper mineralisation, offering strong exploration and development potential.
Forward-Looking Statements
This announcement may contain forward-looking statements which include, but are not limited to, statements regarding the future financial and operational performance of the Company, project development plans, timing and completion of studies, estimates of mineral resources or reserves, future production, costs, revenues, and other anticipated outcomes. Forward-looking statements are based on the Company’s current expectations, estimates, and assumptions and are subject to a range of risks, uncertainties, and other factors, many of which are outside the control of the Company. These could cause actual results to differ materially from those expressed or implied in such statements.Although the Company believes that the assumptions and expectations reflected in these forward-looking statements are reasonable, they should not be regarded as guarantees or predictions of future performance. Forward-looking statements are inherently subject to business, economic, competitive, political, and social uncertainties and contingencies. Readers are cautioned not to place undue reliance on such statements.
The Company makes no representation and gives no assurance that the results, performance, or achievements expressed or implied in the forward-looking statements will actually occur. Except as required by law, the Company does not undertake to update or revise forward-looking statements to reflect any change in expectations or circumstances.