White Energy Co (ASX:WEC) said its unit Amerod Resources completed an eight-hole reconnaissance diamond drilling program at the Specimen Hill Project in Queensland, with all holes displaying varying degrees of epidote, chlorite, and sericite alteration, according to a Thursday Australian bourse filing.
The company said selective assay results from four drill holes identified multiple copper-gold-silver hydrothermal vectors and evidence of several mineralizing fluid pulses. Meanwhile, one hole intersected an iron-rich hydrothermally altered interval with a copper-silver-gold-bismuth-tellurium-selenium-arsenic-molybdenum-tungsten association, supporting further exploration in that area.
One hole and nearby surface samples support the interpretation of a structurally controlled copper-silver-gold hydrothermal system associated with epidote-rich, calcic-altered volcanic and volcaniclastic rocks, the filing added.
The company's shares rose almost 9% in recent Thursday trade.