Iondrive’s Angsan Project on Geoje Island comprises six contiguous licence applications surrounding the historic Geoje copper-gold mine held by a third party, and two licences 1.8km to northeast (Angsan North) adjacent to a third-party licence over Chil Cheon peninsula.
The Geoje Mine is an epithermal Au-Ag-Cu vein-breccia deposit that was historically mined. Recent sampling at waste dumps returned gold grades up to 28.2 g/t Au and underground samples returned copper grades up to 1.26%.
Sampling on coastal outcrops 500m west of the mine returned grades of 13.3 g/t Au, 10.55 g/t Au and 0.85% Cu in quartz veins up to 5cm wide, including historical Ivanhoe sampling (1998) returning grades of 1.9 g/t Au. These veins crosscut a volcanoclastic conglomerate that contains abundant subangular clasts of fine-grained laminar-bedded siliceous lake sediment implying preservation of the hydrothermal system. Clasts of mineralised colloform-banded veins suggest multiple phases of mineralisation.
Reconnaissance work within the broader project area has highlighted wide-scale alteration and potential for additional polymetallic mineralisation styles. A rhyolite quartz-feldspar intrusive dike returned gold grades of 0.49 g/t Au and 0.45% molybdenite, with country rock hosting sheeted quartz-pyrite vein networks within strongly silica-sericite altered andesite returning copper grades up to 0.16% copper.