Hi Ho, Hi Ho, it’s off to work we go
THE DRILL SERGEANT: Companies getting busy on the drill bit this week include, Helix Resources, Red River Resources, and Gascoyne Resources.
High Priority Exploration Drilling
Gascoyne Resources (ASX: GCY) has commenced a 10,000 metre exploration drilling program at the company’s 80 per cent-owned Dalgaranga gold project in the Murchison region of Western Australia.
The Dalgaranga gold project contains a recently upgraded Measured, Indicated and Inferred Resource of 23 million tonnes at 1.4 grams per tonne gold for 1.02 million ounces of contained gold.
The drilling program has been designed to test multiple high priority targets in the vicinity of the one million ounce Resource base at Dalgaranga which have the potential, with further exploration, to lead to additional discoveries and future Mineral Resource growth at Dalgaranga.
There has virtually been no drilling conducted outside the known deposits at Dalgaranga since the mid-1990s.
In addition to the immediate Aircore/RAB exploration drilling program, further RC resource drilling is scheduled for December at the Golden Wings deposit (which forms part of the Dalgaranga project), to confirm the continuity of the higher grade mineralisation previously identified.
This new drilling will be incorporated into an updated Mineral Resource for Golden Wings in early 2016.
High Impact Drilling
Red River Resources (ASX: RVR) has an upcoming drill program for its Thalanga zinc project in Queensland, which is planned to commence at the Far West deposit in early December 2015.
“Defining more high-grade ore at Far West, or discovering an orebody at Truncheon would be a game-changer for the project and Red River,” Red River Resources managing director Mel Palancian said.
“We are very excited to commence this program.”
Red River has designed a program which will test a number of high impact exploration targets (Truncheon, Ermine North/Echidna, Liontown East and Esso’s Waterloo).
Based on work carried out to date, the company believes these targets have potential to host material economic mineralisation, and should the drilling be successful, have a material positive impact on the company.
Red River plans to commence drilling at the exciting Truncheon target in early 2016.
Truncheon is located only 3km from the Highway-Reward mine.
It is a co-incident gravity, IP and geochemical anomaly the company has interpreted to indicate the presence of a massive sulphide pipe similar to the massive sulphide pipes at Highway-Reward.
The drilling at Truncheon will be partially funding by the Queensland Government’s Future Resources Program – Collaborative Drilling Initiative (Round 9).
Red River will receive $75,000 under this program towards the drilling of two holes of 500 metres depth at Truncheon.
Once the initial round of drilling has been completed at Truncheon, Red River will then test other high impact exploration targets.
Diamond Drilling and Downhole EM to Commence at Collerina
Helix Resources (ASX: HLX) is to commence a maiden diamond drilling program and a Down Hole EM survey will commence at the Collerina copper‐zinc prospect in the next two weeks.
The programs are designed to follow‐up high-grade massive sulphide intersections returned in recent RC Drilling.
The Down Hole EM survey is expected to commence at the end of this week and the diamond drilling is expected to commence in the last week of November.
The diamond drilling program is designed to target the high grade main zone to determine lithological and structural controls of the mineralisation and also test additional targets derived from the new DHEM surveys.
Copper and zinc mineralisation at the Collerina prospect is defined by drilling over a 500 metre length with the high-grade zone (>3% copper) defined over a strike exceeding 250m.
It remains open in all directions.