Doray and Iluka JV identifies Western Gawler gold targets

THE DRILL SERGEANT: Doray Minerals (ASX: DRM)  has completed resampling of shallow drill holes within the Western Gawler area, which is the subject of a Farm-in Agreement the company has with Iluka Resources (ASX: ILU).

According to Doray, the resampling has shown up a number of large coincident geochemical and structural targets, which the company believes to underline the potential for the project area to host generous gold mineralisation.

Under the terms of the Farm-in Agreement with Iluka Resources, Doray has the right to earn 80 per cent of any gold discovery within the project area by spending $7 million over a six year period.

“Doray has recently completed a resampling and assaying exercise, comprising samples from approximately 2,000 historical shallow drill holes that drilled through surficial material and penetrated basement lithologies,” Doray Minerals explained inits ASX announcement.

“These samples had never previously been assayed for gold and/or pathfinder elements and were held in storage by Iluka.

“Following analysis and subsequent compilation of the resulting data, Doray has identified a number of gold and/or pathfinder anomalies that, in some cases overly obvious structural features identified in the detailed aeromagnetic data previously collected by Iluka.”

The highest priority target to emerge from the resampling work has been identified as ‘Target A’, which has a footprint of approximately 64 square kilometres and has produced a number of samples with elevated gold and pathfinders.

Doray indicated it is now liaising with Iluka to plan for drill testing of Target A during the December Quarter, once all necessary permits and approvals have been received.

Email: info@dorayminerals.com.au

Website: www.dorayminerals.com.au