Bulletin Resources continues to wiggle Wagtail

THE DRILL SERGEANT: Bulletin Resources has received a second set of results from reserve definition drilling it is currently conducting within the planned Wagtail South open pit at the company’s 100 per cent- owned Lamboo project (formerly Nicolson’s) located near Halls Creek in northern Western Australia.

The drilling has intersected further shallow, high-grade gold mineralisation.

Highlights include:

–    8 metres at 24.3 grams per tonne gold from 15 metres, including 2 metres at 71.3 grams per tonne gold from 18 metres;

–    4m at 6.7g/t gold from 20m;

–    3m at 8.8g/t gold from 4m, including 1m at 22.7g/t gold from 4m; and
 

–    1m at 8.3g/t gold from 56m, 2m at 7.4g/t gold from 59m, 2m at 12.4g/t gold from 67m.

 

Drill hole location plan of Wagtail South showing infill drill
intersections above one gram per tonne gold, significant drilling
results above 5 gram-metres and the conceptual open pit outline. Source:
Company announcement

“It is particularly reassuring to see the reserve definition drilling results meet our expectations and confirm both Wagtail North and Wagtail South as sources of near surface, high grade mill feed for the commencement of operations,” Bulletin Resources managing director Martin Phillips said in the company’s announcement to the Australian Securities Exchange.

“With our confidence growing in achieving the targeted five year mine plan, we are now in a position to progress discussions with potential financiers.

“We anticipate being in a position to update the market on our financing strategy in coming weeks.”