Excelsior Gold demonstrates Zoroastrian potential

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THE DRILL SERGEANT: Excelsior Gold has received assay results from sixteen reverse circulation drill holes recently conducted at the Zoroastrian prospect at the company’s 100 per cent-owned Kalgoorlie North project.

The company said it considers the new drilling results have potential to expand its current shallow resources of 472,000 tonnes at 1.9 grams per tonne gold for 28,800 ounces on the western side of the old Zoroastrian pit and the deeper high-grade resource of 454,000 tonnes at 6.9g/t gold u for 100,900 ounces in the south of the pit area.

 

Zoroastrian drilling results and structural model showing existing open
pit, mineralised structural trends and recent RC drilling results.
Source: Company announcement

Results returned from the drilling along the western side of the existing Zoroastrian open pit include:

– 12 metres at 3.00g/t gold from 40 metres within flat vein;

– 11m at 7.43g/t gold from 37m, including 2m at 30.3g/t gold from 43m within flat vein;

– 10m at 3.13g/t gold from 0m, including 3m at 9.23g/t gold from 7m within flat vein; and

– 5m at 2.58g/t gold from 53m within North West Link.

Excelsior also intersected gold mineralisation at a new position on the western contact, which included:

– 2m at 4.67g/t gold from 42m;

– 4m at 2.03g/t gold from 80m to end of hole;

– 2m at 2.50g/t gold from 57m; and

– 2m at 3.95g/t gold from 56m.

Drilling conducted to the south of the Zoroastrian it and of the current resource area also hit zones of gold mineralisation.

One hole in particular, which was drilled 160m to the south of the current resource model intersected four zones corresponding to the southern extensions of the Royal Mint, Slug Hill and Bluey’s structures and a new deeper vein to the east.

Intercepts included:

– 7m at 3.21g/t Au from 145m within the Royal Mint Lode;

– 8m at 3.37g/t Au from 172m within the Slug Hill Lode;

– 15m at 3.49g/t Au from 193m within the Bluey`s Main Lode; and

– 3m at 4.60g/t Au from 226m within a new lode position.

This is the most southerly drill hole currently drilled at Zoroastrian by Excelsior Gold and the area remains poorly drill tested.

Lines of historical workings which correspond with the surface projections of these intercepted zones can be traced for another 500 metres to the south indicating good potential for extension of gold resources south of Zoroastrian,” Excelsior Gold said in its ASX announcement.

“Results from a hole infilling these two holes are pending and further drilling is planned.

“The new drilling results confirm the significance of the Zoroastrian mineralisation for both open pit and underground mine production potential and the contribution Zoroastrian could deliver to the development strategy for the Kalgoorlie North project.”