Bulletin Resources hits new lode at Wagtail South

/in /by

THE DRILL SERGEANT: Bulletin Resources (ASX: BNR) has received results from a reverse circulation (RC) drilling program currently underway at the company’s 100 per cent-owned Lamboo and Golden Crown projects located near Halls Creek in the East Kimberley region of Western Australia.
 
The company said three exploratory RC drill holes testing the down-plunge potential of Wagtail South had intersected high-grade mineralisation and a new hanging-wall lode.

Best results include:

–    3 metres at 9.6 grams per tonne gold; and

–    3m at 7.2g/t gold (composite assay).

Bulletin considers the results from all three holes have confirmed down-plunge continuity of the Wagtail South mineralisation below the current resource of 79,000 tonnes at 5g/t gold.

The company said the indication of a new near-surface mineralised lode in the hanging-wall to the immediate east of the planned open pit has encouraged it to grow the resource.

 

Wagtail North and Wagtail South long section showing new drill holes results. Source: Company announcement

 

“These new results from Lamboo are providing additional confidence in the understanding to the controls of the high grade Wagtail South mineralisation at depth” Bulletin Resources managing director Martin Phillips said in the company’s announcement to the Australian Securities Exchange.

“The high-grade lodes typically have a strike extent of less than 80 metres so it is particularly pleasing that we are continuing to hit good grades in these wide spaced exploratory holes.

“Drilling is nearing completion at the Golden Crown and Faugh-a-Ballagh gold deposits following which a detailed assessment of all assay results will be completed.”

Bulletin also completed a third deep hole at Nicolson’s Find targeting the footwall lode and a further exploratory hole, both of which failed to intersect any significant gold mineralisation.

The company still has additional drilling planned for Nicolson’s Find, which will focus on the re-emerging, high grade Main Lode announced in April.

Bulletin indicated future drilling at Nicolson’s North will be subject to the completion of a geophysical survey to assist in the understanding of the structural controls of the mineralisation the company has previously intersected in this area.