Doray JV hits gold structure at Horse Well

THE DRILL SERGEANT: Doray Minerals (ASX: DRM) has reported the completion of a diamond drill hole at the Horse Well Joint Venture project in the North East Yilgarn of Western Australia.

Doray signed a farm-in Agreement with Alloy Resources (ASX: AYR) in May over the Horse Well gold project.

The diamond drilling (ACDD001) was completed with the assistance of a Department of Mines and Petroleum Exploration Incentive Scheme grant.

It is the first to be carried out at the Dusk til Dawn prospect and, according to Doray, has intersected a considerable gold mineralised structure.

Results from ACDD001 demonstrate the hole to be mineralised along much of its length, including an interval of 120 metres at 0.60 grams per tonne gold from 105m downhole.

 

Dusk til Dawn prospect. Source: Company announcement

 

“The results from this first hole demonstrate the widespread alteration previously recognised at Dusk til Dawn by Alloy is most likely part of a major mineralising system and therefore indicates the Horse Well project could potentially host a substantial new gold deposit,” Doray Minerals managing director Allan Kelly said in the company’s announcement to the Australian Securities Exchange.

“It is still early days at Horse Well, but it is very exciting to see an intersection of this nature so early on in the exploration program.

“The wide mineralised structure that this hole has intersected indicates that, given the right geological environment, a significant gold deposit could have developed within the prospect area.”
 
Doray explained the hole was collared between two previously drilled RC holes to ensure high-quality drill core was obtained from a zone of known gold mineralisation.

The reasons for this course of action were to increase the JV’s understanding of the style and nature of alteration, mineralisation and structure within the
Dusk til Dawn system and to provide information for an aircore drilling program that is currently underway.

Structural data from ACDD001 has shown the hole was drilled oblique (approximately 45 degrees) to a gold bearing shear the JV considers could be a feeder to a substantial gold deposit.

Doray has commenced a regional scale aircore drilling program to test along the length of the granite contact northwest of the ACDD001 intersection in order to locate any mineralisation hosted within the identified structural corridor.

The program will take approximately one month to complete with assays and interpretation expected to be completed during the last quarter of 2014.

Email: info@dorayminerals.com.au

Website: www.dorayminerals.com.au