Gascoyne Resources makes new Dalgaranga gold discovery

THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) has claimed a new gold sicovery at the company’s Dalgaranga gold project in the Murchison region of Western Australia.

The discovery at the Hendricks prospect stems from the first assay results Gascoyne received from a 10,000 metre aircore exploration drilling program at Dalgaranga.

The Dalgaranga gold project contains a Measured, Indicated and Inferred Resource of 23 million tonnes at 1.4 grams per tonne gold for 1.02 million ounces of contained gold.

The discovery intersection at Hendricks returned:

DGAC303 
11m at 2.2g/t gold from 36m to the end of hole (EOH); and

16m at 0.53g/t, including 4m at 1.48g/t gold from 4m.

Gascoyne indicated the discovery intersection at Hendricks was encountered only three kilometres east of the Gilbeys deposit.

The result was from follow up testing being conducted around an isolated historic shallow RAB hole, which contains an anomalous gold zone of 8m at 0.3g/t gold located in a NE magnetic low trend similar to the Gilbeys shear trend and magnetic signature.

Gascoyne has now completed three aircore lines of drilling at Hendricks, with the new Aircore intersection from 4m composite sampling in drillhole DGAC303 occurring on the southern-most line completed to date.

“We are extremely pleased that our early drilling has already resulted in the discovery of Hendricks, and demonstrates the strong ability for our Dalgaranga project Resources to grow further as we continue drilling other high priority targets in the area,” Gascoyne Resources managing director Michael Dunbar said in the company’s announcement to the Australian Securities Exchange.

Email: admin@gascoyneresources.com.au

Website: www.gascoyneresources.com.au