Gascoyne Resources intersects high-grade gold at Golden Wings

THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) has received assay results from infill resource RC drilling completed in December 2015 on the Golden Wings deposit at the company’s 80 per cent-owned Dalgaranga gold project in the Murchison region of Western Australia.

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.

Drilling at the Golden Wings deposit was undertaken to confirm and extend previously identified higher grade mineralisation.

The results from this drilling campaign are now being incorporated into an updated Mineral Resource for Golden Wings, which Gascoyne expects to be completed in the next two weeks and integrated into the Pre Feasibility Study.

Intersections returned include:

DGRC063
12 metres at 4.4g/t gold from 121m, including 8m at 5.9g/t gold from 123m;

DGRC059
8m at 3.9g/t gold from 72m to the EOH, including 4m at 6.5g/t gold; and

DGRC062
14m at 1.5g/t gold from 126m to the EOH, including 4m at 3.1g/t gold.

“It is very pleasing to have intersected wide and high grade mineralisation at Golden Wings confirming the company’s interpretation of a high grade plunging shoot,” Gascoyne Resources managing director Mike Dunbar said in the company’s announcement to the Australian Securities Exchange.

“This bodes well for the PFS, which remains on schedule for completion by the end of the current quarter.

“The potential for near term development coupled with the recent discovery of a new mineralised shear at Hendricks, and the fact that the area has had next to no regional exploration in the last 20 years, means the Dalgaranga project is fast becoming one of the best undeveloped gold projects in the Murchison.”

Email: admin@gascoyneresources.com.au

Website: www.gascoyneresources.com.au