Gascoyne Resources encounters multiple gold zones at Dalgaranga
THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) is feeling rather pleased having received final assay results from a program of aircore exploration drilling from December last year 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.
Following the Hendricks gold discovery in January, Gascoyne designed the follow up aircore program to test multiple high priority targets in the vicinity of the one million ounce Resource base at Dalgaranga, which it considers t have the potential, with further exploration, to lead to additional discoveries and future Mineral Resource growth at Dalgaranga.
The company said the discovery of the additional gold zones intersected at the Beefeater, Vickers and Gilbeys North prospects strengthens its belief the Dalgaranga project has potential to grow with further drilling.
Gilbeys North
Drilling targeted shallow mineralisation areas northeast of the Gilbeys deposit with the best intersection returned being:
8 metres at 3.6 grams per tonne gold from 24m in DGAC384 which lies more than 500m along strike from the northern limit of the current Gilbeys resource.
The area has only been partly tested and Gascoyne has further follow up work planned to evaluate this mineralisation.
Beefeater
The drilling was focussed on testing a poorly tested one kilometre-long east west trending RAB anomaly from historical drilling that lies 1.5km south of the Golden Wings deposit and 2.5km north-east of the Gilbeys deposit.
Six north-south orientated aircore lines were completed at 100m to 200m line spacings.
Best results here included the intersection of a shallow interval of 13m at 0.9g/t gold from 16m to the EOH in DGAC323, including 4m at 1.6g/t gold from 16m.
One hundred metres to the east aircore hole DGAC328 intersected 4m at 0.4g/t gold from 20m to the EOH confirming a bedrock anomaly trending east – west in very shallow drilling that remains untested to the east and west.
Vickers
Aircore drilling targeted untested areas west and north of the historic Vickers prospect.
Drilling was completed on 3 north-south orientated lines with a number of anomalous gold zones intersected.
Results included:
4m at 1.4g/t gold from 12m in DGAC357;
8m at 0.7g/t gold from 60m to EOH in DGAC358; and
12m at 0.5g/t gold from 48m in DGAC378.
Gascoyne said it was well-advanced with planning to follow up the Hendricks gold discovery and these latest results.
The follow-up drilling will be a combination of aircore and RC to test the mineralisation at depth and along strike.
Program of works (POW’s) have been submitted to and approved by the Department of Mines and Petroleum for the planned drilling which is expected to commence in March.
“The first regional exploration completed at the project for around 20 years has been a great success, confirming the potential of the region, with the discovery of the Hendricks mineralised shear, identification of a bedrock east west mineralised trend at Beafeater and significant mineralisation intersected at Gilbeys North and Vickers,” Gascoyne Resources managing director Michael Dunbar said in the company’s announcement to the Australian Securities Exchange.
“This exploration along with the recent RC drilling at Golden Wings and the ongoing Pre-Feasibility study support the company’s belief that Dalgaranga project is one of the best undeveloped gold projects in the Murchison.”
Email: admin@gascoyneresources.com.au
Website: www.gascoyneresources.com.au