Gascoyne Resources drilling resampling confirms Hendricks discovery
THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) has been able to confirm the recent gold discovery at the Hendricks prospect, part of the company’s 80 per cent-owned Dalgaranga gold project in the Murchison region of Western Australia.
Gascoyne has received 1m resampling assay results from the discovery Aircore hole from the Hendricks prospect.
Three aircore lines of drilling were completed over the target, with the Aircore intersection causing all the fuss coming from drillhole DGAC303.
The 1m resampling of the original composite intersection returned a slightly longer (1m) zone of:
12 metres at 2.2 grams per tonne gold from 35m to the EOH, including 2m at 11.3g/t gold for the interval from 35 to 37m.
Individual 1m assays splits returned grades from repeats of 21.1g/t, 10.3g/t and 14g/t gold.
Within the same hole an upper gold mineralised zone returned from 1m resampling an interval of:
12m at 0.8g/t from 6m.
The Dalgaranga gold project contains a Measured, Indicated and Inferred Resource of 23 million tonnes at 1.4g/t gold for 1.02 million ounces of contained gold.
The Hendricks discovery drilling was part of a program designed to test multiple high-priority targets in the vicinity of the one million ounce Resource base at Dalgaranga.
Earlier this year, Gascoyne announced the intersection of gold zones at a number of prospects including Hendricks, Beefeater, Vickers, Golden Wings, Gilbeys North and Tanqueray.
The company considers all these to have potential, with further exploration, to lead to additional discoveries and future Mineral Resource growth at Dalgaranga.
Prior to this recent exploration drilling by Gascoyne, there had virtually been no drilling conducted outside the known deposits at Dalgaranga since the mid-1990s.
“Planning is well advanced to follow up the Hendricks gold discovery,” Gascoyne Resources said in its ASX announcement.
“The follow-up drilling will be a combination of aircore and RC to test the mineralisation at depth and along strike.”
The Dalgaranga Pre-Feasibility Study (PFS) is on schedule for completion in the current quarter.
An update to the Golden Wings Resource is imminent, and when completed it will be incorporated into the PFS.
The company explained the PFS is investgating the establishment of a 2.5 million tonnes per annum processing plant on site, which recent pit optimisation studies suggest will result in production of approximately 100,000 ounces per annum for six to seven years.
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Website: www.gascoyneresources.com.au