Bulletin encouraged by Wagtail drilling

/in /by

THE DRILL SERGEANT: Bulletin Resources has completed a round of infill RC drilling within the northern portion of the planned Wagtail North open pit, situated within the company’s Lamboo gold project in the Kimberley Region of Western Australia.

 The company said the results from the drilling suggest the Inferred resource mineralisation to be more extensive and continuous than it had previously interpreted.

Highlights from the drilling include:

–    8 metres at 10.7 grams per tonne gold from 30 metres, including 4 metres at 19.7 grams per tonne gold from 32m, and 2 metres at 13.2 grams per tonne gold from 75 metres;

–    7m at 3.7g/t gold from 52m, and 6m at 8.9g/t gold from 62m, including 2m at 23.1g/t gold from 64m;
 
–    4m at 19.8g/t gold from 64m, including 2m at 33.1g/t gold from 64m, and 4m at 5.1g/t gold from 72m, and 1m at 19.0g/t gold from 81m;

–    7m at 6.8g/t gold from 43m, including 1m at 36.3g/t gold from 44m; and

–    3m at 15.6g/t gold from 7m, including 1m at 40.6g/t gold from 8m.

“The positive drilling results to date are increasing our confidence in the continuity of the Wagtail North mineralised lodes both along strike and at depth,” Bulletin Resources managing director Martin Phillips said in the company’s announcement to the Australian Securities Exchange.

“Subject to receipt of the balance of the assay results, we remain optimistic of converting the Wagtail Inferred resource to the Indicated category and ultimately add to the project’s Ore Reserve base.”

 

Drill hole location plan of Wagtail North showing infill drill
intersections above 1g/t Au, significant drilling results above 5
gram-metres and the conceptual open pit outline. Source: Company
announcement

 

Bulletin completed a feasibility study at Lamboo (formerly Nicolson’s project) in April based on a low-risk open pit start up strategy transitioning to underground.

The study recommended an upgrade of the existing processing facility to 200,000 tonnes per annum to support a five year mine life targeting a nominal production rate of 30,000 ounces of gold per annum.

The project has since progressed into the Final Authorisation stage.

Bulletin said the main objective of the current 8,000m drilling campaign is to infill the Inferred resource areas contained within the Wagtail North, Wagtail South and Rowdies open pit designs, advancing them to the Indicated category to augment the current project Ore Reserve.