Codrus Minerals Drills Widespread Gold at Red Gate Gold Project
THE DRILL SERGEANT: Codrus Minerals (ASX: CDR) received assay results from the Phase 2 Reverse Circulation (RC) drilling program at the company’s 100 per cent-owned Red Gate gold project in Western Australia.
Codrus Minerals said the results had confirmed the potential for a large-scale gold mineralised system.
The company explained the recent phase of wide-spaced drilling was designed to further unlock the geological potential of the Red Gate project as the company works to define the overall scale and potential of the mineralised system that has been identified to date.
Assay results from the second drill program include:
Porphyry West
RGRC029
10m at 1.19 grams per tonne gold from 52m down-hole, including 1m at 5.51g/t gold from 58m
10m at 1.4g/t gold from 66m down-hole; and
RGRC030
1m at 2.01g/t gold from 133m down-hole
4m at 1.08g/t gold from 149m down-hole.
Porphyry North
RGRC035
14m at 1.06g/t gold from 18m down-hole, including 2m at 3.97g/t gold from 18m
1m at 9.24g/t gold from 37m down-hole; and
RGRC039
1m at 2.83g/t gold from 41m down-hole.
“Our second phase of RC drilling at Red Gate has delivered very encouraging results over a significant area,” Codrus Minerals managing director Shannan Bamforth said in the company’s ASX announcement.
“The purpose of the program was to scope out the broader potential of the mineralised system and improve our understanding of the geological context and structural controls on the mineralisation.
“It has been very successful on both counts.
“Seeing grades of up to nine grams per tonne as well as several broader, lower grade zones, distributed over an extensive area, is a promising result which confirms the significant gold endowment of this under-explored project.
“Most of the individual zones of mineralisation encountered remain open along strike and down-plunge.
“This highlights the significant opportunity to define resources with further drilling.
“Given the strategic location of this project in the heart of an active gold mining district, Red Gate is a valuable and important asset for Codrus.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: admin@codrusminerals.com.au
Web: www.codrusminerals.com.au
