Convergent hits high-grade gold at Blue Vein

THE DRILL SERGEANT: Convergent Minerals received encouraging results from commenced drilling beneath the Blue Vein open cut mine at the company’s Mt Holland Goldfield, located approximately 100 kilometres south of the town of Southern Cross in Western Australia.

Recent drilling has intersected very high grade gold over substantial widths, which the company said is the best drilling result since drilling commenced in February 2012.

 

A long projection of Blue Vein. Source: Company announcement

The first diamond drill hole at Blue Vein has returned assay results including:

–    0.7 metres at 231 grams per tonne gold.

This interval appeared within a continuously-mineralised broader envelope of 4.90m at 37.82g/t gold, which occured within an even wider zone of 14.5m averaging 13.64g/t gold.

Convergent said the 14.5m of high-grade gold mineralisation starts at 426.93m down hole depth, which is 350m vertically below surface.

“The results obtained from this diamond hole demonstrate the continuing strength of the gold mineralisation at depth,” Convergent Minerals chief executive officer David Price said in the company’s announcement to the Australian Securities Exchange.

“The width of the main gold lode is above 10m true width as we progress deeper.

“The company is delighted with this result and management has decided to initiate a Resource Definition drilling program at Blue Vein.”

Convergent said its geological team is building each result into the existing geological model to work towards a re-estimation of the mineral resource at Blue Vein.

“The commencement of a Resource Definition drilling program is aimed at achieving a Measured + Indicated + Inferred resource at Blue Vein as quickly as possible,” Price said.

The Mt Holland Goldfield comprises 10 open cut gold mines where Convergent is aiming to define high-grade gold beneath the open cut mines, with a view to mining from in-pit decline underground access.

The company’s Mt Holland Goldfield includes a tenement package of 42.06 square kilometres and is focused around the old Bounty gold mine, which produced more than 1.3 million ounces of gold over a 12-year period between 1989 and 2001.