Draig Resources Claims Second Tribune Gold Discovery

THE DRILL SERGEANT: Draig Resources declared a new gold discovery situated only 250 metres in the footwall of the Tribune Lode at the company’s Bellevue gold project in Western Australia.

Draig Resources completed a total of five holes, consisting of three re-entries of previously drilled Tribune Lode holes and two new holes from surface, which it said has confirmed mineralisation over 800 metres strike within what was known as the Gap target.

The company described the target is being situated in a position that potentially represents the offset continuation of the historic Bellevue Lode (previously mined underground) to the west of the Highway Fault and is in the footwall, below the recent Tribune Lode gold discovery.

The first drill hole into this new target area (DRDD059) from which was reported an intercept of 3.4 metres at 10.4 grams per tonne gold from 575.3m in pyrrhotite, chalcopyrite, quartz veining with abundant fine visible gold inclusions.

Latest results from broadly spaced (approx. 250 metres apart) drilling has defined a new high-grade gold zone over 800 metres strike length:

DRCD022
2.5m at 13.1g/t gold from 560.5m, including 1m at 28.5g/t gold from 560.5m;

DRDD059
4.3m at 8.8g/t gold from 575.3m, including 3.4m at 10.4g/t gold from 576.2m and 0.3m at 44.4g/t gold from 584.3m;

DRDD051
0.5m at 16.2g/t gold from 565.5m;

DRDD060
1.4m at 9.7g/t gold from 597.8m, including 0.5m at 20.7g/t gold from 598.6m; and

DRDD055
0.3m at 35.8g/t gold from 627.2m.

“The company is pleased to report its second new significant high-grade gold lode discovery at the Bellevue gold project,” Draig Resources executive director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“This new discovery is currently defined over a strike length of 800 metres and we see significant potential to extend this as we step out with our current drill program.

“To consistently hit in all holes drilled this new mineralised shear zone and grades encountered over step-out drilling greater than 250 metres apart is extremely encouraging and points to the high quality of the mineralised lode system at the Bellevue gold project.”

 

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