Draig Resources Hits Further High-Grade Gold Results at Tribune

THE DRILL SERGEANT: Draig Resources reported further exploration results from the company’s Tribune gold discovery in Western Australia.

Draig Resource’s recent drilling focused on preparing for a maiden resource estimate and the commencement of work to follow up DHEM target plates from the first pass exploration holes.

The recent work has identified new high-grade ore shoots, from which the company has upgraded the overall exploration potential of the strike extension.

Recently received results included:

DRDD057
4.4 metres at 13.5 grams per tonne gold from 306m downhole (NEW SHOOT POSITION identified from DHEM);

DRDD046
4.2m at 3.6g/t gold 313m downhole (NEW SHOOT POSITION identified from DHEM);

DRDD050
9.5m at 5g/t gold from 324.5m downhole, including 2.6m at 12.7g/t gold from 326.5m (NEW SHOOT POSITION identified from DHEM);

DRDD043
4.1m at 6g/t gold from 92.5m downhole;

DRDD038
2.3m at 8.2g/t gold from 53.7m and 0.3m at 31.8g/t gold from 64.9m and 2m at 9.3g/t gold from 92m downhole; and

DRDD047
2m at 6.7 g/t gold 198m downhole.

Draig also carried out scout drilling 160 metres to the north of the current drill grid with two holes completed, both of which encountered Tribune style shearing and veins.

Results for these holes are pending, and while the intersections don’t contain sulphide mineralisation of note, follow up DHEM has indicated a number of highly conductive plates as off hole conductors.

This has resulted in several shallow and high priority drill targets which the company anticipates testing in coming weeks.

“This recent drilling and DHEM has indicated the high-grade mineralisation at Tribune is still very much open in every direction and we continue to be impressed with the robustness of the drill intersections,” Draig Resources executive director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“The Western Corridor is shaping up to be a very significant discovery for the company.

“We look forward to updating the market on the results of the next phase of step-out and EM drilling at Tribune, deeper drilling, preliminary metallurgical testwork and the maiden resource estimate over the coming months.”

Draig explained it is currently updating the geological model at Tribune with the latest drilling and is completing the next phase of the DHEM surveying with further drilling expected to resume with an RC rig and two DD rigs in the coming weeks targeting extensions of known high grade gold mineralisation and infilling the shallow portion of the discovery ready for future economic extraction study work.

“The company sees significant potential of the Western Corridor to host additional mineralised Lodes highlighted by historical DHEM data,” Parsons continued.

“The company will be commencing a co-funded deep EIS hole as part of a deeper drilling program to target repeat mineralisation behind the Western Shear and below the historic Bellevue underground mine workings.”

 

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