THE DRILL SERGEANT: Draig Resources (ASX: DRG) released drill results from the Tribune discovery within the company’s Bellevue gold project near Kalgoorlie in Western Australia.
Draig Resources said the latest drill results from the Tribune discovery have extended the high grade gold mineralisation at depth and along strike to the south.
2.5 metres at 29 grams per tonne gold from 147.5m and 3.8m at 5.2g/t gold from 133m downhole;
4m at 9.0g/t gold from 57m downhole;
2.4m at 16.6 g/t gold 102.4m downhole;
7m at 7.20g/t gold including 2m at 17.8g/t from 288m downhole – this is the southernmost drill intersection to date and confirms mineralisation is open to the south; and
9m at 5.4 g/t gold from 375m including 2m at 15.2g/t gold – this is the deepest drill intersection Draig has encountered to date, which the company said confirms high-grade gold mineralisation at depth.
Draig Resources recently completed a fully underwritten institutional placement to secure exploration funding for the company to fast track key targets including:
Step-out extensions of the high-grade Tribune Lode;
Further mineralisation in the ‘Western Mineralised Corridor’;
Drill testing Bellevue Mine Lode deeper targets;
Regional targeting over 20 kilometres of potential strike; and
Initial first pass targeting at the South Yandal gold project located on the Bronzewing-Darlot-Jubilee gold belt only 40 kilometres to the east of the Bellevue gold project.
The company indicated a Resource estimate for Bellevue gold project is anticipated in Q3 2018.
“The company is pleased to update the market on the progress of the high-grade Tribune Lode discovery,” Draig Resources executive director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.
“Our most recent step-out extensional drilling has confirmed the high-grade mineralised system is very much alive to the south, at depth and down plunge, with numerous high-grade drill intersections received from this latest round of results.
“With the recent fully underwritten institutional placement completed the company now has the opportunity to aggressively augment drilling at the Tribune Lode and explore for further high-grade zones within the highly prospective Western Corridor and beyond.
“We see a real opportunity to significantly grow the Bellevue gold project into a standout high-grade gold project.”