Gascoyne drills encouraging results at Gilbeys and Hendricks
THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) has received assay results from recent exploration and feasibility drilling activities carried out at the company’s 80 per cent-owned Dalgaranga gold project in the Murchison region of Western Australia.
The company said initial results received from resource and metallurgical core drilling has confirmed down dip widths and grades at the Gilbeys deposit.
Results from Gilbeys include:
DGDH003A
76 metres at 1.1 grams per tonne gold, including 13m at 2.8g/t gold, 24.91m at 1g/t gold, and 12m at 1.5g/t gold;
DGDH007
30m at 1.13g/t gold and 6m at 1.13g/t gold; and
DGDH008
25m at 1.24g/t gold and 6m at 1.15g/t gold.
First RC drilling results from the Hendricks prospect confirmed primary gold mineralisation beneath discovery aircore holes, with mineralisation open down dip and along strike.
Results include:
15m at 1.5g/t gold, including 8m at 2.3g/t gold;
7m at 1.78g/t gold;
6m at 1.2g/t gold; and
5m at 1.2g/t gold.
Gascoyne recently announced the commencement of a full Feasibility Study for the Dalgaranga gold project.
“Along with the resource upgrade and metallurgical work…the feasibility team is focussing on the statutory approvals required to develop the project, with the Mining Proposal, Mine Closure Plan and the Works Approvals all expected to be submitted to the Department of Mines and Petroleum next month, and approvals anticipated to be received by the end of 2016,” Gascoyne Resources said in its ASX announcement.
The Dalgaranga gold project contains a Measured, Indicated and Inferred Resource of 23.7 million tonnes at 1.4g/t gold for 1.05 million ounces of contained gold, including an initial Proved and Probable Ore Reserve of 442,000 ounces of gold.
Email: admin@gascoyneresources.com.au
Website: www.gascoyneresources.com.au