Gascoyne Resources Amps Up Dalgaranga Exploration Activity

THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) is making good progress with the near-mine exploration strategy being implemented at the company’s 100 per cent-owned Dalgaranga gold project in Western Australia.

Gascoyne Resources reported new results from across multiple existing and emerging prospects, including assay results from the recently discovered zone of gold mineralisation located immediately north of the Gilbey’s open pit, the main ore source, along with further high-grade results outside the current Mineral Resource envelope at the active Plymouth Open Pit and encouraging first-pass results from the Lindville prospect, eight kilometres north of the Dalgaranga plant.

Close-spaced follow-up drilling at Gilbey’s North, immediately north of the main operating pit at Dalgaranga, delivered a series of shallow high-grade gold intercepts including:

DGRC0794
9 metres at 1.28 grams per tonne gold from surface and 29m at 1.81g/t gold from 16m, including 18m at 2.52g/t gold;

DGRC0795
38m at 2.46g/t gold from 11m, including 20m at 4g/t gold; and

DGRC0796
5m at 1.58g/t gold from 2m and 7m at 1.87g/t gold from 25m.

Drill testing to evaluate the extent of gold mineralisation at the active Plymouth Open Pit returned additional assays outside the current Resource envelope including:

DGRC0780
4m at 5.59g/t gold from 56m; and

DGRC0810
7m at 2.61g/t gold from 87m, including 4m at 4.08g/t gold.

Gascoyne has a new JORC 2012 compliant Mineral Resource Estimate (MRE) underway for the active Plymouth open pit encompassing recent drilling results.

A maiden JORC 2012 MRE for the Archie Rose prospect is also nearing completion and due for release in the coming weeks.

“Gilbey’s North is shaping up as a real game-changer for the company,” Gascoyne Resources managing director and CEO Simon Lawson said in the company’s ASX announcement.

“These latest results demonstrate the continuity of consistent, thick zones of high-grade gold mineralisation both along strike and at depth – an outstanding result.

“Our smaller capacity rig has been very busy systematically punching close-spaced 54m deep holes around the highest grade, thickest shallow mineralisation at Gilbey’s North.

“These close-spaced holes will give us confidence in preparations for an initial Mineral Resource Estimate and potential mining scenarios.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@gascoyneresources.com.au

 

Web: www.gascoyneresources.com.au