Gascoyne Resources Confirms High-Grade Gold Discovery at Dalgaranga

THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) claimed discovery of a “substantial” new high-grade lode system on the company’s 100 per cent-owned Dalgaranga gold project in Western Australia.

Gascoyne announced the discovery of a plunging lode system it identified through recent drilling that confirmed a high-grade extension on the immediate western flank of its new Gilbey’s North prospect, located less than one kilometres from the 2.5 million tonnes per annum processing plant.

New drilling results include:

DGRC1110
59 metres at 12.5 grams per tonne gold from 139m, including 13m at 51.1g/t gold; and

DGRC1109
39m at 3.09g/t gold from 99m and 20m at 1.12g/t gold from 156m.

Alongside the other recently reported results from this newly discovered east-west oriented mineralised position, other drilling intercepted consistent width and continuity at the high-grade Never Never lode, another part of the emerging Gilbey’s North near-mine discovery.

Recent high-grade gold intercepts from the Never Never lode include:

DGRC0971
54m at 6.55g/t gold from 116m down-hole, including 12m at 20.1g/t gold; and

DGRC1026
32m at 8.58g/t gold from 167m down-hole, including 14m at 16.4g/t gold.

“It’s not every day that you see results like this in the WA gold sector and we are incredibly excited by the potential of this newly discovered lode system on the western edge of the Gilbey’s North discovery,” Gascoyne Resources managing director and CEO Simon Lawson said in the company’s ASX announcement.

“Finding a northerly extension to the main Gilbey’s system was itself a major discovery coup for Gascoyne earlier this year.

“Being situated right in front of the mill and at a time when the company and its loyal investors needed some vision for the future, our team and our aggressive drilling strategy came through.

“To then back that up and discover a completely different style of consistently thick and very high-grade gold mineralisation in the Never Never Lode – an ore body style that has immense potential – is a remarkable achievement by our exploration team and has the potential to reshape our future very quickly.

“We currently have two drill-rigs on the Never Never Lode, one RC rig and one diamond drill rig, and we are aggressively chasing this exciting target.

“We will change the future of Gascoyne one drill-hole at a time.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@gascoyneresources.com.au

 

Web: www.gascoyneresources.com.au