Gascoyne Resources Drills Depth Potential at Plymouth
THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) reported encouraging drill results from near-mine exploration at the company’s 100per cent-owned Dalgaranga gold project in Western Australia.
Gascoyne Resources said its latest exploration developments include positive results immediately below the operating Plymouth open pit and further results from the emerging Gilbey’s North discovery, located immediately north of the Gilbey’s pit, which is the main source of ore feed at Dalgaranga.
The first hole of the Reverse Circulation (RC) drill program returned:
DGRC0753
11 metres at 2.75 grams per tonne gold from 89m.
Drilling at the Gilbey’s North prospect, located north of the main Gilbey’s open pit increased the width and extent of the mineralised zone.
Intercepts from Gilbey’s North include:
DGRC0745
6m at 1.6g/t gold from 91m;
DGRC0749
4m at 3.7g/t gold from 78m, including 1m at 11.3g/t gold; and
DGRC0750
9m at 1.1g/t gold from 84m.
“These latest results demonstrate the significant untapped potential in the near-mine environment at Dalgaranga, with positive new results in close proximity to existing mining areas at both the Plymouth and Gilbey’s open pits,” Gascoyne Resources managing director and CEO Simon Lawson said in the company’s AX announcement.
“With the Gilbey’s North discovery firming up as a very compelling target, and with a number of near-mine targets like Plymouth producing standout results, we are now intently focused on converting these results into potential upgrades to Resources, Reserves and mine life at Dalgaranga.
“These results really reinforce Gascoyne as an exciting growth opportunity, with solid production and a great processing plant at its core – and an active exploration team delivering new ounces and blue-sky growth potential.
“This is a rare combination that I think investors want to see – a company actively capitalising on its potential.
“We are continuing to see good gold production from our plant through the short month of February, we are making meaningful near-mine shallow discoveries with the potential to become mill feed in the short term and, with plenty of untested targets, our team is just getting started.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: admin@gascoyneresources.com.au
Web: www.gascoyneresources.com.au