Gascoyne Resources extends Glenburgh deposits

THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) has encountered new gold intersections while conducting a recently-completed program of aircoe and RC drilling at the company’s 100 per cent-owned Glenburgh gold project in Western Australia.

Gascoyne said the drilling was carried out to target extensions to previously identified high-grades west of the Shelby deposit conceptual pit, which included up to 17 metres at 4.2 grams per tonne gold.

“Additional drilling was also conducted in the Tuxedo, Apollo and South West deposit areas,” Gascoyne Resources said in its ASX announcement.

“These positive drill results should extend the conceptual open pits at Tuxedo, Shelby and the South West deposits once included into an updated resource which is expected to be completed in the second half of 2013.

“Of particular note is that all of the intersections are shallow with many starting within 10 metres of the surface.”

Gascoyne said it had hit a number of intersections at the Tuxedo deposit, including 9m at 2.5g/t gold from 25m on the north western side of the conceptual Tuxedo pit.

The company indicated it expects this result to allow the expansion of the conceptual pit.

Infill holes intersected:

–    3m at 11.2g/t gold from 19m; and

–    6m at 1.2g/t gold from 12m.

Gascoyne said these hits had confirmed its resource interpretations.

It also claimed a further intersection of 13m at 1g/t gold from 37m to EOH on the south eastern edge of the conceptual pit had confirmed its interpreted eastern and depth extensions to the mineralisation.

Gascoyne said results from the Shelby deposit supported the company’s earlier wide-spaced RC drilling results and have confirmed western extensions to the Shelby conceptual open pit.

Other results from Shelby include:

–    6m at 1.4g/t gold from 10m;

–    9m at 0.9g/t gold from 2m; and

–    4m at 1.4g/t gold from 26m.

 

Glenburgh project aircore drilling results – Central Area. Source: Company announcement

 

“These new results and the rest of the previously reported 2013 drilling results will be incorporated into a resource update for the Glenburgh project, which is expected to be undertaken in late 2013,” Gascoyne Resources said.

The Glenburgh Feasibility Study is ongoing, for which the company said an update will be provided in the Quarterly Activities Report for the period ending 30 June 2013.

Further results and updates on the exploration activities at Glenburgh and Dalgaranga as well as the Glenburgh Feasibility Study will be provided as they become available.