Gascoyne Resources extends Glenburgh mineralisation
THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) has recorded high-grade gold intersections while conducting extensional RC drilling between conceptual pit designs for the Shelby and Mustang deposits at the company’s 100 per cent-owned Glenburgh gold project in Western Australia.
Gascoyne said the drilling identified a high-grade zone of mineralisation west of the conceptual Shelby open pit in the central zone of the Glenburgh gold system.
Glenburgh project deposit overview and recent drill intersections. Source: Company announcement
Results from four RC drill holes drilled at Shelby indicate potential for the deposit to extend towards the Mustang deposit.
Intersections include:
– 17 metres at 4.2 grams per tonne gold from 42 metres, including 3 metres at 21 grams per tonne gold;
– 14m at 4.1g/t gold from 55m, including 4m at 12.9g/t gold, 3m at 2.7g/t gold from 78m and 1m at 4.7g/t gold from 99m at the end of hole; and
– 8m at 1.0g/t gold from 45m.
“This drilling has identified a continuous zone of mineralisation that extends for over 150 metres and remains open to the west towards the Mustang deposit,” Gascoyne Resources said in its ASX announcement.
“Further drilling is being planned to further evaluate this high grade zone.”
Other drilling included three holes to test below a soil anomaly within the conceptual open pit at Zone 126, one of which identified a zone of mineralisation grading:
– 15m at 1.6g/t gold, including 8m at 2.3g/t gold from 2m down hole.
“While the grade is slightly lower than the average for the Zone 126 deposit (2.4Mt at 2g/t gold for 151,000 ounces), the area of this new gold zone had previously been interpreted as waste,” Gascoyne explained.
“This new near surface zone of mineralisation is expected to positively impact the open pit development of the Zone 126 deposit.”
Fifteen RC holes were drilled north and east of the known mineralisation at Zone 102, which the company said had intersected a number of narrow low grade intersections including:
– 5m at 0.7g/t gold from 100m.
One hole was drilled to confirm the interpretation of the mineralisation within the Zone 102 resource.
This hole intersected a broad low grade zone of 27m at 0.6g/t gold from 81m, containing higher grade core of 5m at 1.9g/t gold from 85m.
Gascoyne indicated the recent drilling had completed stage one of its 2013 Glenburgh drill program.
A second phase of shallow RC and aircore drilling is expected to commence in the next three weeks testing extensions to the recent high grades discovered west of the Shelby conceptual pit.
Additional drilling is also planned for the Tuxedo, Icon, Apollo and Mustang deposits as well as exploration in the south west target area.