THE DRILL SERGEANT: Gascoyne Resources (ASX: GCY) produced further high-grade drill results from the company’s Dalgaranga gold project in Western Australia.
The latest results show drilling encountered mineralisation located outside of Dalgaranga’s current Mineral Resources, Ore Reserves and Life of Mine plan.
Intersections immediately below the current mine plan returned from the southern end of the Gilbey’s Main Zone included:
13 metres at 2.1 grams per tonne gold from 228m; and
44m at 1g/t gold from 221m, including 10m at 1.9g/t gold.
High-grade intersections were encountered from the priority satellite mining targets of Sly Fox and Plymouth, including:
26m at 2.3g/t gold from 277m, including 16m at 3g/t gold.
3m at 6.2g/t gold from 31m, including 1m at 16.2g/t gold.
Gascoyne has follow-up RC drilling planned to commence in January, with the very southern end of the Gilbey’s Main Zone to be drilled first.
Aircore drilling has recommenced at Dalgaranga after the Christmas break testing regional targets at Tanqueray, Lindville and Gilbey’s corridor area (within 10km of processing plant).
“Continued success from resource definition drilling within 1.5 kilometres of the Dalgaranga processing plant is increasing our confidence that we can organically extend the current seven year mine life of the operation,” Gascoyne Resources managing director and CEO Richard Hay said in the company’s ASX announcement.
“Updated Mineral Resource Estimates for Gilbey’s, Sly Fox and Plymouth will be completed in the coming months which will underpin an updated Dalgaranga Life of Mine Plan to be released in the June quarter 2021.
“The possibility of adding a satellite feed component to the current open pit mining at Gilbey’s has potential to deliver both mine life extensions and incremental production growth.
“We will continue to allocate additional funds to drilling across these targets based on ongoing success.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE