Greenstone Resources Continues High-Grade Gold Hits at Burbanks
THE DRILL SERGEANT: Greenstone Resources (ASX: GSR) reported results from a Phase-1 drill campaign underway at the company’s Burbanks gold project, south of Coolgardie in Western Australia.
Greenstone Resources said the results had continued to reaffirm the high-grade nature of Burbanks, while also extending the known mineralised strike horizon by 25 per cent.
The company explained the Phase-1 drill campaign is targeting the unclassified mineralisation supporting its recent JORC (2012) Exploration Target range of 3.3-3.6 million tonnes at 2-2.8 grams per tonne gold for 215,000 – 230,000 ounces of contained gold.
This Exploration Target is separate from the Mineral Resource of 3.4 million tonnes at 2.5g/t gold for 277,547 ounces and does not include over 2km of largely untested strike potential.
Intercepts from the Phase-1 drill campaign include:
BBRC405D
3 metres at 7.28 grams per tonne gold from 131m, including 1m at 19.2g/t gold from 132m;
BBRC377D
3.2m at 4.71g/t gold from 185.8m, including 0.37m at 29.5g/t gold from 185.8m; and
7.8m at 3.01g/t gold from 194.7m, including 1.4m at 8.64g/t gold from 196.6m.
“The current Phase-1 drill campaign continues to exceed our expectations, highlighting the true geological potential of Burbanks,” Greenstone Resources managing director and CEO Chris Hansen said in the company’s ASX announcement.
“Following from the recent intercept in BBRC371D of seven metres at 57.84 grams per tonne gold from 90 metres in December, we have not only continued to deliver further high-grade intercepts, but also grow the known mineralised strike horizon by a further 25 per cent.
“The high-grade nature of Burbanks should not be understated, as over the past ten years since 2012 the average open pit grade has declined 16 per cent to 1.29g/t gold, whereas Burbanks has subsequently joined an exclusive list of ASX-listed Australian gold projects with a resource grade greater than 2.5 grams per tonne.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE