Ramelius Resources confirms bedrock gold at Milky Way

/in /by

THE DRILL SERGEANT: Ramelius Resources (ASX: RMS) claimed to have confirmed down dip continuity to high-grade bedrock gold mineralisation from the first deep drilling beneath the Milky Way open pit, located southwest of the Checker Mill at Mt Magnet in Western Australia.

Ramelius completed four deep exploration drill holes at Milky Way, targeting 50 metres along strike, plus up and down dip of a 6 metres at 11.64 grams per tonne gold intersection the company achieved in September from drillhole GXRC1328.

Intersections from the latest infill drill holes (using a 0.5g/t gold lower cut) include:

GXRC1336
7m at 11.29g/t gold from 232m; and

GXRC1334
3m at 6.11g/t gold from 84m.

Ramelius explained the high-grade gold mineralisation to be associated with the newly discovered shear zone passing through the 50m wide (estimated true width) mineralised felsic porphyry unit (Milky Way Porphyry) and subsidiary hangingwall felsic lenses.

“Previous shallow drilling below the Milky Way pit had failed to identify any significant bedrock source to the supergene mineralisation mined from the pit, circa 1999,” Ramelius Resources said in its ASX announcement.

“Encouragingly, broad intervals of gold mineralisation have been returned from the Milky Way Porphyry.

“The discovery hole intersection (GXRC1328) when calculated through the entire thickness of the porphyry returned 56m at 1.8g/t gold from 189m, using a 0.1g/t gold lower cut.”

Mineralised porphyry intervals (using a 0.1g/t gold lower cut) from the latest drilling include:

GXRC1336
51m at 2.01g/t gold from 219m to end of hole;

GXRC1333
58m at 0.65g/t gold from 165m;

GXRC1334
59m at 0.82g/t gold from 76m; and

GXRC1334
19m at 1.09g/t gold from 114m.

Ramelius said it has been encouraged by these intersections as they continue to demonstrate potential for a larger tonnage mineralised porphyry within the broader Mt Magnet gold camp.

“The Milky Way Porphyry has been modelled over 850 metres strike,” the company said.

“Gold mineralisation remains open in all directions.

“Further step out drilling of the high grade shear zone and the larger Milky Way Porphyry will commence as soon as necessary approvals are in place.”

Email: info@rameliusresources.com.au

Website: www.rameliusresources.com.au