Tanami Gold continues to identify gold mineralisation
THE DRILL SERGEANT: Tanami Gold (ASX: TAM) has recorded further encouraging drilling results at the company’s 100 per cent-owned Coyote gold mine in Western Australia.
Recent results have been received from drilling within the Kavanagh target area, which the company indicated are to be incorporated into a Maiden Resource scheduled to be completed by early April 2013.
Recent infill drilling results include:
– 2.4 metres at 216.9 grams per tonne gold;
– 1.8m at 124g/t gold;
– 0.3m at 178.0g/t gold;
– 4.2m at 8.0g/t gold;
– 0.3m at 75.0g/t gold;
– 0.5m at 33.6g/t gold; and
– 0.5m at 26.5g/t gold.
“These results represent some of the highest grades intersected to date from within Kavanagh,” Tanami Gold acting CEO Peter Cordin said in the company’s announcement to the Australian Securities Exchange.
“Of significance, CYUG362 (2.4m at 216.9g/t Au) has extended the mineralisation to the west, closer to the active Coyote mine area.
“The company’s geologists have been pleased at the high success rate of the drilling.
“Their geological understanding has grown and the mine sequence and the mineral occurrence are now well understood.”
Kavanagh oblique schematic cross section. Source: Company announcement
Tanami said drilling to date has identified two main ore horizons within Kavanagh that are defined on both the northern and southern limbs.
They are continuous over a strike length of 250 metres and remain open in all directions.
These mineralised surfaces are referred to as the K1 and K2 lodes and the company claims they have an average true width of 1 metre with an average grade to date of 16.7g/t gold and 32.4g/t gold respectively.
Tanami considers the exploration potential of these lodes to be high with both CYUG362 (2.4m at 216.9g/t gold) and CYUG646 (0.3m at 178g/t gold) remaining open down plunge and along strike.
Tanami is currently using three company-owned underground diamond rigs as part of its ongoing exploration on Kavanagh.