- Results from 3D Resources’ (DDD) recent drill program at the Gibraltar Mine in NSW indicates the potential for a major deposit
- Drilling was undertaken to explore the significant potential of the Gibraltar Mine and improve the geological understanding of the Caledonian Deposit
- Grades peaked at 9.02g/t gold from the Gibraltar Mine and 16.65g/t gold from the Caledonian Deposit
- While all results are yet to be received, Managing Director Peter Mitchell said the results received to date are “extremely encouraging”
- 3D Resources is up 16.7 per cent on the market with shares trading at 0.4 cents at 12:06 pm AEST
Results from 3D Resources’ (DDD) recent drill program at the Gibraltar Mine in NSW have indicated the potential for a major deposit.
Drilling was undertaken to explore the significant potential of the Gibraltar Mine and improve the geological understanding of the Caledonian Deposit.
3D Resources hoped to upgrade the current inferred resources to a higher classification ahead of the upcoming scoping study.
Results have so far been received from holes 3DGIB003 and 3DGIB004 which intersected one metre at 9.02g/t gold from 82 metres and one metre at 5.36g/t gold from 47 metres.
These results have confirmed the potential for the area to generate additional open-cut resources with multiple veins and intersections at shallow depths.
Hole 3DGIB003 remains open to the west and there has been no exploration or mining to the west of the hole.
Significant intersections were also encountered at the Caledonian Deposit with results of six metres at 6.68g/t gold from 52 metres including one metre at 16.65g/t gold from 53 metres.
Once all results have been received from Caledonian, they will be incorporated into the JORC resource model.
“The results received to date are extremely promising and could offer the potential for a major resource. The initial assays from reconnaissance drill holes at Gibraltar are excellent,” Managing Director Peter Mitchell said.
“We are also very pleased with the initial results from CAL009 which confirm the presence of wide intersections at Caledonian. We look forward to receiving the remaining assay results very soon.”
3D Resources was up 16.7 per cent on the market with shares trading at 0.4 cents at 12:06 pm AEST.