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- OreCorp (ORR) has received results for the first two reverse circulation (RC) holes drilled at the Hobbes Gold Prospect in WA
- All up, 17 RC holes were drilled to confirm and test the strike length and continuity of the mineralisation
- Grades peaked at 3.39g/t gold and verify the robust nature of the mineralisation
- Additionally, four holes were drilled at the Quondong Prospect to test for gold mineralisation along the 400-metre strike
- Further results from Hobbes are expected by the end of the month and once all have been received, OreCorp will prepare plans for future drilling programs
- OreCorp is down 2.33 per cent on the market and shares are trading at 63 cents
OreCorp (ORR) has received results for the first two reverse circulation (RC) holes drilled at the Hobbes Gold Prospect.
The Hobbes Prospect lies within OreCorp’s Yarri Project area, which is situated in the Eastern Goldfields of Western Australia.
All up, 17 RC holes were drilled at Hobbes to confirm and test the strike length and continuity of the mineralisation.
Best results include 12 metres at 1.49g/t gold from 58 metres, including four metres at 3.39g/t gold from 64 metres and 22 metres at 3.22g/t gold from 45 metres.
These results are encouraging and they verify the robust nature of the high-grade gold mineralisation at Hobbes.
They also suggest there is strong potential for OreCorp to define a significant zone of gold mineralisation at the prospect.
Additionally, four holes were drilled at the Quondong Prospect to test for gold mineralisation along the 400-metre strike, but results are yet to be received.
Gold mineralisation at both Hobbes and Quondong is hosted within a supergene blanket and underlying chlorite-carbonate-silica volcanic rocks.
Mineralisation typically ranges between 45 metres and 65 metres downhole.
Further results from Hobbes are expected by the end of the month and once all have been received, OreCorp will update the geological model and prepare plans for future drilling programs.
OreCorp is down 2.33 per cent on the market and shares are trading at 63 cents at 3:21 pm AEDT.
