Join our daily newsletter At The Bell to receive exclusive market insights
- Golden Mile Resources (G88) is set to resume drilling work at its Leonora gold project in the prolific Eastern Goldfields of Western Australia
- Initial air-core drilling will focus on the Benalla gold trend with the aim of extending the mineralised zones tested late last year
- This will be followed by reverse circulation drilling to further test the extent and gold grade of the structures below the shallow air-core holes
- Previous results from last year’s air-core program include 12 metres at 1.03 grams per tonne and eight metres at 1.28 grams per tonne of gold
- Golden Mile Resources is up 2.13 per cent to 4.8 cents per share
Golden Mile Resources (G88) is set to resume drilling work at its Leonora gold project in the prolific Eastern Goldfields of Western Australia.
Initial air-core drilling will focus on roughly seven kilometres of strike at the Benalla gold trend with the aim of extending the mineralised zones that were tested in late 2020.
This drilling work returned 12 metres at 1.03 grams per tonne of gold including four metres at 2.52 grams per tonne, and eight metres at 1.28 grams per tonne of gold, which included four metres at 2.44 grams per tonne of gold.
In addition to the follow-up drilling, a number of new targets that were identified during the re-analysis of drill pulps — the residue from previous gold evaluations — gathered from last year’s program will also be tested.
The review of this data showed that gold mineralisation is associated with wide intervals of arsenic animalism, as well as pathfinder elements such as silver, bismuth, copper, tellurium, tungsten and zinc, which supports Golden Mile’s view that Benalla hosts a significant mineralised system.
“The recent review of pathfinder element geochemistry also gives us the confidence to step out and test extensions of key structural zones associated with historical prospects, which point to a much larger system than we had initially interpreted at Benalla,” said James Merrillees, Golden Mile’s newly appointed Managing Director.
Once the air-core phase has been completed, a second phase of reverse circulation drilling will further test the extent and gold grade of the Benalla structures. These holes will also seek to test the mineralisation below the shallow air-core holes.
Golden Mile Resources is up 2.13 per cent to 4.8 cents per share at 4:02pm AEDT.
