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- Cavalier Resources (CVR) delivers a 17-per-cent increase to the mineral resource estimate (MRE) of its Crawford gold project in Western Australia
- The project’s MRE now sits at 3.75 million tonnes at one gram per tonne (g/t) of gold for 117,800 ounces of contained gold
- The strike length of the Crawford project resource now spans over one kilometre and remains open both along-strike and at depth
- CVR now plans to pause work on its pre-feasibility study to allow more time to review exploration results and plan a second drilling program at Crawford
- Shares in Cavalier Resources were trading at 16 cents at 3:36 pm AEDT
Gold and nickel explorer Cavalier Resources (CVR) has delivered a 17-per-cent increase to the mineral resource estimate (MRE) of its Crawford gold project in Western Australia.
The project, which forms part of the company’s wider Leonora project, now has an MRE of 3.75 million tonnes at one gram per tonne (g/t) gold for 117,800 ounces of contained gold, at a cut-off grade of 0.5 g/t gold.
Of this, roughly 80,600 ounces of gold fall under the ‘inferred’ category, and 37,300 ounces of gold fall under the higher-confidence ‘indicated’ category.
Cavalier Technical Director Daniel Tuffin said the company’s recent exploration campaign achieved its dual goal of providing further confidence in the Crawford project and testing for potential depth and strike extensions to the project’s resources.
“The discovery of a new sub-vertical zone and the confirmation of the northern fresh rock zone indicates that further exploration drilling is required at Crawford,” Mr Tuffin said
“The expert’s report concurs, recommending further exploration of the extent of the resource given it remains open along-strike and at depth.”
He said in light of these new developments, the company would now pause work on its pre-feasibility study to allow more time to review exploration results and plan a second drilling program at Crawford.
Specifically, the company now plans to complete infill drilling in the northern and southern zones of the project.
The strike length of the Crawford project resource now spans over one kilometre.
Shares in Cavalier Resources were trading at 16 cents at 3:36 pm AEDT.
