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Accelerate Resources (ASX:AX8) is speeding up its follow-up drilling at the Balagundi project near Kalgoorlie after discovering a new gold structure. Phase 2 AC drilling will commence later this month to further test the new north-west trending Delta gold structure, which was identified under transported cover.
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The explorer’s assay results have confirmed significant gold intercepts in multiple prospective positions to the north and north-west of the Paris Gift trend, significantly growing the project’s mineralised footprint.
“The discovery of the Delta trend is an important milestone at Balagundi, confirming significant gold mineralisation extends beyond the historically mined Paris Gift trend and showing additional mineralised structures exist beneath cover,” the company’s chief executive, Luke Meter, said today.
“We are now starting to see evidence of a multi-corridor gold system emerging, with structural repetition along the Balagundi mafic-dolerite package.”
Highlight recent hits include eight metres at 0.4 grams per tonne (g/t) from surface, 16 metres at 0.39 g/t from 16 metres and one metre at 1.47 g/t at the end of the hole. Results also confirmed gold mineralisation extending over 150 metres of strike along Delta, with the system remaining open.
Mr Meter noted the Delta trend aligns with three historic RAB intercepts drilled by Delta Gold in the late 1990s, which included 21m at 1.45 g/t from 21m.
The company is now examining if Delta links to an intersection of 4m at 1.16 g/t, which was drilled 600m to the south-east, opening up the potential for a wider continuous structural corridor. The Phase 2 AC program will focus on extending and confirming the orientation of a recently identified north-east gold trend.
Results will then be integrated with upcoming RC drilling to refine targeting and accelerate progress toward defining multiple mineralised centres at Balagundi.
Mr Meter said that while Balagund lies just 15km east of Kalgoorlie and close to Northern Star’s Kanowna Belle operation and the KCGM Super Pit, it remains underexplored after being privately held over the past 25 years, with extensive alluvial cover leading to highly prospective zones going untested.
AX8 has been relatively steady today and is fetching 0.7cps.
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