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GoldArc Resources (ASX:GA8) has identified new mineralised systems within the Leonora South gold project with a successful maiden RC drilling program at the WA asset.
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The program hit high-grade, near-surface gold mineralisation at the Woodpecker, Whistler and Niagara West prospects.
GoldArc’s MD, Paul Stephen, said high-grade assays confirmed near-surface gold mineralisation at Woodpecker; a discovery at the previously undrilled Whistler returned one metre at 3.56 grams per tonne from 12 metres.
“These results provide a strong validation of our exploration model at Leonora South. To see high-grade mineralisation in 1.0m at 25.21 g/t in our first-pass, shallow drilling campaign is an excellent outcome,” he said.
“Particularly exciting in the Whistler prospect, which had never been drilled before. We have barely scratched the surface… and we are eager to commence our next RC campaign to further unlock the potential of this project.”
The maiden RC drilling program comprised 37 holes for a total of 1,823m and tested historical gold workings where little to no historical drilling had occurred.
Mr Stephen said the program successfully intercepted numerous anomalies and ore-grade gold mineralisation, providing critical data on the dip of mineralised zones, geology and weathering profiles required for follow-up targeting.
The company is fast-tracking exploration at Leonora South with an approximately 2,000m maiden RC drilling program scheduled to commence soon at the historic Cosmopolitan old workings to evaluate gold potential.
(Cosmopolitan was originally ranked as one of the largest and most profitable gold mines in Western Australia in the early 20th century.)
Elsewhere, an approximately 1,200m RC follow-up drilling program will kick off in late March at the Woodpecker and Whistler prospects and an approximately 6,000m RC follow-up/development drilling program is scheduled to commence in early March at the Orion, Sapphire, Eclipse, and Euroa deposits.
Goldarc is also preparing to begin an approximately 30,000m RC program in early March at Mt Stirling and Mt Stirling Well to support resource development.
GA8 is up +2.94% to 7c. Mkt cap $38.93M.
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