- Bardoc Gold (BDC) shares close red following the latest round of drilling results from two key zones at the company’s namesake gold project
- Drilling at the Zoroastric deposit at the Bardoc Gold Project confirms mineralisation extensions at the Blueys South and Zoroastrian South lodes
- Another diamond hole strikes a 4.5-metre intersection at 3.53 g/t gold from 102 metres at the Royal Mint area
- Drilling at Zoroastrian is still ongoing, and Bardoc says it plans to incorporate the results from the drilling into an updated resource model
- Shares in Bardoc Gold close 3.08 per cent lower at 6.3 cents each
Bardoc Gold (BDC) shares closed red this afternoon following the latest round of drilling results from two key zones at the company’s namesake gold project.
The company told investors this morning drilling at the Zoroastrian deposit at the Bardoc Gold Project has confirmed that mineralisation extends for more than 150 metres below the existing resource at the Blueys South and Zoroastrian South lodes.
The company said the results highlighted the scope for further gold inventory growth at the Zoroastrian deposit.
Deep diamond drilling struck the Blueys South and Zoroastrian South lodes down-plunge of the existing mineral resource, with the best hits including a six-metre zone grading 2.44 grams of gold per tonne (g/t gold) from 460 metres and a one-metre zone grading 11.7 g/t gold from 466 metres.
Bardoc said these results are in line with the overall resource grade of the area of 2.2 g/ gold.
Another diamond hole was drilled to test extensions to the Blueys and Royal Mint zones of the project area, with this hole striking a 4.5-metre intersection at 3.53 g/t gold from 102 metres at Royal Mint.
Bardoc CEO Robert Ryan said the latest results supported the company’s view that there was “immense potential” to grow the inventory and the mine life at the Zoroastrian deposit.
“The diamond drilling program we commenced in August has already confirmed the presence of mineralisation 150 metres below the current resource envelope, providing strong evidence for what we have long suspected — that the multi-lode system at Zoroastrian extends at depth,” Mr Ryan said.
“In addition to the immediate opportunity to grow the resource and reserve, this also highlights the future opportunity to continue to grow the deposit from underground drilling positions.”
He said Zoroastrian was one of three cornerstone deposits at the Bardoc Gold Project and increasing the inventory and mine life for this zone would improve the wider project’s forecast financial returns.
Bardoc’s drilling program at Zoroastrian is still ongoing, and the company said it planned to incorporate the results from the drilling into an updated resource model.
Meanwhile, Bardoc plans to make a final investment decision for the mine before the end of 2021.
Shares in Bardoc Gold closed 3.08 per cent lower this afternoon at 6.3 cents each. The company has a $101.5 million market cap.