- Emerging gold explorer Cervantes (CVS) receives the first batch of results from drilling at the Blue Heaven prospect within the Primrose Gold Project
- CVS completed reverse circulation drilling in July which mainly aimed to convert Primrose’s exploration target to a mineral resource estimate
- Cervantes says the first lot of results are encouraging as they returned grades of up to 8.85 grams of gold per tonne (g/t) over three metres and 26.3g/t gold over one metre
- About 400 assays have been completed with about 2900 samples remaining at the Western Australian project
- CVS shares are up 12.5 per cent to trade at 0.9 cents at 12:43 pm AEST
Cervantes (CVS) has received the first lot of assays from a drilling program at the Blue Heaven prospect within the Primrose Gold Project in Western Australia.
The Primrose Gold Project covers more than eight kilometres of the highly gold mineralised Primrose Shear in WA’s Murchison district.
At the end of July, the company completed a 47-hole reverse circulation drilling program. Eight of these holes were twin holes of historical RC holes at Blue Heaven to help convert the exploration target to a mineral resource estimate.
An additional 33 holes were drilled to infill areas within the exploration target zones and to test for extensions of gold mineralisation.
The company has completed 399 assays from 3300 samples with assaying still ongoing for about 2900 samples.
The first batch of results includes three metres at 8.85 grams of gold per tonne (g/t) from 75 metres, three metres at 3.81g/t gold from 66 metres, one metre at 26.3g/t gold from 93 metres and one metre at 21.73g/t gold from 34 meres.
Positively for CVS, holes drilled to the west of the prospect extended mineralisation in that direction and drill holes along strike of known gold lodes within the exploration target suggest potential to extend mineralisation.
Cervantes Chairman, Robert Downey, was pleased with the results.
“Our drilling campaign was designed to advance the Blue Heaven exploration target, with the view of defining a resource,” Mr Downey said. “We’re encouraged by these significant intersections and eagerly anticipate receipt of the next batch of assays.”
The company’s main objective remains to define a mineral resource as well as new areas with potential to increase it.
CVS shares were up 12.5 per cent to trade at 0.9 cents at 12:43 pm AEST.