- Codrus Minerals (CDR) highlights potential for a large scale gold system at its Red Gate gold project in WA
- The company recently completed a 2350-metre reverse circulation drilling program which extended known mineralisation in the area
- Mineralisation has now confirmed over 800 metres of strike with multiple zones of mineralisation open both along strike and down plunge
- Codrus said it is “very encouraged” by the results received as they continue to highlight a potential “significant scale” mineralised system
- CDR shares end the day 12 per cent in the green to close at 8.4 cents
Recent drilling at Codrus Minerals’ (CDR) Red Gate gold project in WA has highlighted potential for a large-scale gold system.
The company recently completed a 2350-metre reverse circulation (RC) drilling program which extended known mineralisation in the area.
Mineralisation has now confirmed over 800 metres of strike with multiple zones of mineralisation open both along strike and down plunge.
Significant results from the drilling include 10 metres at 1.19 grams per tonne (g/t) gold from 52 metres including one metre at 5.51g/t gold from 58 metres and 14 metres at 1.06g/t from 18 metres including two metres at 3.97g/t gold from 18 metres.
Codrus said it is “very encouraged” by the results received as they continue to highlight a potential “significant scale” mineralised system.
“Our second phase of RC drilling at Red Gate has delivered very encouraging results over a significant area. The purpose of the program was to scope out the broader potential of the mineralised system and improve our understanding of the geological context and structural controls on the mineralisation,” Managing Director Shannan Bamforth said.
“Most of the individual zones of mineralisation encountered remain open along strike and down-plunge. This highlights the significant opportunity to define resources with further drilling.”
Project planning and evaluation for future work is underway.
CDR shares have ended the day 12 per cent in the green to close at 8.4 cents.