- DGO Gold (DGO) has received promising results from its maiden reverse circulation (RC) drilling program at the Pernatty tenements in South Australia
- All up, 44 RC holes were drilled to test for copper targets on the Stuart Shelf
- Overall, grades peaked at 0.95 per cent copper, 0.1 per cent cobalt and 19.7g/t gold
- DGO is now in the process of planning follow up testing with work set to begin once government and heritage approvals are granted
- Shares in DGC are up 4.41 per cent on the market and are trading at $3.79
DGO Gold (DGO) has received promising results from its maiden reverse circulation (RC) drilling program at the Pernatty tenements.
The Pernatty tenements lie in the Eastern Gawler Craton of South Australia and are made up of 16 licences spanning 4730 square kilometres.
Of these 16 licences, 11 are held by DGO while five are held under a binding heads of agreement with Investigator Resources (IVR), under which DGO can earn an 80 per cent interest.
The aim of this maiden drilling program was to test for copper targets on the Stuart Shelf.
All up, 44 RC holes, for 3733 metres, were drilled across three targets at Pernatty.
Best results include one metre at 2 per cent copper equivalent (0.82 per cent copper, 0.1 per cent cobalt and 19.7g/t gold) from 75 metres and one metre at 1 per cent copper equivalent (0.95 per cent copper, 0.01 per cent cobalt and 4.5g/t gold) from 76 metres.
“The drilling has confirmed the potential for Zambian style model of copper mineralisation in this area of the Stuart Shelf,” Executive Chairman Eduard Eshuys said.
“DGO’s strategic landholding of greater than 100 kilometres of strike of the target zone puts us in a strong position to identify significant copper mineralisation in follow up drilling,” he added.
DGO is now in the process of planning follow up testing with work set to begin once government and heritage approvals are granted.
Furthermore, DGO has notified Investigator that it has chosen to earn a 51 per cent interest under the heads of agreement.
Shares in DGC are up 4.41 per cent on the market and are trading at $3.79 at 10:39 am AEST.