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- DiscovEx Resources (DCX) progressed its exploration plans over the September quarter, with work undertaken at the Sylvania and Edjudina projects in WA
- The company completed aircore drilling at Sylvania, with up to 76 ppb gold intersected and multiple geochemical targets prioritised for future drilling programs
- Meanwhile, DiscovEx completed a gravity survey across the Spartan anomaly at Edjudina, with the data confirming the location of a large intrusive body south of the anomaly
- Looking at its finances, DiscovEx spent just over $1 million on operating activities in the quarter and ended September with $3.45 million in total available funding
- DiscovEx opens lower this morning following its aftermarket quarterly report, down 14.29 per cent to 0.3 cents at 10:06 am AEDT
DiscovEx Resources (DCX) progressed its exploration plans over the September quarter, with work undertaken at the Sylvania and Edjudina projects in WA.
The company drilled 109 aircore holes, for 6060 metres, at Sylvania to test the Peak, Dingo, Hilditch, Bondinis and Carneys prospect areas.
Notably, this was the first-ever drilling completed in the area specific for gold and base metals.
Up to 76 parts per billion (ppb) gold was intersected, with the results highlighting multiple key structures that may potentially influence gold deposition.
Additionally, DiscovEx intersected up to 0.15 per cent nickel, 0.03 per cent cobalt, 0.12 per cent copper and 0.26 per cent zinc.
DiscovEx has prioritised a number of geochemical targets for future drilling programs.
Meanwhile, the company completed a 200-metre-by-200-metre gravity survey across the Spartan anomaly within the Edjudina project, with the work undertaken to provide detailed information regarding the geological setting.
Interpretation of the survey data confirmed the location of a large, intrusive body south of the anomaly and a smaller one to the west.
Drilling of the anomaly began in the September quarter, with initial results received prior to the end, with gold mineralisation identified across multiple horizons.
Looking at its finances, DiscovEx spent just over $1 million on operating activities in the quarter, with the majority going towards exploration and evaluation.
As of September 30, the company had $3.45 million in total available funding, representing 3.4 quarters of use if spending levels remain the same.
DiscovEx opened lower this morning following its aftermarket quarterly report, down 14.29 per cent to 0.3 cents at 10:06 am AEDT.
