- E79 Gold Mines (E79) kicks off a maiden drilling program over its Laverton South Gold Project in Western Australia
- The initial 2500-metre aircore drilling program commenced yesterday on a high priority target within the Pinjin joint venture
- The target reportedly consists of two lines of historic drilling that identified gold anomalism at the transported cover or saprolite interface and in saprolite
- E79 plans to complete drilling by February with results expected by April
- Shares have ended the day 2.08 per cent lower at 23.5 cents
E79 Gold Mines (E79) has kicked off its maiden drilling program over its Laverton South Gold Project in Western Australia.
The initial 2500-metre aircore drilling program commenced yesterday on a high priority target within the Pinjin joint venture.
The newly ASX-listed company has a farm-in agreement with St Barbara over the Pinjin project, which covers 139 square kilometres of prospective ground within the Laverton South Project located east-north-east of Kalgoorlie.
The target reportedly consists of two lines of historic drilling, spaced 600 metres apart, that identified gold anomalism at the transported cover or saprolite interface and in saprolite.
Additionally, anomalous gold mineralisation has been identified over a width of 300 metres with drillhole intercepts including eight metres at 0.35 grams per tonne (g/t) gold from 70 metres and four metres at 0.2g/t gold from 58 metres with both intercepts in bedrock.
The company notes that the mineralisation remains open along strike to the south and CEO, Ned Summerhayes said the company is excited to begin drilling.
“The first program is testing one of the walk-up drill targets within the Pinjin JV ground. We expect this program to continue through into the new year before undertaking programs on the Lake Yindana tenement.”
“We look forward to testing our key targets and keeping the market updated on our progress.”
Drilling is scheduled for completion in February, with all results expected back by April 2022.
Shares ended the day 2.08 per cent lower at 23.5 cents.