- Gascoyne Resources (GCY) delivers a new record intercept at its Dalgaranga gold project in WA
- The company drilled a series of holes to test the newly named Never Never lode, part of the recently discovered Gilbey’s North extension
- A thick, plunging lode system confirmed the high-grade western extension, returning record results of 59 metres at 12.5 g/t gold including 13 metres at 51.1 g/t gold
- Two drill rigs are currently spinning at the Never Never lode as the company continues to aggressively chase the target
- GCY shares are up 27.8 per cent, trading at 34.5 cents at 12:42 pm AEST
Gascoyne Resources (GCY) has delivered a new record intercept from its Gilbey’s North prospect at its Dalgaranga gold project in WA.
The company drilled a series of holes northward to test the possible true width, orientation and extent of the newly named Never Never lode, part of the recently discovered Gilbey’s North extension.
Recent high-grade gold intercepts from the Never Never lode included 54 metres at 6.55 grams per tonne (g/t) gold from 116 metres down-hole, including 12 metres at 20.1 g/t gold.
A thick, plunging lode system confirmed a high-grade western extension to the Gilbey’s North prospect, returning results including 59 metres at 12.5 g/t gold from 139 metres, including 13 metres at 51.1 g/t gold.
“It’s not every day that you see results like this in the WA gold sector and we are incredibly excited by the potential of this newly discovered lode system on the western edge of the Gilbey’s North discovery,” Managing Director and CEO Simon Lawson said.
“I have seen some amazing gold and world-class mineralisation, but I have never seen consistent grades and thicknesses come from a new target like this.”
Two drill rigs are currently spinning at the Never Never lode as the company continues to aggressively chase the target.
“We will change the future of Gascoyne one drill-hole at a time,” Mr Lawson said.
Gascoyne Resources shares were up 27.8 per cent, trading at 34.5 cents at 12:42 pm AEST.