- Gascoyne Resources (GCY) confirms continuity and extended mineralisation at the Gilbey’s East prospect, within its Dalgaranga gold operations in WA
- Results include five metres at 7.8 g/t gold from 43 metres come from an ongoing drill program which aims to grow resources, ore reserves, and extend the mine life
- The latest round of assays delineated extensions both down-dip and along-strike of recent high-grade intercepts at the prospect
- Gascoyne has begun decommissioning and repositioning infrastructure at the prospect in preparation for larger-scale mining activities
- Shares are trading flat at 27 cents each at 1:16 pm AEST
Gascoyne Resources (GCY) has confirmed continuity and extended mineralisation at the Gilbey’s East prospect, within its Dalgaranga gold operations in WA.
The results come from the company’s ongoing drill program being completed across the Dalgaranga project, which aims to grow resources, ore reserves, and extend the mine life.
The latest round of assays delineated extensions both down-dip and along-strike of recent high-grade intercepts in the Gilbey’s Eastern Footwall area.
One of the best results intercepted five metres at 7.8 grams per tonne (g/t) of gold from 43 metres, including one metre at 30.1 g/t of gold.
The company said the Eastern Footwall is a substantial target for delivering mine life extensions due to the ease of drilling access and the presence of numerous high-grade mineralised horizons.
It has begun decommissioning and repositioning infrastructure at the prospect in preparation for larger-scale mining activities.
Meanwhile, GCY said assays from Gilbey’s South yielded “encouraging” gold grades.
It is currently working to bring several high-priority areas from the Eastern Footwall area and Gilbey’s South into the mine plan.
Managing Director and CEO Simon Lawson said being debt free with a 2.5 million tonnes per annum processing facility will unlock value for the project.
“We have a strong plan to increase the mine life at Dalgaranga and we are continuing to pursue the highest priority near-mine targets – which are continuing to generate some seriously good numbers,” he said.
Shares were trading flat at 27 cents each at 1:16 pm AEST.