- Gascoyne Resources (GCY) delivers an “exceptional” result from drilling at the Gilbey’s North prospect in WA
- DGRC1026 intersected 32 metres at 8.58 g/t gold from 167 metres including 14 metres at 16.4 g/t gold
- This intercept is situated 30 metres beneath a previous high-grade intercept which the company says demonstrates “open at depth” potential and mineralisation consistency
- Drilling is ongoing and is aimed at supporting a mineral resource estimate and extending the mine life of the Dalgaranga gold operations
- GCY shares are up 4.08 per cent to trade at 25.5 cents at 11:42 am AEST
Gascoyne Resources (GCY) has extended high-grade mineralisation at the Gilbey’s North prospect within its Dalgaranga gold operations in WA.
Ongoing resource drilling at the prospect delivered an “exceptional” result of 32 metres at 8.58 grams per tonne (g/t) gold from 167 metres downhole including 14 metres at 16.4 g/t gold.
This intercept comes from hole DGRC1026 and confirms a “significant” down-dip extension of a previous result in nearby hole DGRC0971. This hole previously returned an intercept of 54 metres at 6.55 g/t gold from 116 metres including 12 metres at 20.1 g/t gold.
The company said the latest intercept demonstrates the “open at depth” potential and further confirms the consistent width and continuity of the mineralised system at Gilbey’s North.
Gascoyne Resources is continuing to drill across the Gilbey’s North, East and South prospects, as well as a the Plymouth and Sly Fox targets. The company said this work will support resource and ore reserve growth to extend the mine life at Dalgaranga.
The company is currently completing a maiden mineral resource estimate for the Gilbey’s North prospect and expects it will be delivered by the end of August.
GCY shares were up 4.08 per cent to trade at 25.5 cents at 11:42 am AEST.