- Gascoyne Resources (GCY) intersects “outstanding” high-grade gold mineralisation at the Gilbey’s North prospect within the Dalgaranga gold project in WA
- Results have been received for three holes which were drilled up-dip of the thickest high-grade gold intercept seen to date at Dalgaranga
- Up to 72.8g/t gold was intersected in this recent drilling with results confirming the width and continuity of the mineral system
- Results have also come from Gilbey’s South and the Gilbey’s Eastern Footwall which enable GCY to modify the mine plan and improve ore access
- Gascoyne is up 9.76 per cent on the market with shares trading at 22.5 cents at 12:06 pm AEST
Gascoyne Resources (GCY) has intersected “outstanding” high-grade gold mineralisation at the Gilbey’s North prospect within the Dalgaranga gold project in WA.
Results have been received for holes DGR0957, DGR0958 and DGR0973 which were drilled up-dip of the thickest high-grade gold intercept seen to date at Dalgaranga.
New results include eight metres at 16.5g/t gold from 124 metres including one metre at 72.8g/t gold, and 33 metres at 2.89g/t gold from 21 metres including six metres at 8.3g/t gold.
These results confirm to width and continuity of the mineral system at Gilbey’s North.
Results have also been received for the Gilbey’s Eastern Footwall which enables Gascoyne to modify the near-term mine plan to extract additional ore during the second half of the year.
Results also come from Gilbey’s South and are assisting in the evaluation of a potential ramp access point to reduce the volume of waste movement and improve ore access for updated pit designs.
“These latest outstanding in-fill results at Gilbey’s North continue to illustrate the substantial nature of the gold mineralisation that we have discovered right on the edge of our main operating pit at Dalgaranga,” Managing Director and CEO Simon Lawson said.
“Importantly, recent drilling has revealed that the shallow high-grade mineralisation extends from surface in two different directions and is starting to show signs that the regional potential could be much bigger than even we could have imagined.
“We are especially intrigued by the westerly striking shear-zone style of high-grade gold mineralisation at Gilbey’s North, as this has not been seen at Dalgaranga before.”
Gascoyne was up 9.76 per cent on the market with shares trading at 22.5 cents at 12:06 pm AEST.