- Gascoyne Resources (GCY) has seen early exploration success at its Tanqueray prospect, located within the Dalgaranga gold project in Western Australia
- Late last year, the company completed infill aircore lines on a 100 metre spacing at the prospect
- Results from this have now been received and returned a significant intersection of eight metres at 373.5g/t of gold
- Additionally, three follow-up reverse circulation holes targeting up and down-dip of the aircore intersection has also been completed
- On market close, Gascoyne Resources is up 4 per cent and trading at 52 cents per share
Gascoyne Resources (GCY) has seen early exploration success at its Tanqueray prospect, located within the Dalgaranga gold project in Western Australia.
The Tanqueray prospect is located around two kilometres northwest of the Dalgaranga processing plant in an area that is interpreted to be an east-west trending structural.
In mid-2018, two reverse circulation (RC) drill holes were drilled to test beneath the strongest aircore intersections at the eastern end of Tanqueray.
The shallowest RC hole returned the highest grade of mineralisation ever seen at Dalgaranga, with an intersection of eight metres at 373.5g/t of gold from 53 metres downhole. Follow-up drilling was carried out in 2018.
Late last year, infill aircore lines, on a 100-metre spacing, was completed at the prospect.
Results from this have now been received and returned a significant intersection of eight metres at 373.5 g/t of gold from 53 metres downhole, including three metres at 987 g/t of gold.
Additionally, three follow-up RC holes targeting up and down-dip of the aircore intersection has also been completed.
Results from this include eight metres at 3.1g/t of gold from 125 metres and nine metres at 7.0g/t of gold from 138 metres, including three metres at 15.8g/t of gold.
A high priority RC drilling program will commence later this month to follow up on these results and test for extensions to the primary fresh rock mineralisation.
On market close, Gascoyne Resources is up 4 per cent and trading at 52 cents per share.