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- Gibb River Diamonds (GIB) discovers a new shoot, known as the Carlsen Shoot, at its Edjudina gold project in Western Australia
- The find follows the phase seven reverse circulation (RC) drilling program at the Neta prospect, which included a total of 16 holes and one RC extension tail
- Grades from the program peaked at 4.84 grams per tonne (g/t) gold
- Gibb River said these “excellent assay results” show the strong continuity of the Carlsen Shoot’s high grade ore and said the project possibly holds more of these shoots
- GIB shares are up 9.84 per cent and trading at 6.7 cents per share
Gibb River Diamonds (GIB) has discovered a new shoot, dubbed the Carlsen Shoot, at its Edjudina gold project, located in Western Australia.
The find follows the phase seven reverse circulation (RC) drilling program at the Neta prospect.
The new shoot is an ovoid body up to 30 metres wide and 60 metres in thickness, and plunges 55 degrees to the north. The shoot appears to be continuous from the surface and remains open at 170 metres in true vertical depth.
Under the phase seven drilling program, a total of 16 holes and one RC extension tail were drilled from 1992 metres with no accidents or lost time incidents.
Grades from the program peaked at 4.84 grams per tonne (g/t) gold.
Gibb River said these “excellent assay results” show the strong continuity of the Carlsen shoot’s high grade ore and surrounding lower grade exterior and clearly shows the shoot is maintaining both size and grade as it continues at depth.
“There is a strong possibility the Edjudina Project will host more of these Carlsen-style
mineralised shoots,” the company said.
Gibb River is currently planning the next drilling program to follow up these results.
GIB shares were up 9.84 per cent and trading at 6.7 cents per share at 10:39 am AEST.
