- Gibb River Diamonds (GIB) identifies two new gold targets at its Edjudina project in the Eastern Goldfields region of Western Australia
- The results come from 98 aircore drill holes completed during November as part of the company’s Phase 6 program
- At the Ace of Hearts and Triumph prospects, Gibb River has identified two targets with a strike over 300 metres which it says provides “excellent” follow-up potential
- All data from Edjudina is being reviewed, with a view to target porphyry-style gold although further reconnaissance drilling is required over the 13 kilometre strike
- Shares have been trading 3.8 per cent higher at 8.2 cents each
Gibb River Diamonds (GIB) has identified two new gold targets at its Edjudina project in the Eastern Goldfields region of Western Australia.
The latest results come from a Phase 6 aircore drilling program which was undertaken over most of November and saw 98 holes drilled.
Due to wet weather and lightning shutdowns, the company lost several days of work and results have been reported later than expected due to large third party sample loads at the assay laboratory.
In targeting the greenfields Ace of Hearts prospect and the historic Triumph prospect, the program identified two new 300-metre-plus strike length targets for follow-up drilling.
At Ace of Hearts, drilling returned an intercept of three metres at 1.2 grams per tonne (g/t) gold from 20 metres, and mineralisation was identified to be open both up and down dip and over a strike length of 360 metres.
According to Gibb River, this provides an “excellent” target for follow-up drilling and the company said it may prove to be a “significant” discovery.
Drilling at Triumph delineated a 300-metre mineralised target zone with mineralisation encountered in every drill hole.
Additionally, at the Neta prospect, infill drilling confirmed the consistency of gold mineralisation to surface with an intercept of 26 metres at 1.09 g/t gold from surface.
Numerous drillholes also returned significant gold intersections within intrusive porphyries, which Gibb River said has generated a “new and exciting” exploration model for the project.
The company is reviewing all data from Edjudina with a view to target porphyry-style gold. However, it said further reconnaissance drilling is still required over the 13-kilometre strike.
Shares in Gibb River Diamonds were trading 3.8 per cent higher at 8.2 cents each as of 11:36 am AEDT.