- Shares in Gibb River Diamonds (GIB) have more than tripled in value today after a gold discovery at the Neta Prospect, within the Edjudina Gold Project
- The company has reported results from its recent 66 hole aircore drilling program, which include 36 metres at 3.97g/t of gold from four metres
- In July, Gibb entered an option to purchase the Edjudina gold project, which is located in Western Australia
- Executive Chairman, Jim Richards, will attend the Diggers and Dealers Conference in Kalgoorlie next week, where he will discuss the new Neta discovery
- Meanwhile, Gibb River’s field crew is currently mobilising to Edjudina to begin a survey early next week
- On the market this afternoon, Gibb is up 267 per cent and is trading for 16.5 cents per share
Shares in Gibb River Diamonds (GIB) have more than tripled in value today after a gold discovery at the Neta Prospect, within the Edjudina Gold Project.
The company has reported results from its recent aircore drilling program, which found all mineralisation open to the north, south and at depth. Results include 36 metres at 3.97g/t of gold from four metres.
The program consisted of 66 holes at 2755 metres and all holes were drilled at a 60-degree dip.
In July, Gibb entered into an option to purchase the Edjudina gold project, which is located in the heart of the Eastern Goldfields of Western Australia.
It took the company only three months to complete a drilling program from the time it announced the option agreement.
“To make a major new discovery on this field, including wide intersections of
high grade mineralisation from surface, in under three months from acquiring the project option, is a testament to the hard work and abilities of the team at Gibb,” the company said.
Executive Chairman, Jim Richards, will attend the Diggers and Dealers Conference in Kalgoorlie next week, where he will discuss the new Neta discovery on Thursday, October 15.
Meanwhile, Gibb River’s field crew is currently mobilising to Edjudina to being a survey early next week. This survey is for the drillhole collars and will undertake further grab sampling.
On the market this afternoon, Gibb is up 267 per cent and is trading for 16.5 cents per share at 12:50 pm AEDT.