Join our daily newsletter At The Bell to receive exclusive market insights
- Gladiator Resources (GLA) has completed its aircore (AC) drilling program at the Marymia Gold Project in Western Australia
- The program included 31 holes for 1922 metres across the gold project
- However, this drilling experienced heavy delays due to COVID-19 and the availability of its drilling contractor
- Results are expected later this month and depending on these results, Gladiator may complete reverse circulation drilling
- Company shares are currently trading flat at 0.2 cents
Gladiator Resources (GLA) has completed its aircore (AC) drilling program at the Marymia Gold Project in Western Australia.
The Marymia Gold Project comprises granted exploration licence, E52/3104. It is located northeast of the 50 kilometre-long Plutonic Greenstone Belt which hosts the world-class Plutonic and Marymia gold mine centres.
The exploration licence is subject to renewal. In addition, Gladiator is waiting for its five-year extension application for E51/3104 to be renewed.
The Australia-based company drilled a total of 31 AC holes for 1922 metres across the project.
In early June, Gladiator received firm commitments for a $150,000 placement to complete drilling at the Marymia Gold Project, and for working capital.
Unfortunately, COVID-19 caused significant delays for the drilling program, which couldn’t start until early July. However, Gladiator experienced further delays due to its chosen drilling contractor, Harmec.
The drilling program formally started late last month.
Results are expected later this month — depending on the findings, Gladiator may complete reverse circulation drilling. This drilling will be aimed at following up on historic rotary air blast (RAB) intersections.
Furthermore, untested or poorly tested mafic mine sequence lithologies were identified in the north portion of E52/3104 and requires future work.
Company shares remain flat at 0.2 cents each at 12:36 pm AEST.
