- Gladiator Resources (GLA) has finalised initial exploration programs for its Rutherglen and Bendoc gold projects in Victoria
- The company will conduct a high-resolution airborne magnetic survey at Rutherglen to focus on a 16.8-kilometre exploration target
- In addition, at least 5000 metres of drilling is planned to validate the target
- Drilling at the Bendoc Project will focus on the Victoria Star prospect where previous exploration has shown a large gold-arsenic anomaly
- Beyond this, Gladiator plans to conduct phased resource definition drilling next year to eventually release a maiden resource estimate for Bendoc
- Company shares are down 14.3 per cent and trading for 0.3 cents in early morning trade
Gladiator Resources (GLA) has finalised an initial exploration program for its Rutherglen and Bendoc gold projects in Victoria.
The exploration is aimed at validating an exploration target at Rutherglen and validating previous drill data at Bendoc for a mineral resource estimate.
The Rutherglen
The Rutherglen Gold Project is located around 30 kilometres west of Albury and Wodonga. It lies in the historic Rutherglen – Chiltern Goldfield which produced more than 1.4 million ounces between the 1860s and 1920.
Gladiator believes the 16.8-kilometre exploration target for Rutherglen has potential for between 260,000 and 529,000 ounces within three lead sections grading between four grams per square metre and 7.9 grams per square metre.
The company will conduct a high-resolution airborne magnetic survey which is expected to begin in December once a contractor and equipment become available.
The survey is expected to generate multiple anomalies representing potential buried paleochannels that will require follow-up test work.
Gladiator also plans to undertake at least 5000 metres of drilling to validate the exploration target. Following this, it may conduct detailed resource drilling to establish lead thickness, total area and gold grade for a future mineral resource estimate.
This drilling is expected to begin in the first quarter of next year.
The Bendoc
The Bendoc covers 220 square kilometres over the historic Bendoc, Bonang and Clarkesville goldfields.
Work at Bendoc will focus on the Victoria Star prospect. Previous exploration has shown a large gold-arsenic anomaly within a soil grid on historic workings.
Gladiator Resources is preparing an initial 500-metre reverse circulation drilling program and expects to lodge a work plan in November.
This is aimed at validating the previous drilling and to better define the current geological model. Drilling is expected to be completed before the end of the quarter.
Beyond this, the company plans to conduct phased resource definition drilling next year. The staged programs will be guided by the results of each stage and will eventually lead to a maiden resource estimate by the end of next year.
Company shares are down 14.3 per cent and trading for 0.3 cents in early morning trade.