Greenstone Resources (ASX:GSR) hits further high-grade gold at Burbanks, WA

• Greenstone Resources (GSR) hits further high-grade gold intercepts at its flagship Burbanks gold project in Western Australia
• The company received results from its phase one drill campaign which it says “reaffirmed” the high-grade nature of the project, while also extending the known mineralised strike horizon by 25 per cent
• Drill results include three metres at 7.28 grams per tonne (g/t) gold from 131 metres, including one metre at 19.2 g/t gold from 132 metres
• Drilling is scheduled to resume this week, with the mobilisation of the first of two multipurpose drill rigs
• Greenstone Resources last traded at 3 cents at 10:52 am AEDT

Greenstone Resources (GSR) has hit further high-grade gold intercepts at its flagship Burbanks gold project in Western Australia.  

The company received results from its phase one drill campaign which it said “reaffirmed” the high-grade nature of the project, while also extending the known mineralised strike horizon by 25 per cent.

The recent results form part of the current 10,000-metre phase one drill campaign.

Results from the program included three metres at 7.28 grams per tonne (g/t) gold from 131 metres, including one metre at 19.2 g/t gold from 132 metres.

Additionally, five holes completed late last year to test the north prospectivity of the Burbanks Shear Zone returned intercepts including 1.32 metres at 6.68 g/t gold from 210 metres, including 0.32 metres at 20.4 g/t gold from 210 metres.

The company said this northern extension will form a “core component” of the latter two phases of drilling, which will be undertaken after phase one is completed in March.

“The current phase one drill campaign continues to exceed our expectations, highlighting the true geological potential of Burbanks,” Managing Director and CEO Chris Hansen said.

“We are now entering a transformational period for the company, where over the next six months we will seek to test the entire 5.5-kilometre strike horizon of the highly prospective Burbanks Shear Zone.”

Drilling is scheduled to resume this week, with the mobilisation of the first of two multi-purpose drill rigs. A second drill rig has been scheduled to arrive mid-February.

Once the current phase of drilling is complete, the company expects to deliver an updated resource estimate.

Greenstone Resources last traded at 3 cents at 10:52 am AEDT.