- Laneway Resources (LNY) continues to report high-grade gold assays from the Sherwood and Sherwood West deposits at its Agate Creek gold project in North Queensland
- All results have now been received for a reverse circulation drilling program undertaken earlier this year to confirm the interpreted intrusive related gold system potential
- Laneway intersected up to 34.40 g/t gold, with the results continuing to confirm extensions of the previously mined veins that host narrow high-grade gold zones
- Meanwhile, results are still pending for the diamond drilling undertaken to assess geotechnical constraints for pit designs
- Laneway shares are grey at 0.5 cents per share at 12:42 pm AEST.
Laneway Resources (LNY) has continued to report high-grade gold assays from the Sherwood and Sherwood West deposits at its Agate Creek gold project in North Queensland.
All results have now been received for the reverse circulation (RC) drilling program undertaken to confirm the interpreted intrusive related gold system (IRGS) potential.
The drilling targeted the interpreted extensions and repetitions at Sherwood and Sherwood West, as well as the deeper interpreted high-grade zones below Sherwood.
Standout results from Sherwood include one metre at 34.40 grams per tonne (g/t) gold from 116 metres, one metre at 9.40 g/t gold from 43 metres and one metre at 6.37 g/t gold from 64 metres.
Meanwhile, significant results from Sherwood West include 8.4 metres at 4.46 g/t gold from 12 metres including 1.2 metres at 12.2 g/t gold from 13.2 metres, and 7.2 metres at 5.97 g/t gold from 14.4 metres including 2.4 metres at 10.55 g/t gold from 18 metres.
Laneway said the results continued to confirm extensions of the previously mined veins as well as previously identified almost parallel systems that host narrow high-grade gold zones.
“These results are being incorporated into pit designs for the current mining activities at Agate Creek, and with the progress being made towards the restart of the Georgetown Gold Processing Plant, Laneway has a clear pathway to monetise the expanding high-grade mineral resource being outlined at Agate Creek,” Laneway Managing Director Brad Gordon said.
The company is still awaiting assay results for diamond drilling undertaken in the area to assess geotechnical constraints for pit designs.
Laneway shares were grey at 0.5 cents per share at 12:42 pm AEST.