- Lycaon Resources (LYN) completes the first phase of reverse circulation drilling at its Rocky Dam gold project located 60 kilometres northeast of Kalgoorlie, Western Australia
- Drilling consisted of eight drill holes, for a total of 1920 metres, to investigate below the significant supergene mineralisation recorded to date
- Numerous occurrences of strong alteration were said to be observed with quartz veining, which may be associated with gold mineralisation
- Assay results are expected in mid-March
- Shares in Lycaon are trading up 5.26 per cent to close at 40 cents
Lycaon Resources (LYN) has completed the first phase of reverse circulation drilling at its Rocky Dam gold project located 60 kilometres northeast of Kalgoorlie, Western Australia.
Drilling consisted of eight drill holes, for a total of 1920 metres, to investigate below the significant supergene mineralisation recorded to date.
Numerous occurrences of strong alteration were said to be observed with quartz veining, which may be associated with gold mineralisation.
Lycaon said the drilling program was a high priority to better understand potential controls on mineralisation to expedite future drilling programs.
Throughout the remainder of the tenure, ongoing geophysical, geochemical and geological review is expected to be undertaken to assist with new target identification and planning of further exploration programs.
Technical Director Thomas Langley said he’s looking forward to receiving the assay results in mid-March and to building knowledge of the mineral system at Rocky Dam.
“We are pleased we were able to secure a drill rig early in the year to test for extensions of the historical high-grade gold intersections of up to 13.8 grams of gold per tonne and extensive supergene mineralisation at Rocky Dam,” he said.
Shares in Lycaon were trading up 5.26 per cent to close at 40 cents.