Ordell Minerals Ltd (ASX:ORD) has intercepted shallow and high-grade gold – including up to 47.5 grams per tonne (g/t) – at its Barimaia gold project in Western Australia.
The results were yielded from a second phase of shallow reverse circulation (RC) drilling targeting the McNabs East prospect, with one hole recording 29 metres at 2.52g/t from 81 metres, including one metre at 47.5g/t from 107m (visible gold present).
Another picked up four metres at 9.62g/t from 59 metres, including one metres at 32.7g/t from 60 metres.
The drilling work means Ordell has been able to define an extensive zone of gold mineralisation at the prospect, with this occurring at shallow depths and over a strike length of more than 1,000 metres (while also being open along strike and untested at depth).
Ordell is also inspired by the fact mineralisation here appears to suggest an Eridanus-type deposit, being associated with an interpreted granodiorite intrusion.
Managing director Michael Fowler said he was pleased with the evidence of high-grade gold at the project.
“Our second drill program at Barimaia has delivered some great results, with wide zones of shallow gold mineralisation intersected within the targeted felsic intrusion host rock,” he said.
“Importantly, a number of high-grade gold results were returned from the program which are open at depth and along strike.
“This shows the potential of the mineralised system, which is beginning to take shape, pointing to significant future growth opportunities as our drilling programs advance.”
Ordell shares rose on the news, and at 10:28 AEDT, they were trading at 25.5 cents – a rise of 15.91% since the market opened.
Join the discussion: See what HotCopper users are saying about Ordell and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.