- Redcastle Resources (RC1) sees high grade shallow gold results from the initial drilling program at its namesake gold project in Western Australia
- The company has successfully completed a 20-hole program, for 1259 metres, with numerous shallow high grade results achieved
- Intersections include one metre at 24 grams per tonne (g/t) gold from 23 metres and three metres at 8.94g/t gold from 28 metres
- RC1 will now expand the drilling program to follow up the results which will commence soon and will include auger sampling and additional RC drilling
- Company shares are up 16.7 per cent and trading at 2.1 cents per share at 1:13 pm AEST
Redcastle Resources (RC1) has seen high grade shallow gold results from the initial drilling program at its namesake gold project in Western Australia.
The company has successfully completed a 20-hole program, for 1259 metres, with numerous shallow high grade results achieved.
Intersections include one metre at 24 grams per tonne (g/t) gold from 23 metres and three metres at 8.94g/t gold from 28 metres, including one metre at 22.30g/t gold from 28 metres.
“Many holes have multiple gold bearing intersections,” the company told the market.
The drilling aimed to validate multiple drilling carried out between 1983 and 2008 by previous explorers.
Redcastle said the aim now is to expand the exploration program to include auger sampling of an anomalous 1.2-kilometre long structure and to further drill holes to test the extent of gold mineralisation.
Additionally, RC1 has secured an auger contractor and crew will be moved to the site soon to carry out the soil sampling program.
On the market, RC1 was up 16.7 per cent and trading at 2.1 cents per share at 1:13 pm AEST.