- Renascor Resources (RNU) has completed an 1896-metre drill program at its Carnding Gold Project in South Australia’s Central Gawler Craton
- The drilling was focused on the Soyuz prospect, targeting mineralisation at greater depths than previous holes and a number of promising anomalies
- Previous drilling at the prospect returned seven metres at 5.14 grams per tonne and six metres at 4.94 grams per tonne of gold
- Drill samples have now been sent off for assay, with results expected in approximately five weeks
- Renascor Resources is up 2.5 per cent to 4.1 cents per share
Renascor Resources (RNU) has completed an 1896-metre drill program at its Carnding Gold Project in South Australia’s Central Gawler Craton.
The drilling work was focused on the Soyuz prospect to the south of the wholly-owned property, where previous exploration returned seven metres at 5.14 grams per tonne of gold, including two metres at 16.42 grams per tonne, and six metres at 4.94 grams per tonne of gold.
Fourteen holes were completed, ranging from a depth of 84 metres to 162 metres.
Seven of these holes tested an east–west section of the prospect at 200-metre spacings and sought to extend the high-grade mineralisation identified during the earlier drilling at shallow depths and along strike.
The other seven holes targeted potential sulphide-bearing mineralisation roughly 300 to 500 metres further along strike, where a recent induced polarisation survey and soil sampling program unveiled a number of promising anomalies.
Drill samples have been sent off for assay and results are expected in approximately four to six weeks.
The Central Gawler Craton hosts a significant number of gold deposits around the southern and western edge of the Gawler Range Volcanic Province outcrop, including the Tarcoola gold mine, located 20 kilometres east of the Carnding Project, and the Tunkillia gold deposit.
The region has seen an increase in gold exploration and development activity recently, thanks in part to the proposed redevelopment of Tarcoola. Other activity has included Maromota Energy’s exploration of the Aurora Tank Project and its purchase of the Jumbuck Project from Tyranna Resources, as well as the acquisition of the Boomerang and Earea Dam prospects by Indiana Resources.
Renascor Resources is up 2.5 per cent to 4.1 cents per share at 10:29 am AEDT.