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- After a positive initial program, Resources and Energy (REZ) has begun a six-hole drilling program at the Gigante Grande prospect
- This prospect is part of REZ’s flagship East Menzies Project in WA
- Initial drilling aimed to discover a large vein and shear-hosted gold system and, pleasingly, managed to extend gold mineralisation to 1.2 kilometres
- Moving forward drilling will test potential extensions to gold mineralisation as well as deepen to existing drill holes
- Shares are trading 2.9 per cent higher for 7.1 cents
Resources and Energy (REZ) will commence a six-hole drilling program at the Gigante Grande prospect immediately.
The 1170-metre drilling begins today after the success of the initial drilling program, which aimed to discover a large vein and shear-hosted gold system at the prospect.
Gigante Grande is part of the East Menzies Project, which is located just 130 kilometres north of Kalgoorlie in Western Australia.
Recently, the strike length at the prospect was extended after REZ received gold results that peaked at 3.85g/t.
The company undertook a step-out drilling program around 700 metres from the southernmost exploration hole. Not only did drilling extend mineralisation, it also uncovered multiple gold zones across three boreholes
Drilling will now test the gold mineralised extents over the 1.2 kilometres of strike.
The drilling program will also deepen two holes from previous drilling. One of the holes was drilled to a planned depth of 132 metres however results showed the bore was still in mineralisation (one metre at 0.69g/t gold from 131 metres) at completion.
The other hole is being deepened to test a suspected ENE-WSW fault splay which originated from the Moriarty Shear Zone – a target which forms part of the project’s eastern tenement package.
Shares are trading 2.9 per cent higher for 7.1 cents at 2:48 pm AEDT.
