- Resources & Energy (REZ) has received interim results from the second round of drilling at the Gigante Grande prospect in WA
- In November, a short drilling program was undertaken and results have continued to support the potential for the prospect to host a large-scale vein and gold deposit
- Resources & Energy has received results from 900 metres of a 1200 metre sampling program with grades peaking at 7.55g/t gold
- Further drilling will now be carried out in January with focus on both shallow and deep holes to test what is believed to be a preferred area for gold mineralisation
- Resources & Energy has ended the day 3.92 per cent in the red with shares trading at 4.9 cents
Resources & Energy (REZ) has received interim results from the second round of drilling at the Gigante Grande prospect.
Gigante Grande is part of the East Menzies Project which lies 130 kilometres north of Kalgoorlie in Western Australia.
A short drilling program was undertaken in November and results have continued to support the potential for Gigante Grande to host a large-scale vein and gold deposit.
Resources & Energy has received results from 900 metres of a 1200 metre sampling program with significant gold intervals encountered in five holes.
Best results include five metres at 3.59g/t gold from 199 metres including two metres at 7.55g/t gold from 199 metres, and one metre at 4.78g/t gold from 61 metres.
These results show that gold mineralisation is widespread and is found at a range of depths.
Further drilling will now be carried out in January with focus on both shallow and deep holes to test what is believed to be a preferred area for gold mineralisation.
Resources & Energy has ended the day 3.92 per cent in the red with shares trading at 4.9 cents in a $22.01 million market cap.