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- REZ has gotten reverse circulation drilling underway at Goodenough, East Menzies Gold Project in Western Australia.
- The 1,000m program is targeting extensions to existing mineralisation
- Infill component will lift MRE to an “Indicated” level.
Resources & Energy Group (ASX: REZ) has kicked off reverse circulation (RC) drilling at the Goodenough, East Menzies gold project in Western Australia.
The start of the program comes hot on the heels of a significant upgrade to the Goodenough mineral resource estimate, which increased the resource to 1.36 million tonnes at 1.40 grams per tonne for 61,200 ounces of gold.
REZ MD and CEO, Daniel Moore, said drilling is targeting strike extensions beyond the current resource boundary with infill drilling to improve resource classification, with the aim of growing the total ounce inventory.
The RC program of ~1,000 metres is focused on areas to the southwest and east of the current mineral resource, where mineralisation remains open.
The infill drilling component is designed to upgrade the MRE classification from inferred to indicated. REZ is also testing near-surface high-grade targets identified from historical underground mining records, supported by recent surface mapping and geological interpretation.
Goodenough has a long history of high-grade production from historical underground mining. Past REZ drilling returned encouraging near-surface intercepts, with mineralisation remaining open along strike and at depth.
Menzies is one of WA’s major historic gold fields, and is located 130km north of Kalgoorlie. It has a rich history; gold was first discovered in the area in 1894.
REZ is steady at 1.2¢. Mkt cap $10.98M.
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