- Westgold Resources (WGX) receives results from early-stage exploration drilling at the Sovereign Reef discovery indicating high-grade gold intercepts
- Best intersections from the three reverse circulation drilling holes include 8.5 metres at 4.84 grams per tonne (g/t) gold from 218 metres including 4.4 metres at 8.01 g/t gold , and 8.5 metres at 1.87 g/t gold from 229.5 metres
- These intersections are considered “highly encouraging” as the two most easterly holes intersected highly promising quartz reef and associated alteration systems typical of the Great Fingall and Golden Crown deposits
- A follow-up drill program is expected to commence in July which will target up-dip positions closer to surface
- Shares in Westgold are down 2.26 per cent, trading at $1.30 as of 10:10 am AEST
Westgold Resources (WGX) has received results from early-stage exploration drilling at the Sovereign Reef discovery indicating high-grade gold intercepts.
The discovery is at the Day Dawn mining area, approximately 300 metres into the hanging wall of the historic Great Fingall mine and about the same distance into the footwall of the Golden Crown mine.
These two operations collectively produced more than 1.5 million ounces of gold from high grade quartz reef systems hosted within the highly prospective Great Fingall Dolerite.
Best intersections from the three reverse circulation holes include 8.5 metres at 4.84 grams per tonne (g/t) gold from 218 metres including 4.4metres at 8.01 g/t gold in hole 22GFRD003, and 8.5 metres at 1.87 g/t gold from 229.5 metres in hole 22GFRD002.
These intersections are considered “highly encouraging” as the two most easterly holes intersected highly promising quartz reef and associated alteration systems typical of the Great Fingall and Golden Crown deposits.
Managing Director Wayne Bramwell said the early assays tick all the boxes as they are high-grade, relatively shallow and located “in the right address.”
“Westgold’s exploration team is now accelerating the Sovereign program to determine the potential of this linking reef structure proximate to our iconic high grade Great Fingall and Golden Crown reefs,” Mr Bramwell said.
The follow-up drill program is expected to commence in July which will target up-dip positions closer to surface.
Westgold’s exploration team is said to also actively drilling a number of other high priority exploration targets across its large Murchison tenement portfolio and will report results as they become available.
Shares in Westgold were down 2.26 per cent, trading at $1.30 as of 10:10 am AEST.