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Adelaide Resources Ltd.
Summary
| Project: | Eyre Peninsula | |
|---|---|---|
| Deposit: | Baggy Green | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-11-2016: Adelaide Resources Ltd. announces an Exploration/Drilling Update report for its Baggy Green deposit at the Eyre Peninsula project. Drilling results incl. 8m @ 1.53g/t Au from 44m. The wholly owned Baggy Green gold prospect is located less than | |
| Resources: | (Resource, I+I): 2.11Mt @ 1.6g/t Au for 107000oz Au contained at Barns | |
| CP/QP: | [Overall Report]: Chris Drown (Drown Geological Services Pty Ltd.) | |
| ABSTRACT: | The wholly owned Baggy Green gold prospect is located less than six kilometres from the Barns gold deposit on the Eyre Peninsula gold project which comprises eight tenements covering 2,807 km2 in the Gawler Craton (Figures 1 and 2). On 4 November 2016, the Company announced the results from the first ten Reverse Circulation (RC) holes from a drill programme which totalled 23 holes for 2,515 metres at Baggy Green. These results included the two best intersections recorded to date from the prospect. Adjacent 50 metre spaced holes BGRC-1222 and BGRC-1223 respectively recorded 16 metres at 5.72g/t gold and 11 metres at 9.32g/t gold. Assaying of drill samples from the last 13 holes has been completed, with further gold intersections returned. Table 1 (page 7) includes a listing of the gold intersections in all 2016 programme holes, along with drill hole collar location and set-up information. Three adjacent 50 metre spaced holes on the southern-most section drilled during the programme returned gold intersections from the targeted shallow westerly dipping mineralised structure (Figure 3). Hole BGRC-1238 recorded 11 metres at 1.00g/t gold from a downhole depth of 36 metres (vertical depth of 32.6m). BGRC-1239, drilled 50 metres west, intersected 8 metres at 1.53g/t gold from 44 metres downhole, including 2 metres at 4.74g/t. BGRC-1240, drilled 50 metres further west, recorded 4 metres at 1.44g/t gold from 82 metres downhole, and a second zone of 8 metres at 0.65g/t gold from 95 metres downhole. The intersections quoted in each of these holes are internal to two subparallel zones of mineralisation which appear to be thickening in the downdip direction. Mineralisation remains open down-dip and to the south presenting future drill targets. | |
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