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Draig Resources Ltd.
Summary
| Project: | Bellevue | |
|---|---|---|
| Deposit: | Tribune Lode | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-5-2018: Draig Resources Ltd. announces an Exploration/Drilling Update report for its Tribune Lode deposit at the Bellevue project. Drilling results incl. 4.4m @ 13.5g/t Au from 305.5m. The Tribune Lode is a Bellevue parallel structure located immediate | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Shane Hibbird (Internal) | |
| ABSTRACT: | The Tribune Lode is a Bellevue parallel structure located immediately to the west of the Highway Fault and the historic Bellevue underground mine. This largely untested area is obscured by shallow transported sand cover and lake sediment to the south and is known as the ‘Western Mineralised Corridor’. The mineralisation is high grade quartz lode style with well defined shoot control associated with a ductile shear network. Mineralisation has currently been tested for 550 metres of strike and is open to the north and south Executive Director Mr Steve Parsons commented: “This recent drilling and DHEM has indicated the high-grade mineralisation at Tribune is still very much open in every direction and we continue to be impressed with the robustness of the drill intersections. The Western Corridor is shaping up to be a very significant discovery for the Company. We look forward to updating the market on the results of the next phase of step-out & EM drilling at Tribune, deeper drilling, preliminary metallurgical testwork and the maiden resource estimate over the coming months” Mr Parsons also commented: “The Company is currently updating the geological model at Tribune with the latest drilling and is completing the next phase of the DHEM surveying with further drilling expected to resume with an RC rig and two DD rigs in the coming weeks targeting extensions of known high grade gold mineralisation and infilling the shallow portion of the discovery ready for future economic extraction study work. The Company sees significant potential of the Western Corridor to host additional mineralised Lodes highlighted by historical DHEM data. The company will be commencing a co-funded deep EIS hole as part of a deeper drilling program to target repeat mineralisation behind the Western Shear and below the historic Bellevue underground mine workings. We look forward to updating the market to the large amount of news flow anticipated in Quarters 2 & 3 of this year.” | |
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