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Draig Resources Ltd.
Summary
| Project: | Bellevue | |
|---|---|---|
| Deposit: | Tribune Lode | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-5-2018: Draig Resources Ltd. announces an Exploration/Drilling Update report for its Tribune Lode deposit at the Bellevue project. Drilling results incl. 4.3m @ 8.8g/t Au from 575.3m. New high grade mineralised gold zone intersected in latest drilling | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Shane Hibbird (Internal) | |
| ABSTRACT: | New high grade mineralised gold zone intersected in latest drilling targeting the Bellevue underground mine extension. Results include: Draig Resources is pleased to update the market on results of the company’s first deeper drill hole designed to test the area known as the “Gap” targeting the offset and extension of the historic high-grade Bellevue Lode position. The drill hole was collared in the Western Mineralised Corridor and initially intercepted the Tribune Lode discovery as anticipated at a depth of 308 meters (assays pending) and continued into the footwall where a significant mineralized shear was intercepted at a depth from 575.3 meters downhole. The company has commenced a step-out drill program to understand this potentially significant mineralised zone. The Company is pleased to acknowledge the support of the West Australian government with this drill hole being co-funded by the Exploration Incentive Scheme (EIS). Executive Director Mr Steve Parsons commented: “The company is very excited with this initial drill hole and the high-grade gold mineralisation that has been intercepted. The drill hole was designed to test the potential of the offset and extension of the Bellevue Lode which historically produced 800,000oz @ 15gt gold down to only 450 metres below surface. The new mineralised intercept is only 500 meters below surface and is located 190 meters west of the southern extent of previous underground mine workings. The company is highly encouraged by the observed style of mineralisation and grade tenor in the hole, and the significance of the mineralised gold zone is currently being assessed by the technical team. The Company will now undertake a broad spaced step out drill program within the 1200 metres of untested strike potential of the Tribune Footwall known as the ‘Gap’. | |
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