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Eastern Goldfields Ltd.
Summary
| Project: | Riverina | |
|---|---|---|
| Deposit: | Riverina | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-1-2017: Eastern Goldfields Ltd. announces an Exploration/Drilling Update report for its Riverina deposit at the Riverina project. Drilling results incl. 10m @ 1.65g/t Au from 72m. Eastern Goldfields Limited (ASX: EGS) (Eastern Goldfields or the Company | |
| Resources: | (Resource, I+I): 2.58Mt @ 2.50g/t Au for 207000oz Au contained at Riverina | |
| CP/QP: | [Overall Report]: Michael Thomson (Internal) | |
| ABSTRACT: | Eastern Goldfields Limited (ASX: EGS) (Eastern Goldfields or the Company) is pleased to announce results from drilling at its Riverina Deposit (Riverina), located approximately 160km north west of Kalgoorlie and 48km north of the Davyhurst Mill, within the North Eastern Goldfields of Western Australia (Figure 1). The Riverina Deposit has a current Resource of 2.58Mt @ 2.50g/t Au for 205,000 ounces and is one of several high priority drilling targets at the Davyhurst Project. It is at an advanced stage with a high proportion of oxide tonnes defined. The current drilling program is designed to infill and upgrade the existing Resource to be JORC 2012 compliant. The Company will also pursue numerous opportunities to extend the known Resource in areas that are currently constrained by a lack of drill holes. These results confirm and extend the significant drilling intersections previously released to the ASX on 12 January 2017. Hole RVRC10695 returned 10m @ 1.65g/t Au and was drilled 20 metres south of previously announced RVRC16095 that returned 12.0m @ 4.94 g/t Au. Holes RVRC16071 and 16073 returned 3.0m @ 4.25g/t Au and 2.0m @ 7.18g/t Au respectively and were drilled 20m and 50m metres north of previously announced RVRC16069 that returned 6.0m @ 3.93 g/t Au. Executive Chairman Michael Fotios said: “We are highly encouraged by the results flowing from the Riverina drilling program. This deposit is shaping up well and the drilling is rapidly improving our geological understanding of the controls on mineralisation. We look forward to continued success in this area which, along with the Callion deposit, remainsthe current focus of our drilling operations.” | |
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