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Eastern Goldfields Ltd.
Summary
| Project: | Davyhurst | |
|---|---|---|
| Deposit: | Walhalla North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/18/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 18-7-2016: Eastern Goldfields Ltd. announces an Exploration/Drilling Update report for its Walhalla North deposit at the Davyhurst project. Drilling results incl. 9.80m @ 5.57g/t Au from 32.0m. Eastern Goldfields Limited (ASX:EGS) (Eastern Goldfields or t | |
| Resources: | (Resource, Total): 18.7Mt @ 2.3g/t Au for 1.37Moz Au contained at Davyhurst Total | |
| CP/QP: | [Overall Report]: Michael Thomson (Internal) | |
| ABSTRACT: | Eastern Goldfields Limited (ASX:EGS) (Eastern Goldfields or the Company) is pleased to announce that diamond drilling at its Davyhurst Project in Western Australia has returned encouraging results. Assay results from 2 diamond core holes drilled into the Walhalla North Project (WNP) have confirmed mineralisation reported in recent RC drilling. Both diamond holes intersected broad zones of mineralisation close to surface with results of 9.80m @ 5.57g/t from 32.0 metres and 25.60m @1.57g/t from 24.0 metres. Based on a re-evaluation of the deposit, all intercepts are reported at 0.5g/t. Results were previously reported at 1g/t (see ASX release dated 15 June 2016). The WNP is approximately 14 kilometres south of the Company’s 1.2Mtpa processing plant and is situated midway between the Federal Flag and Walhalla open pits which are 1.1 kilometres apart. The Walhalla and Federal Flag deposits were both mined in 2007 and 2008 as part of the greater Davyhurst Project. The diamond holes were designed to provide further technical data on the style of mineralisation and alteration. Mineralisation appears to be related to sub-vertical quartz veining and an increase in sulphides. Of significance, a possible NNW striking fault identified on a magnetic image, transects the deposit (Figure 2). The broad zone of near surface mineralisation in WADD002 (25.60m @ 1.57g/t) may represent a faulted offset of the main lode and as such has been missed by drilling to the south. The structure itself remains open to the north, south and down dip. Further infill and extensional drilling is planned, which will be used to determine a maiden Mineral Resource estimation for WNP. | |
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