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Egan Street Resources Ltd.
Summary
| Project: | Rothsay | |
|---|---|---|
| Deposit: | Rothsay | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/27/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 27-2-2018: Egan Street Resources Ltd. announces an Exploration/Drilling Update report for its Rothsay deposit at the Rothsay project. Drilling results incl. 2.55m @ 32.9g/t Au from 325.3m. EganStreet Resources (ASX: EGA) is pleased to announce some specta | |
| Resources: | (Resource, I+I): 307koz contained at a grade of 10.9g/t Au at project | |
| CP/QP: | [Overall Report]: Julie Reid (Internal) | |
| ABSTRACT: | EganStreet Resources (ASX: EGA) is pleased to announce some spectacular high-grade drilling results which will form part of the impending Resource update and Definitive Feasibility Study on its Rothsay Gold Project in WA. The results come from 5 diamond and 4 RC holes which were drilled as part of the infill and extensional programme at the key Woodley’s and Woodley’s East Shears at Rothsay. EganStreet is also pleased to report that the first substantial regional drilling undertaken at Rothsay in more than 25 years has successfully intersected mineralisation in two other shears which are geologically similar to the Woodley’s and Woodley’s East Shear systems. The Rothsay Resource stands at 307,000oz at 10.9g/t Au The infill drilling includes deeper holes on the Woodley’s Shear which targeted the inferred zone of the current Resource. Hole RYDD051 was designed to target the inferred material some 40 metres below the previously reported hole MRD259 (2.8m at 35.4g/t Au). However due to the hole lifting, hole RYDD051 (2.55m at 32.9g/t Au including 1.1m at 68.5g/t Au), came within 12 metres of hole MRD259. Whilst the high-grade hit confirms the earlier result from MRD259, there remained inferred material to infill. Hole RYDD064 was then designed to intercept the original target, allowing for some lifting of the hole as it was drilled. However, on this occasion the hole did not lift as expected and intersected 0.6m of quartz showing visible gold, 80 metres below the target and at a depth of ~400m below surface. Results for this hole are pending. This result is extremely pleasing because it demonstrates that the resource continues down dip and remains open at depth. | |
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