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Egan Street Resources Ltd.
Summary
| Project: | Rothsay | |
|---|---|---|
| Deposit: | Rothsay | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 6-2-2017: Egan Street Resources Ltd. announces an Exploration/Drilling Update report for its Rothsay deposit at the Rothsay project. Drilling results incl. 1.7m @ 60.7g/t Au from 401.0m. Egan Street Resources Limited (ASX: EGA, EganStreet or the Company) | |
| Resources: | (Resource): 318kt @ 11.7g/t Au (Ind.) and 306kt @ 10.8g/t Au (Inf.) at Rothsay | |
| CP/QP: | [Overall Report]: Julie Reid (Internal) | |
| ABSTRACT: | Egan Street Resources Limited (ASX: EGA, EganStreet or the Company) is pleased to announce the receipt of all assay results for the infill diamond drilling programme at the Rothsay Gold Project which was completed in December 2016. The drilling results will be incorporated into a re-estimation of the Mineral Resource Estimate (MRE) which is a key component of works underway to complete the Feasibility Study, which has commenced. The infill drilling programme at Rothsay comprised 11 diamond drill holes, which targeted the current inferred zone of the MRE which was contained within, or immediately proximal to, the Scoping Study production target. One of the holes was abandoned due to lifting, however the other 10 holes intersected the “A” Shear, and visible gold was observed in 6 of the holes. The programme also intersected mineralisation in the hangingwall shear (“H” Shear). This mineralisation has been recorded previously but these new results are located further to the south than previous known intercepts. The “H” Shear results will be incorporated into future Mineral Resource estimates to determine their potential economic viability. The Company intends to conduct a further drilling programme to test the up-dip component of the “H” Shear mineralisation to assist with infrastructure planning. | |
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