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Egan Street Resources Ltd.
Summary
| Project: | Rothsay | |
|---|---|---|
| Deposit: | Rothsay | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/8/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 8-8-2017: Egan Street Resources Ltd. announces an Exploration/Drilling Update report for its Rothsay deposit at the Rothsay project. Drilling results incl. 2m @ 21.77g/t Au from 64m. Egan Street Resources (ASX: EGA) (“EganStreet” or the “Company”) is plea | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Julie Reid (Internal) | |
| ABSTRACT: | Egan Street Resources (ASX: EGA) (“EganStreet” or the “Company”) is pleased to announce the discovery of two significant zones of high-grade gold mineralisation at its 100%-owned Rothsay Gold Project (“Rothsay” or the “Project”) in WA. The new discoveries have the potential to significantly expand the scale and ultimately the projected production profile of the Rothsay Gold Project. EganStreet’s inaugural reverse circulation (RC) drilling programme was completed in July. The programme consisted of 57 holes totalling 5,112 metres, and was planned to target potential extensions to known mineralisation and test the up-dip positions of mineralisation that may have implications for infrastructure layout. The drilling programme has identified two high-grade zones of mineralisation that will add significantly to the Mineral Resource at the Rothsay Gold Project. Both zones will be accessible by the underground mine development being contemplated in the Definitive Feasibility Study (DFS) that is currently in progress. The location of Woodley’s East Shear, between 30-50m east (see Figure 1) of the existing Woodley’s Shear Resource, provides an attractive potential development pathway for this mineralisation, with the ability to develop crosscuts from the main Woodley’s Mine development to access the Woodley’s East ore. This would provide access to mine the parallel shear at Woodley’s East for a relatively small additional capital cost. | |
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