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Egan Street Resources Ltd.

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Summary

Project:

Rothsay

Deposit:Woodleys Shear
Location:Australia
Commodities:Gold
Date:3/27/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Feasibility Study
Report details:27-3-2018: Egan Street Resources Ltd. announces an Exploration/Drilling Update report for its Woodleys Shear deposit at the Rothsay project. Drilling results incl. 1.5m @ 11.0g/t Au from 320m. EganStreet Resources (ASX: EGA) is pleased to announce additio
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 additional outstanding 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 four diamond holes which were drilled as part of the infill and extensional programme at the key Woodley’s and Woodley’s East Shears at Rothsay, plus two diamond drill holes as part of the regional exploration programme which targeted the northern end of the Miners Shear and the Clyde Shear The current 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, this will feed into the April Resource update. Positive results were returned including RYDD064 (1.2m at 11.2g/t Au) and RYDD055 (1.5m at 11.0g/t Au). The previously reported hole, RYDD051, was designed to target the inferred material some 40 metres below diamond drill 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. While 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 returned 1.2m at 11.2g/t Au from 417m. This result is extremely pleasing because it demonstrates that the resource continues down dip and remains open at depth

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