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Gascoyne Resources Ltd.
Summary
| Project: | Glenburgh | |
|---|---|---|
| Deposit: | Apollo East | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/17/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-8-2016: Gascoyne Resources Ltd. announces an Exploration/Drilling Update report for its Apollo East deposit at the Glenburgh project. Drilling results incl. 24m @ 0.8g/t Au from 44m at Apollo East. Gascoyne Resources Limited (“Gascoyne” or “Company”) i | |
| Resources: | (Resource, Total): 21.3Mt @ 1.5g/t Au for 1.003Moz Au contained at Glenburgh total | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Gascoyne Resources Limited (“Gascoyne” or “Company”) is pleased to report on further assay results received from exploration drilling activities at its 80% owned Dalgaranga Gold Project in the Murchison region of Western Australia and the 100% owned Glenburgh Gold Project in the Gascoyne region of Western Australia. The Glenburgh Gold Project contains a Measured, Indicated and Inferred Resource of 21.3Mt @ 1.5 g/t gold for 1.0 million ounces of contained gold (see Figures 1 & Table 9 below). A short RC drill program has been completed at Glenburgh; this is the first drilling for some time at project and was focussed on first pass testing soil anomaly targets NE of the known gold deposits and targets north of the Central Resource area. Of note is the discovery of mineralisation in the Apollo East area some 300m East of the Apollo deposit (149,000 ounces of gold) with the intersection of 24m @ 0.8 g/t gold (including 12m @ 1.0 g/t) in 4 metre composite samples from 44m in VRC902 (See Table 3 and Figure 6). This intersection has highlighted the potential for a new zone of mineralisation close to the two largest deposits at Glenburgh (the Icon and Apollo deposits) which combined, host 477,000 ounces of gold. | |
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