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Gascoyne Resources Ltd.

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Summary

Project:

Dalgaranga

Deposit:Gilbeys
Location:Australia
Commodities:Gold
Date:5/6/2020
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:6-5-2020: Gascoyne Resources Ltd. announces an Exploration/Drilling Update report for its Gilbeys deposit at the Dalgaranga project. Drilling results incl. 40m @ 1.3g/t Au from 239m. Gascoyne Resources Limited (Administrators Appointed) (“Gascoyne” or “Co
Resources:(Reserves, P+P): 16.9Mt @ 0.9g/t Au (501.8koz Au)
CP/QP:[Overall Report]: Julian Goldsworthy (Internal)
ABSTRACT:Gascoyne Resources Limited (Administrators Appointed) (“Gascoyne” or “Company”)(ASX:GCY) is pleased to advise of excellent results from the resource definition RC drilling recently completed at the southern end of the Gilbey’s deposit. As announced on April 30th 2020 (refer to ASX announcement titled “Quarterly Activities and Cashflow”) a 10-hole RC infill drill program targeting the shallower GMZ zone of inferred resources located immediately below the southern end of the Gilbey’s 2019 reserve pit was completed (Figure 2). The program was designed to improve confidence in grade and continuity ahead of an updated Mineral Resource Estimate (MRE). The drilling has confirmed the grade and continuity of GMZ mineralisation – with mineralisation still open to the south of 3450N and down dip. Wide and continuous zones of typical GMZ mineralisation consisting of biotite, sericite, pyrite and silica altered porphyry with quartz-carbonate-pyrite veinlets were intersected.

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