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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Gilbeys, Caorunn | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/17/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 17-8-2016: Gascoyne Resources Ltd. announces an Exploration/Drilling Update report for its Gilbeys, Caorunn deposit at the Dalgaranga project. Drilling results incl. 12m @ 1.9g/t Au from 19m at Gilbeys South. Gascoyne Resources Limited (“Gascoyne” or “Com | |
| Resources: | (Reserve, P+P): 10.1Mt @ 1.4g/t Au for 442000oz Au contained at Dalgaranga | |
| CP/QP: | [Overall Report]: Julian Goldsworthy (Internal) | |
| 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 Dalgaranga Gold Project contains a Measured, Indicated and Inferred Resource of 23.7Mt @ 1.4 g/t gold for 1.05 million ounces of contained gold including an initial Proved and Probable Ore Reserve of 442,000 ounces of gold (see Figures 1 & 2 & Tables 7 & 8 below). The Dalgaranga Gold Project Resource is currently being updated as part of the ongoing Feasibility Study. 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). As previously announced, Gascoyne is conducting an ongoing multi-rig programme of RC, diamond core resource drilling, drilling at the Gilbeys and Golden Wings Deposits, and RC and Aircore exploration drilling at various existing prospects and new target areas generated from interpretation of recently flown aeromagnetic data (Figure 2). The above reported significant RC results come from recently completed holes at the Gilbeys South area where Aircore drilling results (announced to the ASX on 7 July 2016) demonstrated that gold mineralisation extends a further 550 metres along strike. More recently the first RC results reported (announced to the ASX on 1 August 2016) intersected wide gold zones south of the current Gilbeys 949,000 ounce Resource. Importantly many of the intersected gold zones in these latest holes are at shallow depths close to surface in highly weathered oxide zones. | |
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