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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Gilbeys, Golden Wings | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/7/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 7-10-2016: Gascoyne Resources Ltd. announces an Exploration/Drilling Update report for its Gilbeys, Golden Wings deposit at the Dalgaranga project. Drilling results incl. 22m @ 5.7g/t Au from 102m. Gascoyne Resources Limited (“Gascoyne” or “Company”) is p | |
| Resources: | (Resource, Total): 25.7Mt @ 1.4g/t Au for 1.116Moz 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. The Dalgaranga Gold Project contains a Measured, Indicated and Inferred Resource of 25.7Mt @ 1.4 g/t gold for 1.12 million ounces of contained gold including an initial Proved and Probable Ore Reserve of 442,000 ounces of gold. As previously announced, Gascoyne is conducting an ongoing RC resource drilling at Gilbeys South and aircore exploration drilling at various prospects and new target areas generated from interpretation of recently flown aeromagnetic data (Figure 2). The recent RC and Diamond drilling at Gilbeys South has resulted in further wide and high grade gold intersections. The above RC and Diamond results are from recently completed holes at the Gilbeys South area where Aircore results (ASX release 7 July 2016) and RC results (ASX release 17 August 2016) intersected wide gold zones a further 550 metres south west south of the recently updated resource at Gilbeys of 1,016,000 ounces (ASX release 7 September 2016). Importantly many of the intersected gold zones come from shallow depths close to surface in highly weatherd oxide zones. None of these results reported occur within the Gilbeys deposit resource. The first resource for the Gilbeys South deposit is expected to be completed by the end of the current quarter. | |
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