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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Gilbeys South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-1-2017: Gascoyne Resources Ltd. announces an Exploration/Drilling Update report for its Gilbeys South deposit at the Dalgaranga project. Drilling results incl. 8m @ 11.5g/t Au from 28m. Gascoyne Resources Limited (“Gascoyne” or “Company”) is pleased to | |
| Resources: | (Reserve, P+P): 13.3Mt @ 1.29g/t Au for 552000oz Au contained at Dalgaranga | |
| CP/QP: | [Overall Report]: Julian Goldsworthy (Internal) | |
| ABSTRACT: | Gascoyne Resources Limited (“Gascoyne” or “Company”) is pleased to advise that it has received the final assay results from the late 2016 RC drill programme at Gilbeys South. The 100% owned 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 Proved and Probable Ore Reserve of 552,000 ounces of gold (see Figures 1 & 2 & Tables 3 & 4 below). The Company expects to report an update to Resources and Reserves later this quarter which will include the Gilbeys South prospect. As announced to the ASX on 23 January 2017, metallurgical testwork results confirm that the Gilbeys South gold mineralisation can be recovered through the proposed Dalgaranga process plant with high recoveries and low reagent consumption. Final results from 2016 Gilbeys South resource drilling have been received. (See Table 1 & 2 and Figure 3). Results continue to show broad zones of gold mineralisation south of the existing Gilbeys open pit and resource. A number of high grade zones have been identified with grades up to 83.7 g/t gold intersected. In addition to the receipt of the final results from Gilbeys South, promising results have also been received from a number of RC holes drill testing below mineralised aircore holes between Gilbeys South and the Sly Fox prospect, which suggest the presence of a sub parallel gold bearing trend. Better results from this zone include, 5m @ 2.9g/t gold from 92m in DGRC283, 8m @ 1.1g/t gold from 46m in DGRC279 and 11m @ 0.9g/t gold from 69m in DGRC281 (see Figure 3). Additional drilling is being planned around the new trend to confirm the orientation and continuity of the mineralisation | |
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