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Gascoyne Resources Ltd.
Summary
| Project: | Glenburgh | |
|---|---|---|
| Deposit: | New Cobra | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/17/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-9-2018: Gascoyne Resources Ltd. announces an Exploration/Drilling Update report for its New Cobra deposit at the Glenburgh project. Drilling results incl. 7m @ 7.8g/t Au from 84m. Gascoyne Resources Limited (“Gascoyne” or “Company”)(ASX:GCY) is pleased | |
| Resources: | (Resource, Total): 21.3Mt @ 1.5g/t Au for 1.003Moz contained at Project | |
| CP/QP: | [Overall Report]: Julian Goldsworthy (Internal) | |
| ABSTRACT: | Gascoyne Resources Limited (“Gascoyne” or “Company”)(ASX:GCY) is pleased to provide an operational update on the Dalgaranga Gold Project as well as reporting significant new assay results returned to date from exploration drilling at both the Dalgaranga and Glenburgh Gold Projects completed in the previous quarter. Dalgaranga Gold Mine Operational Update: During the September quarter, ramp up of gold production has continued, with over 10,050 ounces of gold recovered to date. Mining has continued to ramp up, with daily movement of approximately 55,000 bulk cubic metres (BCM). This is broadly inline with the mining schedule. As advised in the June Quarterly report, due to the early commissioning of the processing plant and a slower mining ramp up than planned, oxide ore feed has been supplemented by processing lower grade laterite stockpiles. This was required as the ore release from the pits was insufficient to maintain mill feed while removal of overburden and zones of variable near surface grade was completed. Ore release from the three pits is now sufficient to allow continuous mill feed with oxide ore. The change from processing a high proportion of the lower grade laterite ore to processing 100% oxide ore has seen the mill thoughput rate increase during September from 240 tonnes per hour to in excess of 320 tonnes per hour. Plans are in place to increase this to +350 tonnes per hour. Mill feed grades have averaged 0.8 g/t for the quarter to date, with metallurgical recoveries averaging 92%. A major backlog of assay results from the 2018 RC drill programme that was completed approximately 2 months ago is gradually being cleared. Results are now being received regularly. Significant new results are reported below | |
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