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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Sly Fox | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-3-2017: Gascoyne Resources Ltd. announces an Exploration/Drilling Update report for its Sly Fox deposit at the Dalgaranga project. Drilling results incl. 26m @ 1.8g/t Au from 36m. Gascoyne Resources Limited (“Gascoyne” or “Company”) is pleased to advis | |
| 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 first assay results from RC drilling at the Sly Fox prospect within the Company’s 100% owned Dalgaranga Gold Project which 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. Follow up RC drilling has just been completed beneath these first pass aircore intersections, and assay results have been received for 8 of the first 13 RC holes confirming this new gold discovery. Drilling has confirmed broad zones of coherent gold mineralisation intersected over an initial strike length of >200m, remaining completely open along strike and at depth. Gold mineralisation occurs within a NW‐SE trending fault/shear zone that dips steeply to the NE ‐ this is a new mineralised trend not previously recognised at Dalgaranga and will be the focus of ongoing exploration in the Sly Fox area at Dalgaranga. esource and extensional drilling will commence later this week at Sly Fox, and exploration aircore drilling targeting strike extensions of the Sly Fox shear and a number of other parallel structures identified in aeromagnetic data will get underway shortly. | |
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