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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Sly Fox, Seagrams, Greencock | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/17/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-4-2018: Gascoyne Resources Ltd. announces an Exploration/Drilling Update report for its Sly Fox, Seagrams, Greencock deposit at the Dalgaranga project. Drilling results incl. 5m @ 5.9g/t Au from 24m. Gascoyne Resources Limited (“Gascoyne” or “Company”) | |
| Resources: | (Resource, Total): 31.1Mt @ 1.3g/t Au for 1.32Moz Au contained at Dalgaranga | |
| CP/QP: | [Overall Report]: Julian Goldsworthy (Internal) | |
| ABSTRACT: | Gascoyne Resources Limited (“Gascoyne” or “Company”)(ASX:GCY) is pleased to advise of the first results from the 2018 exploration campaign at the Companys 2.3 million ounce Gold Projects (see Figure 1). As announced on 16 January 2018 a multi rig exploration drill programme designed to test a number of the highest priority targets at the 1.3 million ounce Dalgaranga Gold Project is continuing prior to the planned programme at Glenburgh and Egerton. Sly Fox At Sly Fox RC drilling immediately west of the known resource intersected a shallow and high grade zone of mineralization. The zone of mineralisation starts around 20m below the surface, with grades well above the average for the Sly Fox deposit; better intersections include 3m @ 4.3 g/t gold from 21m to EOH, 5m @ 5.9 g/t gold from 24m, 7m @2.8 g/t gold from 29m and 11m @ 1.5g/t gold from 32m (see Figure 2 & 3). The new gold zone discovered on the western edge of Sly Fox; occurs outside the existing resource and west of the current open pit mining operation (ASX Announcement 19 March, 2018). Follow up RC drilling of this zone has commenced with approximately 5,000m planned, drilling will test below the zone and along strike westwards to investigate the possibility that these intersections are related to a higher grade westerly plunging zone of gold mineralization between the Sly Fox and Gilbeys South deposits. The follow up RC program will also target sub parallel structures between the Sly Fox and the Gilbeys South deposits. | |
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