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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Sly Fox | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-5-2017: Gascoyne Resources Ltd. announces an Exploration/Drilling Update report for its Sly Fox deposit at the Dalgaranga project. Drilling results incl. 40m @ 2g/t Au from 185m. Gascoyne Resources Limited (“Gascoyne” or “Company”)(ASX:GCY) is pleased | |
| Resources: | (Resource, Total): 29.6Mt @ 1.3g/t Au for 1.230Moz Au contained at project | |
| CP/QP: | [Overall Report]: Michael Dunbar (Internal) | |
| ABSTRACT: | Gascoyne Resources Limited (“Gascoyne” or “Company”)(ASX:GCY) is pleased to advise that it has received further assay results from RC drilling at the Sly Fox deposit and results from the initial metallurgical testwork for the Sly Fox deposit within the Company’s 100% owned Dalgaranga Gold Project which contains a Measured, Indicated and Inferred Resource of 29.6Mt @ 1.3g/t Au for 1,230,000 ounces of contained gold including Proved and Probable Ore Reserve of 552,000 ounces of gold (see Figures 1 & 2 & Tables 5 & 6 below). Sly Fox RC Drilling The results for the deep RC drilling completed at Sly Fox have been received. The deepest drill hole (DGRC345) to intersect the Sly Fox shear zone to date has intersected the widest and highest grade zone discovered at Sly Fox including 40m @ 2.0g/t gold, including 23m @ 2.5 g/t from 185m downhole. This intersection confirms the strong geological continuity of the deposit at depth, at increased grade and width. See Figure 4 & Table 1 & 2 for the drill hole information and intersection details. This new intersection along with the recently intersected shallow mineralisation (see ASX annoumcement 5th April 2017) is currently being incorporated into an initial Mineral Resource estimate for the 250m strike length as currently defined. The second deep RC drill hole (DGRC346) failed to reach the target due to excessive deviation (as outlined in the ASX release dated 5th April 2017, see Figure 5). A diamond tail has been planned for this hole and is expected to commence later in May. The initial Sly Fox Mineral Resource is expected to be released in the next two to three weeks. | |
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