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Gascoyne Resources Ltd.
Summary
| Project: | Dalgaranga | |
|---|---|---|
| Deposit: | Sly Fox | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-6-2017: Gascoyne Resources Ltd. announces a Resource Estimation report for its Sly Fox deposit at the Dalgaranga project. Initial Resource estimate for Sly Fox & drilling results incl. 12m @ 3g/t Au. Gascoyne Resources Limited (“Gascoyne” or “Company” | |
| Resources: | (Resource, I.+I.): 1.5Mt @ 1.6g/t Au for 77000 Au contained at Sly Fox | |
| CP/QP: | [Resources]: Shaun Searle (RungePincockMinarco Ltd.) | |
| ABSTRACT: | Gascoyne Resources Limited (“Gascoyne” or “Company”)(ASX:GCY) is pleased to announce a maiden Mineral Resource estimate for the Company’s 100% owned Sly Fox gold deposit located less than 2km from the proposed Dalgaranga Gold Project mill. The maiden Sly Fox Mineral Resource is 1.5Mt @ 1.6 g/t Au for 77,000 ounces of gold. The addition of this new Resource increases the global Dalgaranga Gold Project Resource to 31.1Mt @ 1.3 g/t Au for 1,310,000 ounces of contained gold including Proved and Probable Ore Reserve of 552,000 ounces of gold (see Figures 1 & 2 & Tables 1 & 2) below). Gascoyne’s Managing Director Mr Mike Dunbar commented; “The Maiden Resource estimate of the Sly Fox deposit comes only 3 months after our maiden Resource estimate for the Gilbeys South deposit, which between them have added significant new Resources to the Dalgaranga Gold Project since the DFS was completed in late 2016, and is another step forward for the Dalgaranga Gold Project as it demonstrates the potential to further extend the mine life of the Project. While this initial Resource is modest in size, given it only covers the first 270m of strike defined by RC drilling to date, the shallow mineralisation and the higher than project average grade, mean that it is likely that a pit development at Sly Fox will feature early in the Project’s development, further enhancing the early years of production. The discovery of Sly Fox and the rapid resource delineation also confirms our belief that our dedicated exploration team will continue to deliver further gold discoveries into the future”. | |
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