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Gulf Industrials Ltd.
Summary
| Project: | Gbane | |
|---|---|---|
| Deposit: | Gbane | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 9/5/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-9-2017: Gulf Industrials Ltd. announces an Exploration/Drilling Update report for its Gbane deposit at the Gbane project. JV - Drilling results incl. 10m @ 2.9g/t Au from 238m. The board of Gulf Industrials Limited [ASX Code: GLF] (the Company or Gulf) | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Peter Gleeson (SRK Consulting (UK) Ltd.) | |
| ABSTRACT: | The board of Gulf Industrials Limited [ASX Code: GLF] (the Company or Gulf) is pleased to announce the results of Phase 1 of the initial drilling program in the Company’s Gbane Project in Ghana. The Company is pleased to announce the results of its first round of exploration drilling at the Gbane Project in the Bolgatanga, Upper East Region of Ghana. The Company’s joint venture partner in Ghana, Cassius Mining Limited was granted a LargeScale Prospecting License in the area in late December 2016. Since then preliminary exploration work has included field mapping, soil geochemical sampling and limited geophysics in the earlier part of 2017. A focused exploration drilling programme commenced in May 2017. The Gbane Project (refer to Figure 1) is located 21 km south-east of Bolgatanga, the regional capital of the Upper East Region, Northern Ghana. The Gbane project lies immediately east of the high-grade underground mine at Shaanxi, is approximately 5km South East of Cardinal’s 4m oz Namdini project, with extensive artisanal workings for gold covering the project area. Gulf has an option to increase the joint venture project area over the whole of the large-scale license, which covers an area of approximately 13.79 km2. Gold mineralisation at Gbane is associated with a series of highly foliated and altered quartz veins situated in a series of low angle (30-40o ) mylonitic shear zones hosted in mainly volcanics and volcaniclastics of intermediate to basic composition. The shear zones can vary in thickness from a few metres to tens of metres wide. The alteration assemblage is typically sericite- chlorite-pyrite and is associated with moderate to intense shearing. The higher-grade gold mineralisation occurs in narrow ( | |
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