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Laneway Resources Ltd.
Summary
| Project: | Agate Creek | |
|---|---|---|
| Deposit: | Agate Creek | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/31/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-1-2020: Laneway Resources Ltd. announces an Exploration/Drilling Update report for its Agate Creek deposit at the Agate Creek project. Regional drill program assay results. A RC drilling program of 46 holes for 2,244m was completed in September/October | |
| Resources: | ||
| CP/QP: | [Overall Report]: Scott Hall (Internal) | |
| ABSTRACT: | A RC drilling program of 46 holes for 2,244m was completed in September/October 2019. The program was comprised of 17 holes (1,002m) at Sherwood, 5 holes (609m) at Sherwood West and 20 holes (633m) on regional areas targeting both potential additional high grade material near the existing open cut pit as well as several regional targets. Drilling results at Sherwood confirm the potential for Laneway to undertake a small cut back on the current open cut pit area to allow for the high grade mineralisation to be mined from deeper mining of the current pit floor, along with extensions into the walls on both sides of the pit and into the northern high wall area. Initial analysis shows potential for 20-25,000t tonnes to be mined in the near term by Laneway Full results for Sherwood drill holes were reported in the ASX announcement dated 26th November 2019. A total of five holes were drilled for 609m along the mapped southern extension of Sherwood West. The aim was to investigate mineralisation potential at depth along this structure. The holes were spaced at approximately 200m intervals along the mapped outcrop and planned to intercept the structure at depths between 50m and 150m. The holes intersected the geological structure as planned but with reduced quartz veining and gold assays returned no significant results. Multi-elemental data suggest further drilling may be warranted as follow up but this will be further analysed moving forward. | |
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