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Primary Gold Ltd.
Summary
| Project: | Coolgardie | |
|---|---|---|
| Deposit: | Tycho | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-11-2016: Primary Gold Ltd. announces an Exploration/Drilling Update report for its Tycho deposit at the Coolgardie project. Drilling results incl. 5m @ 14.1g/t Au from 28m. Primary Gold Limited (ASX: PGO) is pleased to announ Primary Gold Limited (ASX: | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Brian Fitzpatrick (Cube Consulting Pty Ltd.) | |
| ABSTRACT: | Primary Gold Limited (ASX: PGO) is pleased to announ Primary Gold Limited (ASX: PGO) ce the assay results of the first four drill holes of the planned 7,000m, 57 hole at the Coolgardie Gold Project in Western Australia. The results achieved to date demonstrate the strong potential for near term mining operations at the Tycho deposit, with thick zones of gold mineralisation occurring less than 50m from surface. The results also demonstrate the nuggetty gold nature of the resources, which is typical of the Coolgardie region. The initial holes form part of infill drilling within the existing mineral resource area of Tycho, however the results are better than expected by comparison with adjacent historical drilling, showing both higher grades and thicker intersections. This has provided potential for an upgrade in Tycho mineral resources and also increased confidence in the overall project. The drilling program has initially focus on areas within and adjacent to the existing mineral resources of the Tycho and MacPhersons deposits, in order to generate sufficient data for completion of the Coolgardie Mine Optimisation Study currently underway. Drilling is now continuing along the southern extent of the tonalite dyke (see Figure 3 overleaf), identified as the structure controlling gold deposition for the MacPhersons deposit (2.5Mt at 1.8g/t for 145,000oz gold). The program will then assess areas of identified cross cutting structures of the tonalite dyke with complementary soil and magnetic anomalies. | |
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