Gascoyne Resources (ASX:GCY) reports further ‘significant’ drill intercepts from ongoing resource drilling programs at the Gilbey’s East prospect.
The results provide further evidence of the consistent width and continuity of the mineral system at the Gilbey’s East near-mine prospect, located less than 1km from the 2.5Mtpa processing plant at its 100%-owned Dalgaranga Gold Operations in Western Australia.
Ongoing drilling across Gilbey’s North, East and South, as well as Plymouth, Sly Fox and other near-mine targets form part of the overall strategy to grow Resources and Ore Reserves and extend the mine life at Dalgaranga.
Assay results from ongoing north-south oriented “volume validation” drilling at the Gilbey’s North prospect are currently being collated and interpreted, and Gascoyne expects to be able to release these results in the coming days.
Recent drilling targeting in-fill and down-dip extensions of previous intercepts in the Gilbey’s Eastern Footwall area continues to deliver, with significant intercepts including:
- 3m @ 4.5g/t from 54m (DGRC0897)
- 5m @ 7.8g/t from 43m including 1m @ 30.1g/t (DGRC0899)
- 2m @ 5.2g/t from 76m and 3m @ 4.0g/t from 87m (DGRC0965)
- 13m @ 2.0g/t from 65m including 5m @ 4.2g/t (DGRC0966)
Commenting on the results, Gascoyne Resources Managing Director and CEO Simon Lawson said: “We have a strong plan to increase the mine life at Dalgaranga and we are continuing to pursue the highest priority near-mine targets – which are continuing to generate some seriously good numbers.
“We have a strong plan to increase the mine life at Dalgaranga”
Gilbey’s North is the obvious superstar with screaming grade and thickness while Gilbey’s East is the larger-scale quiet achiever, adding to our mineralised inventory. The Gilbey’s South, Plymouth and Sly Fox trend prospects are the current dark horses, with surprising drill hits creating an intriguing puzzle for our geology team to solve.
Each area requires a different approach. Gilbey’s North needs periods of intense drilling, time to think about what the results mean, and then repeat. Gilbey’s East needs methodical, systematic drilling to create shallow mining opportunities to add to the mine plan, while Gilbey’s South, Plymouth and Sly Fox are all related and need additional drilling work.
Complex puzzles aside, it is clear there is a very large mineralised system at Gilbey’s and across Dalgaranga as a whole and we are getting on with the exciting work of outlining what this very large system might mean for Gascoyne and its shareholders.
The fact that we are debt-free with a 2.5Mtpa processing facility at the centre of this large mineralised system is the key to a successful strategy in unlocking value at Dalgaranga. We are finding all the right material with the drill bit.
We are all about changing the head grade potential of our future ore feed. We intend to discover, define and deliver higher-grade material to the mill which has the potential to reshape our future.”
Images: Gascoyne Resources Limited
