Gascoyne Resources Limited (ASX: GCY) announced that high-grade mineralisation including 9m @ 7.0 g/t Au from 138m was intersected from the exploration activities at the Tanqueray prospect within its Dalgaranga Gold Project in Western Australia.
GCY said that priority follow-up RC drilling at Tanqueray intersected high-grade mineralisation in fresh rock in two holes, 9m @ 7.0 g/t Au from 138m including 3m @ 15.4 g/t Au; and 8m @ 3.1 g/t Au from 125m. Gascoyne said that results are pending from the recently completed third RC hole.
The company reported that first results from the regional aircore drilling program at Dalgaranga returned a significant intersection of 28m @ 1.5 g/t Au from 64m (EOH) from the Tanqueray prospect.
The company said that the aircore drilling continues testing other regional targets at Dalgaranga, while the current phase of extensional and infill RC drilling has been completed at Gilbey’s and Sly Fox.
Drilling at Tanqueray
The Tanqueray prospect is located on tenements E59/1904 and E59/1709 where the Company holds an 80% interest. Tanqueray is located approximately 2km northwest of the Dalgaranga processing plant.
GCY had commenced regional aircore program in November 2020 and three follow-up RC holes were drilled below the significant aircore drilling intersection at the Tanqueray prospect.
The company announced that the first assay results were received from the regional aircore program and the first two follow-up (of three) RC holes drilled below the significant aircore drilling intersection at the Tanqueray prospect.
Early exploration success
Gascoyne said that the early exploration success at Tanqueray was very encouraging.
The company said that the first results from the regional aircore drilling program at Dalgaranga returned a significant intersection from the Tanqueray prospect of 28m @ 1.5 g/t Au from 64m (EOH) in hole DGAC3219.
This hole is located approximately 300m west of the RC hole drilled in mid-2018, DGRC0509, which had returned intersection of 8m @ 373.5 g/t Au from 53m downhole, including 3m @ 987 g/t Au.
Important AC drilling Intersections from Tanqueray are as shown below.
Follow-up RC drilling
Gascoyne said that three follow-up RC holes (DGRC0635, DGRC0636, and DGRC0640) targeting up and down dip of the aircore intersection was completed, of which assays are pending from the third RC hole (DGRC0640).
Important intersection from first two drill holes includes 8m @ 3.1 g/t Au from 125m (DGRC0635) and 9m @ 7.0 g/t Au from 138m, including 3m @ 15.8g/t Au (DGRC0636).
Significant RC drilling Intersections from Tanqueray are as shown below.
Upcoming RC drilling program
The company announced that a high-priority RC drilling program will commence in late February to follow up these results and test for extensions to the primary fresh rock mineralisation.
GCY said that the follow up program will also target fresh primary mineralisation over the 400m long oxide zone, which includes testing below and along strike of aircore hole DGAC3215 located 200m further east. DGAC3215 had returned an intersection of 52m @ 0.3 g/t Au from 60m to EOH.
Updates and next steps
The company said that aircore drilling continues, testing priority regional exploration targets located within Gascoyne’s highly prospective tenements surrounding Dalgaranga. The company noted that these regional targets at Tanqueray, Lindville, and Gilbey’s corridor area are all located within 10km of the processing plant.
GCY said that a short RC drill program was completed targeting extensions and infill at both Gilbey’s southern zone and Sly Fox. The company said that three RC holes were drilled into the southern end of Gilbey’s targeting extensions to the southerly plunging high grade zone, and a further four RC holes were completed both infilling and extending the Sly Fox deposit. Results from this drilling are pending.
Gascoyne Resources Managing Director and CEO, Mr. Richard Hay said: “Early exploration success at Tanqueray is very encouraging with two RC holes intersecting 9m at 7.0 g/t and 8m at 3.1 g/t in strongly mineralised fresh rock, when following up on an aircore drill intersection of 28m @ 1.5g/t. Furthermore, the regional aircore drilling has now identified an extensive length of under transported cover oxide intersections over a 400m length within the eastern end of the Tanqueray trend.
Given RC drilling immediately intersected high-grade mineralisation in fresh rock, the Company has prioritised mobilisation of another RC rig for the last week of February to target the fresh rock horizon for extensions to the mineralisation along the full 400m length. The company remains well funded and this work will fall within the newly approved $6.3M exploration budget”
* Image source: Gascoyne Resources Limited