Gascoyne's Gilbey’s North target

Gascoyne Resources ‘intrigued’ by intercepts at Gilbey’s North prospect within Dalgaranga Project

Gascoyne Resources (ASX:GCY) reports standout new intercepts from resource drilling at the Gilbey’s North prospect, located less than 1km from the +2.5Mtpa processing plant at its 100%-owned Dalgaranga Gold Project in Western Australia.

The latest drilling reveals for the first time two orientations to the mineralisation at Gilbey’s North, in what is emerging as a potentially highly significant development for ongoing near-mine exploration.

Gascoyne said the significant new results confirm the consistent width and continuity of the mineral system at the exciting Gilbey’s North near-mine discovery.

Commenting on the results, Gascoyne Resources Managing Director Simon Lawson said: “These latest outstanding infill results at Gilbey’s North continue to illustrate the substantial nature of the gold mineralisation that we have discovered right on the edge of our main operating pit at Dalgaranga.

Importantly, recent drilling has revealed that the shallow high-grade mineralisation extends from surface in two different directions  and is starting to show signs that the regional potential could be much bigger than even we could have imagined.

“We are especially intrigued by the westerly striking shear-zone style of high-grade gold mineralisation at Gilbey’s North”

“We are especially intrigued by the westerly striking shear-zone style of high-grade gold mineralisation at Gilbey’s North, as this has not been seen at Dalgaranga before. In saying that, I have worked in those types of gold systems almost my entire career so the implications of defining that style of deposit has the entire technical team pretty excited.”

Ongoing drilling across Gilbey’s North, East, and South, as well as Plymouth, Sly Fox and other near-mine targets forms part of the overall strategy to grow Mineral Resources and Ore Reserves and extend the mine life at Dalgaranga.

Assay results have been received from infill holes DGRC0957, DGRC0958 and DGRC0973, which were drilled up-dip of the spectacular intercept of 54m @ 6.55g/t Au from 116m down-hole including 12m @ 20.1g/t Au (DGRC0971), which was the thickest high-grade gold intercept seen in the history of the Dalgaranga Gold Project.

The Dalgaranga Gold Project is located some 65km by road North-West of Mt Magnet in the Murchison gold mining region of Western Australia and covers the majority of the Dalgaranga greenstone belt.

An updated Mineral Resource was estimated for the DGP being 24.99 Mt @ 0.81 g/t Au for 648.9k oz of contained gold. An updated Ore Reserve was estimated being 13.53 Mt @ 0.8 g/t Au for 339,0000oz of contained gold.

Significant exploration potential remains at the Dalgaranga Gold Project within the company’s surrounding extensive tenement holdings.

Images: Gascoyne Resources Limited
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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.