Join our daily newsletter At The Bell to receive exclusive market insights
- WA-based gold explorer Bardoc Gold (BDC) has launched a major drilling program at its namesake Bardoc Gold Project near Kalgoorlie
- The 7000-metre program is part of the definitive feasibility study (DFS) being conducted at the project
- The drilling will focus on the Bardoc project’s Excelsior, Zoroastrian, and Aphrodite deposits
- Bardoc CEO Robert Ryan said the program is expected to expand the current 790,000-ounce mining reserve
- The company is also in the process of landing an off-take partner for the gold produced from the project
- Shares in the company are trading nearly eight per cent higher today, currently worth 8.4 cents each
WA-based gold explorer Bardoc Gold (BDC) has launched a major drilling program at its namesake Bardoc Gold Project near Kalgoorlie.
The upcoming 7000-metre drilling program is part of the ongoing definitive feasibility study (DFS) at the project. As part of the program, in-fill drilling will target mining reserves at the project’s Excelsior, Zoroastrian, and Aphrodite deposits.
Bardoc CEO Robert Ryan said the DFS work is building on the “outstanding” pre-feasibility study from earlier this year.
“The recently completed mining studies show exceptional potential to grow the current reserve and mine plan within the current resource,” Robert said.
He said the 7000-metre in-fill program is expected to expand the current 790,000-ounce mining reserve.
“The reverse circulation drilling program is underway with assay results expected in the coming weeks. The in-fill results will form part of the mineral resource update due at the end of September,” he explained.
The drilling plan
The drilling program will focus primarily on the Aphrodite deposit, with 3000 metres of reverse circulation (RC) drilling planned at the Sigma pit and Omega lode extensions.
The drilling at Aphrodite will follow up some impressive hits from recent drilling at Omega which includes a 37-metre intersection grading 6.21 grams per tonne of gold from 90 metres, part of which is a 13-metre zone at 10.94 grams per tonne of gold.
At the Excelsior open pit, Bardoc is planning roughly 2000 metres of RC drilling to target depth extensions to the current designed pit.
The rest of the program will focus on the Zoroastrian deposit to test potential open-pit extensions to the north and east of the mine.
Potential buyers
Bardoc said along with the major drilling program, the company has also received initial indicative term sheets from 16 potential off-takers for the gold produced from the Bardoc project.
The company can now short-list potential off-takers to advance talks to the next stage.
Shareholders seemed impressed with today’s news, with Bardoc shares up 7.69 per cent in afternoon trade and worth 8.4 cents each. The company has a $144 million market cap.
