RC drill rig at Red Gate. Source: Codrus Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Codrus Minerals (CDR) begins a 3000-metre reverse circulation (RC) drilling program at the Red Gate gold project in Western Australia
  • The program follows on from drilling completed late last year and will follow up on the significant intercepts encountered
  • The aim of this drilling is to increase Codrus’ geological understanding and extend the known mineralisation
  • Up to 21.35 g/t gold was intersected in this previous program, demonstrating that Red Gate hosts both high and low-grade mineralisation
  • Shares in Codrus are down 3.23 per cent and trading at 9 cents at 1:10 pm AEST

Codrus Minerals (CDR) has begun a 3000-metre reverse circulation (RC) drilling program at the Red Gate Gold Project in Western Australia.

The Red Gate Project lies 140 kilometres north of Kalgoorlie in the Edjudina mining district and lies along strike from Northern Star Resources’ (NST) Porphyry Mining Centre.

This drilling program follows on from drilling completed late last year and will follow up on the significant intercepts encountered.

The aim of this drilling is to increase Codrus’ geological understanding and extend the known mineralisation.

This previous drilling intersected one metre at 21.35 g/t gold from 80 metres, and 23 metres at 3.82 g/t gold from 14 metres including five metres at 14.29 g/t gold.

This drilling demonstrated that Red Gate hosts both broad zones of high and low-grade mineralisation.

“While our geological understanding of the project is still developing, we know that it has potential to host two distinct styles of mineralisation, which we believe reflects the potential for a much larger system,” Managing Director Shannan Bamforth said.

“We have seen both broader, high-grade zones and broader, lower-grade zones, pointing to a significant level of gold endowment across the project.

“This next program is designed to give us a much clearer handle on how to vector into the higher-grade zones while expanding the overall mineralised envelope.”

Shares in Codrus were down 3.23 per cent and trading at 9 cents at 1:10 pm AEST.

CDR by the numbers
More From The Market Herald
Ballymore Resources (ASX:BMR) - Non Executive Chairman, Nick Jorss

" Ballymore Resources (ASX:BMR) begins drilling in Queensland

Ballymore Resources (ASX:BMR) has begun drilling at the Matthews Pinnacle and Seventy Mile Mount prospects in…
Ballymore Resources (ASX:BMR) - Non Executive Chairman, Nick Jorss

" Ballymore Resources (ASX:BMR) intersects significant assays at Seventy Mile Mount

Ballymore Resources (ASX:BMR) has intersected significant assays in its initial drilling program at the Seventy Mile…

" Ballymore Resources (ASX:BMR) begins stage one drilling at Ruddygore

Ballymore Resources (ASX:BMR) has begun stage one drilling at the Ruddygore Prospect in North Queensland.

" Ballymore Resources (ASX:BMR) confirms displacement of Duffer lode at Dittmer mine, QLD

Ballymore Resources (ASX:BMR) has confirmed through diamond drilling that the historic Duffer lode at its Dittmer…