- DevEx Resources (DEV) receives initial assay results from drilling at the Nangus Road Prospect within its Junee Copper-Gold Project in New South Wales
- The company is completing a multi-pronged drilling campaign to test a large two-kilometre long gold-copper bedrock anomaly
- Initial intercepts have included four metres at 5.9g/t gold from four metres
- While results for most of the drill holes are pending, DevEx says the results so far suggest the mineralisation is associated with a porphyry copper-gold system
- DEV shares end the day 12.1 per cent in the red to trade at 51 cents
DevEx Resources (DEV) has received initial assay results from its wide-spaced drilling campaign at the Nangus Road Prospect within its Junee Project in NSW.
The company is completing a multi-pronged drilling campaign comprising of diamond, reverse circulation (RC) and air-core (AC) drilling to test a two-kilometre long gold-copper bedrock anomaly defined by wide-spaced AC drilling completed last year.
Initial results from aircore drilling include four metres at 5.9g/t gold from four metres as well as three metres at 1.2g/t from 28 metres.
Results from one reverse circulation hole returned six metres at 1.2g/t from 188 metres.
The gold and copper intercepts reportedly lie within a broad hydrothermal alteration zone and DEV has noted early indications that the mineralisation could be associated with a porphyry copper-gold system.
“While it’s far too early to draw any definitive conclusions, these results together with the large hydrothermal system is demonstrating excellent potential to host significant mineralisation,” Managing Director Brendan Bradley said.
Drilling is still in progress and assay results for a majority of the drill holes are expected over the coming months.
DEV shares have ended the day 12.1 per cent in the red to trade at 51 cents.