E79 Gold (ASX:E79) - CEO, Ned Summerhayes
CEO, Ned Summerhayes
Source: Ned Summerhayes/LinkedIn
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  • E79 Gold Mines (E79) completes a major aircore drilling program at its Laverton South gold project in Western Australia
  • A total of 271 aircore holes were drilled at Target 3 and Target 4 to infill previous drilling, extend the targets to the south, and infill and extend an anomalous zone
  • Results have only been received for Target 3 with up to 0.54 grams per tonne gold intersected
  • Deeper reverse circulation drilling will now be completed at both targets to test them at depth
  • E79 ends the day in the grey with shares trading at 11 cents

E79 Gold Mines (E79) has completed a major aircore drilling program at its Laverton South gold project in Western Australia.

The company recently drilled 176 holes, for 14,350 metres, at Target 3 to infill previous wide-spaced aircore drilling and extend the target to the south.

Results have been received for the first 80 holes with assays showing thick zones of gold anomalism.

A central core zone has been identified where a thick zone of anomalous gold is present until the end-of-hole.

Notably, gold anomalism is associated with pathfinder elements such as copper, zinc, lead, tungsten and arsenic.

Better results include four metres at 0.54 grams per tonne (g/t) gold from 88 metres, eight metres at 0.42 g/t gold from 76 metres, and eight metres at 0.28 g/t gold from 100 metres.

E79 will undertake deeper reverse circulation (RC) drilling later in the year to test this zone at depth.

A second zone is present to the west and shows thick zones of anomalous gold mineralisation below the paleochannel.

In this zone, a 500-metre-long zone of gold anomalism is present and has slightly better grades than those in the central zone.

The western zone will also be tested by deeper RC drilling later in the year.

Aircore drilling was also completed at Target 4 with 95 holes drilled for 3905 metres.

The aim of the drilling was to infill and extend the 2.5-kilometre-long anomalous zone as well as identify a potentially higher-grade zone within the anomaly.

Samples are currently at the lab undergoing analysis with results expected in the coming months.

“The identification of a central core is an exciting development: in addition to being below the regional paleochannel, the central core target shows a thick zone of anomalous gold to the end-of-hole,” CEO Ned Summerhayes said.

“We look forward to testing this target at depth with the upcoming RC drilling program.”

E79 has ended the day in the grey with shares trading at 11 cents.

E79 by the numbers
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