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- Gascoyne Resources (GCY) has received all results from a recently completed reverse circulation (RC) drilling program at its Dalgaranga Gold Project in WA
- Nine RC holes were drilled at the Gilbey’s, Sly Fox and Plymouth deposits to test the down dip potential
- Results peaked at 7.3g/t gold from Gilbey’s, 3g/t gold from Sly Fox, and 3.8g/t gold from Plymouth
- Gascoyne’s Board has approved a follow-up RC program which will primarily target the south of Gilbey’s and Sly Fox with aims to grow the mineral resource
- Gascoyne has ended the day 4.42 per cent in the red with shares trading for 54 cents each
Gascoyne Resources (GCY) has received all results from a recently completed reverse circulation (RC) drilling program at the Dalgaranga Gold Project.
Nine RC holes were drilled at the Gilbey’s, Sly Fox and Plymouth deposits to test the down dip potential.
Gilbey’s Deposit
Four RC holes were drilled at the Gilbey’s Deposit to intersect below the previous program completed in April.
Best results include 11 metres at 4.2g/t gold from 227 metres including six metres at 7.3g/t gold.
This work has confirmed the grade and continuity of the mineralisation which remains open at depth and to the south.
The Sly Fox
An additional four RC holes were drilled at Sly Fox to target potential high grade zones between the base of the open pit and the historical intersection of 40 metres at 2g/t gold.
Three of the holes have returned high-grade intersections with the best result of 26 metres at 1.8g/t gold from 184 metres including 13 metres at 3g/t gold.
Further drilling has been planned for the December quarter to infill and step out the full extent of Sly Fox.
The Plymouth Deposit
The final hole was drilled at the Plymouth Deposit with a strong result of 20 metres at 2.6g/t gold from 150 metres including 13 metres at 3.8g/t gold being returned.
Plymouth remains open in all directions with grades increasing at depth.
“The success of this short drill program highlights that the Board approved accelerated follow up drilling has the strong potential for material additions to mineral resources and ore reserves, which could lead to significant increases to mine life at Gascoyne’s flagship Dalgaranga operation,” CEO and Managing Director Richard Hay said.
Gascoyne’s Board has approved a follow-up RC program which will primarily target the south of Gilbey’s and Sly Fox with aims to grow the mineral resource.
Gascoyne has ended the day 4.42 per cent in the red with shares trading for 54 cents each in a $135.4 million market cap.
