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Gibb River Diamonds (ASX:GIB)- Executive Chairman, Jim Richards
Executive Chairman, Jim Richards
Source: GIB
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  • Phase five aircore drilling at Gibb River Diamonds (GIB) Edjudina Gold Project has extended known mineralisation at the Neta Gold Project in Western Australia
  • The drilling program included 60 holes for 2923 metres drilled, targeting the Neta and Perseverance Prospects
  • Results from the drilling program include 23 metres at 1.61 grams per tonne from 84 metres
  • Drilling identified a new target, Ace of Hearts, which has never been drilled before
  • On the market today Gibb River closed down 5.49 per cent at 8.6 cents per share

Phase five aircore drilling at Gibb River Diamonds (GIB) Edjudina Gold Project has extended known mineralisation at the Neta Gold Project in Western Australia.

The recent drilling program took place in September and included 60 holes for 2923 metres. Drilling targeted the Neta and Perseverance Prospects.

Results from the drilling program includes 23 metres at 1.61 grams per tonne from 84 metres.

At Neta, the Carlsen and Kasparov Lodes appear to join at depth. This interpretation generates a new high grade “Hinge Target” in the axis of the syncline.

While over at Perseverance, a new parallel area of mineralisation was discovered 30 metres to the east if the original lode with results including two metres at 4.82g/t from four metres.

Also in the drilling program the company found a highly prospective three kilometre long zone which lies under alluvial cover along the strike of the eastern side of the Edjudina line of gold workings.

This area has never been drilled and has been named the “Ace of Hearts Cover Target.” An aircore drilling contractor has been hired and drill testing of this target is due to commence early November.

On the market today Gibb River closed down 5.49 per cent at 8.6 cents per share.

GIB by the numbers
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