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Greenstone Resources (ASX:GSR) - CEO & Managing Director, Chris Hansen
CEO & Managing Director, Chris Hansen
Source: Chris Hansen / LinkedIn
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  • Greenstone Resources (GSR) makes a new high-grade gold discovery at the Burbanks South mine within the Burbanks Gold Project in Western Australia
  • Greenstone recently drilled 23 shallow reverse circulation holes to validate a number of historical drill holes and confirm a new near-surface gold discovery
  • Grades peaked at 22.1g/t gold and when combined with previous drilling, Greenstone has identified a zone of mineralisation with a strike measuring over 400 metres
  • The drill rig has now mobilised to the Burbanks North mine where it will undertake 1800 metres of RC and diamond drilling
  • Shares in Greenstone are up 3.57 per cent on the market and are trading at 2.9 cents

Greenstone Resources (GSR) has made a new high-grade gold discovery at the Burbanks South mine within the Burbanks Gold Project.

The Burbanks Project lies nine kilometres southeast of Coolgardie in Western Australia and covers over five kilometres of the highly prospective Burbanks Shear Zone.

Greenstone recently drilled 23 shallow reverse circulation (RC) holes, for 1900 metres, to validate a number of historical drill holes and confirm a new near-surface discovery that has never been mined.

New results include four metres at 7.13 grams of gold per tonne (g/t) from 71 metres including one metre at 22.1g/t gold from 72 metres, and eight metres at 4.42g/t gold from 52 metres including one metre at 11.7g/t gold from 52 metres.

This recently completed drilling program, in combination with over 2500 metres of historical RC drilling, has identified a zone of mineralisation with a strike measuring over 400 metres.

CEO and Managing Director Chris Hansen commented on the results.

“Leveraging off the historical drilling, we have now delineated a significant zone of continuous mineralisation starting near surface, extending to over 100 metres depth, over 400 metres along strike, with three high-grade plunges now developing at depth, and importantly, mineralisation remains open in all directions,” Mr Hansen said.

“The initial results of our maiden program clearly demonstrates the potential to add significant ounces to the Burbanks Gold Project through both near-surface discoveries and extensions of known high-grade lodes at depth.”

The drill rig has now mobilised to the Burbanks North mine where it will undertake 1800 metres of RC and diamond drilling.

Drilling is expected to be completed by the end of December with results expected shortly after.

Shares in Greenstone were up 3.57 per cent on the market and were trading at 2.9 cents at 12:49 pm AEDT.

GSR by the numbers
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