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Resources & Energy (ASX:REZ) - Chairman, Gavin Rezos
Chairman, Gavin Rezos
Source: Business News
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  • Resources and Energy Group (REZ) has restarted drilling at its East Menzies Gold Project in Western Australia
  • This program will consist of 8000 metres of aircore drilling and will focus on four prospects
  • Samples will be analysed and results will be announced once the entire program is completed
  • Resources and Energy has ended the day with no change and shares trading for 1.6 cents each

Resources and Energy Group (REZ) has restarted drilling at its East Menzies Gold Project in Western Australia.

East Menzies is located 130 kilometres north of Kalgoorlie in the highly prospective Norseman-Wiluna Greenstone Belt.

The project covers an area of 90 square kilometres and is made up of three mining leases, one exploration lease, 28 prospecting leases, and 14 prospecting lease applications.

Resampling of aircore results from the Demeter prospect has indicated the presence of mineralised veining. This resampling has also indicated high-grade results where quartz veining has been located.

These results include three metres at 1.94g/t gold from 75 metres, including one metre at 5.37g/t gold from 75 metres, and seven metres at 0.46g/t gold from 43 metres including one metre at 1.47g/t gold from 47 metres.

Given the broad drilling pattern and angle of the holes, intersecting more than 1g/t gold is very encouraging.

Resources and Energy’s restarted drilling program will consist of more than 8000 metres of aircore (AC) drilling at the Kore, Chronos, Rhea, and Athena prospects.

Both the Chronos and Rhea prospects have been untested for more than 30 years.

Kore

Kore extends from the north of Demeter and drilling will consist of 19 holes for 760 metres on an existing auger drill line.

Drilling will be extended to both the north and south as more tenements are granted.

Chronos

Historic drilling from Chronos has returned results of four metres at 3.13g/t gold from 36 metres, two metres at 0.42g/t gold from 28 metres, and eight metres at 0.32g/t gold from 32 metres.

This drilling program will include 99 holes, totalling 3410 metres, and will aim to validate previous results.

Rhea

Historical drilling from Rhea has returned significant shallow gold grades of nine metres at 1.32g/t gold from 32 metres, including four metres at 2.9g/t gold, and four metres at 1.78g/t gold from 16 metres.

A total of 103 holes, for 3200 metres, has been planned to extend the coverage over a granodiorite (igneous rock similar to granite) intrusive and a gravity low.

Athena

A total of 69 holes, for 1110 metres, will be drilled at Athena.

Samples will be analysed and results will be announced once the entire program is completed.

Resources and Energy has ended the day with no change and shares trading for 1.6 cents each in a $6.202 million market cap.

REZ by the numbers
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