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Resources & Energy (ASX:REZ) - Chairman, Gavin Rezos
Chairman, Gavin Rezos
Source: Business News
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  • Resources & Energy (REZ) has intersected up to 15.35g/t gold at the Granny Venn mine in Western Australia
  • Throughout March, 68 reverse circulation (RC) holes were drilled, and samples were submitted to ALS Kalgoorlie for gold assay
  • While all results are yet to be received, those that have exceeded expectations and the grades are higher than modelled
  • Once all results have been received, REZ will update the current resource model and mine planning work will begin.
  • A mining proposal and clearing permit have already been submitted to enable the recommencement of operations
  • REZ is up 2.50 per cent and shares are trading at 4.1 cents

Resources & Energy (REZ) has intersected up to 15.35g/t gold at the Granny Venn mine in Western Australia.

The Granny Venn mine lies within the East Menzies Gold Project which is situated 130 kilometres north of Kalgoorlie.

Throughout March, 68 reverse circulation (RC) holes, for 1779 metres, were drilled and samples were submitted to ALS Kalgoorlie for gold assay.

REZ has received partial results with a best result of 12 metres at 3.69g/t gold from 11 metres including one metre at 15.35g/t gold from 19 metres.

Other results include 10 metres at 5.12g/t gold from 13 metres including two metres at 14.5g/t gold, and nine metres at 3.73g/t gold from 17 metres including one metre at 12.6g/t gold from 25 metres.

Pleasingly, these results have exceeded expectations and the grades are higher than modelled.

As a result, the confirmation of the grade and continuity of the mineralisation warrants further drilling.

Once all results have been received, REZ will update the current resource model and mine planning work will begin.

A mining proposal and clearing permit have already been submitted to enable the recommencement of operations.

REZ is up 2.50 per cent and shares are trading at 4.1 cents at 11:51 am AEST.

REZ by the numbers
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