Tombola Gold (ASX:TBA) - Chairman & Managing DIrector, Byron Miles
Chairman & Managing DIrector, Byron Miles
Source: Byron Miles/LinkedIn
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  • Tombola Gold (TBA) intersects high-grade results from drilling at the Little Duke area within the Golden Mile Complex, Queensland
  • The drill results come from the first hole of a five-hole diamond drilling program and returned results of 15 metres at 2.25 g/t gold and 0.71 per cent copper
  • Managing Director Byron Miles says TBA is “extremely excited” by the initial drill results as they indicate a strongly mineralised copper and gold system with growth potential
  • Tombola is undertaking further drilling in the Little Duke area to improve its geological understanding and survey work is planned next month to generate more drill targets
  • TBA shares end the day 14.9 per cent in the red to close at four cents

Tombola Gold (TBA) has received positive results from the first hole of a proposed five-hole drilling program at Little Duke within the Golden Mile Complex, Queensland.

LD22DD001 was drilled to test extensions to the south of gold and copper mineralisation intersected in previous drilling as well as to test geophysical and magnetic targets.

The drillhole successfully intersected high-grade copper and gold, extending the zone of mineralisation to 100 metres along strike.

Results include 27 metres at 1.4 grams per tonne (g/t) gold and 0.6 per cent copper including 15 metres at 2.25 g/t gold and 0.71 per cent copper, and five metres at one g/t gold and 0.86 per cent copper.

Geological interpretation reportedly indicates an iron sulphide-rich copper-gold system similar to other deposits in the broader Cloncurry area.

Managing Director Byron Miles said the company is “extremely excited” by the initial drill results as they indicate a strongly mineralised copper and gold system with growth potential.

“It’s pleasing to see that the results are in line with the positive results from the 2019 drilling program, giving us every confidence that the project can progress into a technical study stage, and involve Little Duke in the longer-term mine development plan, as Tombola aims to become a meaningful Australian gold producer,” he said.

Tombola Gold is undertaking further drilling in the Little Duke area to improve its geological understanding of the structurally-controlled massive sulphide zones and the copper-gold association.

The materials stock also plans to begin survey work at the end of July to generate additional drill targets.

Petrography studies are currently underway and results are expected in early August.

TBA ended the day 14.9 per cent in the red to close at four cents per share.

TBA by the numbers
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