Announcement Date: 2022-03-09
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Codrus Minerals Ltd.
Project name: Red Gate
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 23m @ 0.61g/t Au from 37m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Codrus Minerals (ASX: CDR, Codrus or the Company) is pleased to report further assay results from the maiden Reverse Circulation (RC) drilling program completed last year at its highly-prospective 100%- owned Red Gate Gold Project in Western Australia. The Red Gate Project is located 140km north of Kalgoorlie in WA’s Edjudina mining district, which hosts numerous operating mines. The Project is located immediately along strike from Northern Star Resources Porphyry Mining Centre (see Figure 1). The return of the final assays for the maiden drill program at Red Gate demonstrates the potential for the project to host both wide lower-grade and narrower higher-grade zones of mineralisation, with mineralisation widely distributed across all of the key prospects tested to date (Porphyry North, Porphyry West, Grunters, Arieta and Vonu). Planning is currently underway for follow-up drilling, which is planned to commence in the coming weeks, and further UAV (drone) magnetic surveys to assist in enhancing the structural interpretation.
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