Announcement Date: 2022-05-03
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Gascoyne Resources Ltd.
Project name: Glenburgh
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 31m @ 2.54g/t Au from 23m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Gascoyne Resources Limited (“Gascoyne” or “Company”) (ASX: GCY) is pleased to report further exciting drilling results from the significant zone of gold mineralisation discovered immediately north of the Gilbey’s open pit, the main ore source at its 100%-owned Dalgaranga Gold Project in Western Australia. The Gilbey’s North target is located less than 1km west of the +2.5Mtpa Dalgaranga processing plant. Since its discovery, a very high percentage of follow-up drill-holes have intersected significant gold mineralisation (see ASX announcements, 8, 17, 24, 28th February and 22nd March 2022) with the Company well underway with follow-up RC drilling in preparation for a maiden Mineral Resource Estimate (MRE) Gascoyne was reinstated on the ASX in October 2020 and is focused on production, development and exploration of a number of gold projects in Western Australia underpinned by positive cash flow generated from the Dalgaranga Operation. In financial year 2021, Dalgaranga produced in excess of 77,000 ounces of gold. The acquisition of Firefly Resources Limited which held the Yalgoo project approximately 70km southwest of Dalgaranga completed on 10 November 2021. The Melville deposit at Yalgoo has the potential to be mined and hauled 110km by road and integrated into the Dalgaranga production plan.
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