| Announcement Date: | 2022-08-16 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | Gascoyne Resources Ltd. |
| Project name: | Dalgaranga |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Drilling results incl. 59m @ 12.5g/t Au from 139m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Gascoyne Resources Limited (“Gascoyne” or “Company”) (ASX: GCY) is pleased to announce the discovery of a substantial new high-grade lode system on the immediate western flank of its new Gilbey’s North prospect, located less than 1km from the 2.5Mtpa processing plant at its 100%-owned Dalgaranga Gold Project in Western Australia. Together with other recently reported results from this newly discovered east-west oriented mineralised position, the standout intercepts reported in this announcement confirm the consistent width and continuity of the high-grade “Never Never” lode, part of the exciting Gilbey’s North near-mine discovery. The drilling which delivered these exceptional results was oriented in a northerly direction to specifically target the definition of approximate volumes across-strike and up-dip of recently reported high-grade intercepts. The change in drilling orientation has resulted in a major exploration breakthrough at Dalgaranga, resulting in the discovery of a new style of mineralisation that sits roughly at right angles to the predominantly north-south orientation of most of the known deposits. |
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