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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