Announcement Date: 2022-10-03
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Cavalier Resources Ltd.
Project name: Leonora
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 6m at 7.19g/t Au from 66m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Cavalier Resources Limited (ASX: CVR) (‘Cavalier’ or ‘the Company’) is pleased to announce high grade assay results have returned from its 100% owned Crawford Gold Project (Crawford). Daniel Tuffin, Executive Technical Director, commented: “This first round of drilling at Crawford was designed to provide further confidence in the current 101,000 oz gold resource, test the potential for extension of the resource along strike and depth, and carry out exploration on potential new targets on the northern part of the lease. The results are extremely encouraging, particularly regarding drilling around, and extensions to, the existing resource area. The resource at Crawford had previously been extensively drilled; however, historic drilling was only carried out to shallow depth. Cavalier’s drilling confirms that significant gold mineralisation exists beneath historic drilling, with multiple holes ending in mineralisation at depth. Additionally, this first round has resulted in firming up strike extension areas, which remain open along strike. The northern extensional area returned a peak intercept of 3m at 12.52g/t Au from 67m in hole 22CFRC00048, while hole 22CFRC00027 in the southern extensional drilling finished in mineralisation of 1m at 4.11g/t Au at 100m deep.
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