Announcement Date: 2023-08-31
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Develop Global Ltd.
Project name: Woodlawn
Location: Australia
Commodities: Gold,Silver,Copper,Lead,Zinc
Highlight: Drilling results incl. 13m at 1.3% Cu, 16.6% Zn, 9.7% Pb, 182g/t Ag, 2.8g/t Au from 107.6m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Develop (ASX: DVP) is pleased to announce that the latest drilling has intersected numerous zones of high-grade copper and zinc mineralisation outside the Resource at its Woodlawn copper-zinc-silver project in NSW. Develop Managing Director Bill Beament said: “Woodlawn is perfectly positioned to capitalise on the coming exponential growth in demand for energy transition metals, particularly from Australia, a tier-1 mining jurisdiction. “It already has a substantial Resource and Reserve base, huge scope for further growth and outstanding near-new mine infrastructure, including a processing plant, surface facilities and underground capital. “These latest results provide more evidence of the project’s quality because they extend the known high-grade mineralisation well beyond the current Resource. This includes several new lenses of mineralisation as well as additional mineralised positions within the Resource. “They are outstanding results which will feed into our Resource update in the coming quarter. This is consistent with our objective of growing the inventory and mine life at Woodlawn. “We are also generating exceptional results from the substantial underground ore development undertaken in the first production lens. “These are every important because they show that the mineralisation is higher grade and wider than outline in the model. For example, grab samples averaged 18.4% ZnEq1 verses an expected 14.3% ZnEq1 . “This augurs extremely well for the start of production”.
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