Gascoyne Resources reported remarkable new drill intersections from ongoing resource drilling at the Gilbey’s North prospect, located less than 1,000 meters from the +2.5 million tpa processing plant at its gold project. from Dalgaranga in Western Australia.
Ongoing drilling north, east and south of Gilbey, as well as Plymouth, Sly Fox and other near-mine targets is part of the overall strategy to increase mineral resources and reserves of ore and extend the life of the mine at Dalgaranga.
Assay results include the spectacular interception of 54 meters at 6.55 grams per tonne gold from 116 m downhole, including 12 m at 20.1 g/t gold, the interception thickest high-grade gold in the history of the project.
Gascoyne Resources managing director Simon Lawson said the exceptional results at Gilbey’s North continued to illustrate the substantial nature of the gold mineralization the company has discovered at the edge of Dalgaranga’s main mining pit.
“It is important to note that recent drilling has revealed that shallow high-grade mineralization extends from surface in two different directions and is beginning to show signs that the regional potential could be much greater than we would have thought. could imagine it.
“We are particularly intrigued by the west-trending shear zone style of high-grade gold mineralization at Gilbey’s North, as this has never been seen at Dalgaranga before.
“The opportunity to delineate a potentially extensive, high quality system within 1 km of our efficient and operational processing plant is an exceptional opportunity.”
Gascoyne re-entered the ASX in October 2020 and is focused on production, development and exploration of a number of gold projects in Western Australia supported by positive cash flow generated from the Dalgaranga operation .
In fiscal year 2022, Dalgaranga produced over 71,000 ounces of gold. The acquisition of Firefly Resources, which held the Yalgoo project near Dalgaranga, was completed in November 2021. The Melville deposit at Yalgoo has the potential to be mined and transported 110 km by road and integrated into the production plan of Dalgaranga.