Gascoyne Resources Ltd intersects several high-grade gold zones at Dalgaranga
Gascoyne Resources Limited has intersected several zones of shallow, high-grade gold mineralization in the Eastern Footwall zone of the Gilbey open pit mine, the primary ore source for its wholly owned Dalgaranga gold project in Western Australia.
The drilling highlighted the potential to outline significant new mineralization immediately adjacent to the main mining pit at Dalgaranga and directly below the east ramp that was previously used to access the pit.
Notably, every drill hole assayed to date on the eastern footwall targets has intersected shallow gold grades greater than 0.5 g/t over several stacked zones below the main upper Gilbey ore body, historically exploited, with strong intersections, in particular:
- 2 meters at 2.40g/t from 11 meters;
- 3 meters at 5.54g/t from 26 meters including 1 meter at 14.8g/t; and
- 5 meters at 38g/t from 50 meters, including 1 meter at 176g/t
Looking ahead, the results represent another significant near-mine exploration breakthrough by the company’s geology team, underscoring the significant opportunity to develop mineral resources and ore reserves and extend the mine life at Dalgaranga.
“Exciting Exploration Breakthrough”
Gascoyne Resources Managing Director and CEO Simon Lawson said, “Our near-mine expansion drilling continues to outline new mineralized zones on multiple fronts at Dalgaranga.
The three reverse circulation rigs we currently use are extremely busy drilling for gold at Gilbey’s North, Plymouth, Gilbey’s South and are now following these spectacular shallow gold horizons in the wall of Gilbey’s main open pit – which represents another exciting exploration breakthrough. .
“As you move away from the details of the main Gilbey deposit, you can see a number of parallel mineralized horizons in the overall geometry of the deposit running both north-south through the Gilbey and Plymouth deposits as well as the northern prospect from the recently discovered Gilbey, and also through the east-west deposits of Plymouth and Sly Fox.
“In addition to this regional observation, mining of Gilbey’s main deposit has historically encountered and mined several high-grade zones adjacent to the main ore body in the Gilbey pit wall.
“In fact, a small area of this high quality wall material was mined in January 2022, contributing to our record quarter of March 2022.”
Important discovery “in the mine”
Gilbey’s Eastern Footwall target is made up of a number of individual targets previously thought to be isolated northeast flares, which now appear to be semi-continuous horizons running parallel to Gilbey’s main ore body.
An initial drill program intersected several mineralized lenses grading up to 176 g/t gold along approximately 300 meters strike adjacent to the main Gilbey ore body.
All of the intersections were found less than a kilometer west of the Dalgaranga 2.5+ million tonne-per-year processing plant at the currently operating Gilbey surface mining operation and are easily accessible from the east ramp.
Lawson adds, “Our geology and mining team hypothesized that there may be much more continuity both along strike and down dip in the eastern footwall areas. and that, rather than isolated flares, these high-grade “pockets” might actually be continuous. mineralized zones extending the full length of the pit and beyond – a strike length of over 1,000 metres.
“Using the existing east ramp infrastructure as drilling pads, holes were drilled into the wall at approximately 50 meter spacing along strike, where practicable, and a mix of vertical holes and steeply inclined to the east was drilled into the wall to test this theory.
As recently as January 2022, eastern toe wall material was extracted from the existing infrastructure and processed to good recoveries with a high gravity recovery component.
Three reverse circulation (RC) drilling rigs are currently on site at Dalgaranga targeting:
- Discovery of Gilbey’s North – northwest extension and infill resource drilling – assays pending for approximately 25 holes;
- Eastern Footwall – infill and follow-up drilling for grade control and near term mine planning – assays pending for approximately 5 holes; and
- Gilbey’s South – follow-up and resource drilling as part of the evaluation of future options for the south mine ramp – assays pending for approximately 15 holes.
Lawson adds, “So far, every drill hole we have received from the lab, drilling into the footwall target areas, has encountered significant gold grades in excess of 0.5 g/t, with some holes intersecting several mineralized horizons and some ending in mineralization.
“This provides further validation of our targeting theory at Dalgaranga.
“Keep it simple, drill your best target and the result moves through the mine plan or we quickly test another target – then repeat, repeat, repeat.
“Meanwhile, our disciplined approach to mining and cost minimization continues to deliver results, despite mounting cost pressures, our strategic review is delivering results with the recently announced sale of the Mumbakine Well project to Capricorn. Metals, and we intend to move forward to generate consistent cash flow from Dalgaranga to support our ongoing initiatives to extend mine life and make new discoveries.”