Gascoyne Resources has discovered multiple high-grade intercepts from an “exceptional” drill hole at its Gilbey’s North prospect within the Dalgaranga gold project in Western Australia.
The DGRC0758 reverse circulation (RC) drill hole returned 56 metres of gold mineralisation across four intercepts.
The most significant intercept totalled 23m at 3.8 grams per tonne (g/t) gold from 13m including 4m at 11.3 g/t. Other hits included 6m at 3.8 g/t gold from 3m including 1m at 10 g/t, 12m at 1.4 g/t gold from 52m, and 15m at 2.3 g/t gold from 81m.
Gascoyne was hoping DGRC0758’s findings would validate recent assays from its DGRC0759 drill hole located 60m west of DGRC0758.
DGRC0759 returned 17m at 3.5 g/t gold including 10m at 5.3 g/t. Combined, the two results suggest consistency and widening of mineralisation at Gilbey’s North.
“This latest drill-hole represents the most significant set of assays generated so far at the emerging Gilbey’s North prospect and provides the company with insights into developing a local-to-regional scale understanding and a potential ‘step-change’ in the targeting of gold mineralisation at Dalgaranga,” Gascoyne said in an ASX announcement.
Gascoyne is continuing surface drilling of near-mine targets to further understand Gilbey’s North, with an initial Gilbey’s North mineral resource estimate to follow.
Gascoyne managing director and chief executive officer Simon Lawson said the company continues to investigate ways of expanding Dalgaranga.
“This remarkable drill result … is a potential game-changer for this emerging gold discovery,” he said. “We have now intersected thick gold mineralisation from surface across multiple lenses and of materially higher-grade material than is currently being mined from the Gilbey’s main pit.
“With each drill-hole we are improving our geological understanding and we are systematically targeting the mineralisation trend southward towards Gilbey’s and northward towards the historic Golden Wings open-pit deposit, some 4km away.
“We are still delineating the extents of the system, as can be seen in a number of drill-holes which did not intersect any significant mineralisation immediately south of the new discovery under the existing haul road.
“However, we are also continuing to encounter some exceptional widths and grades hundreds of metres away from our main operating pit and, importantly, we are continuing to learn more about this growing gold discovery and options to mine it.”
Dalgaranga produced 33,201 ounces of gold in the first half of the 2022 financial year.