Gascoyne Resources (ASX: GCY) has returned more promising gold intersections from shallow aircore drilling at its 100% owned Glenburgh Gold Project in Western Australia, extending the gold deposits.
Results were from extensional aircore drilling at the Icon, Tuxedo deposits and at the South West Target Area along strike from the new Torino discovery.
At the South West Target area results have identified a continuous trend of significant mineralisation for over 850 metres of strike to the west of the Torino prospect, at shallow depths. Highlights include:
- 8 metres at 6 grams per tonne (g/t) gold
- 2 metres at 2 g/t gold
- 12 metres at 0.7 g/t gold, including 4 metres at 1.3 g/t gold
At Tuxedo results included 14 metres at 2.4 g/t gold, including 4 metres at 5.9 g/t gold and lies 180 metres east of the proposed Tuxedo deposit pit where there is potential to define further resources in this area and extend the open pit potential.
With the recent completion of the Scoping Study, a twelve month Feasibility Study on the Glenburgh project will commence.
Also, the company is planning follow up reverse circulation drilling next week and an update to the resource estimate shortly. The Glenburgh gold project currently has a JORC Resource of 520,000 ounces.