The Golden Star prospect is 25 kilometres from Regis Resources’ (ASX:RRL) 5 million tonnes per annum processing plant at Garden Well, and close to its producing mines.
Drilling aimed at extending 500 metres strike
Drilling was focused north and south of a previously delineated strike of 500 metres.
There were 14 reverse circulation and two diamond drill holes completed at the prospect for 2,945 metres.
Mineralised zone extended to 600 metres
Results of up to 25 metres at 2.5 g/t gold and 6 metres at 6.6 g/t were recorded.
Duketon said that the results showed the strike of mineralised zone was now 600 metres and remained open down dip.
The company also highlighted that high grades up to 47.9 g/t continued to be intersected.
An impressive address
Duketon owns a large portion of the Duketon greenstone belt, which it shares with Regis Resources.
The belt is 100 kilometres north of Laverton and hosts Regis’ Garden Well, Moolart Well and Rosemont deposits with combined reserves and resources of about 8 million ounces.
The company’s shares have doubled since December on the back of the Golden Star discovery and establishment of a maiden resource at its Lancefield North project.
This is surrounded by high-profile mines such as Sunrise Dam, Granny Smith, Garden Well and Gruyere.
The current resource is 1.9 million tonnes at 1.5 g/t gold for 96,000 ounces.
Brokers and corporates on the same page
Analysts at Patersons also see prospective upside from the company’s Thompson Bore and Henry’s Bore projects, with the former only 30 kilometres from Regis’ Moolart Well project.
Investors were also buoyed by a recent show of confidence from large gold producer St Barbara Ltd (ASX:SBM).
The company invested $4 million in Duketon in April at a 10% premium to the group’s 30-day volume weighted average price.