logo-loader
viewDuketon Mining Ltd

Duketon Mining extends strike length at Golden Star in Eastern Yilgarn province

Results of up to 25 metres at 2.5 g/t gold and 6 metres at 6.6 g/t gold were recorded in latest drilling at Golden Star.

Photo of miner holding gold sample
Duketon owns a large portion of the Duketon greenstone belt which it shares with Regis Resources

Duketon Mining Ltd (ASX:DKM) has released assay results for the Golden Star prospect in Western Australia, boosting management’s confidence that it is on to a larger gold zone.

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.

Quick facts: Duketon Mining Ltd

Price: 0.16 AUD

ASX:DKM
Market: ASX
Market Cap: $18.92 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Argo Blockchain CEO 'super optimistic on 2020' as it...

Argo Blockchain PLC's (LON:ARB) Peter Wall chats to Proactive London's Andrew Scott soon after assuming the role of CEO. He says they're ahead of schedule to reach their goal of 17,000 installed machines by the end of the first quarter of this year. ''2020 is really about optimising what...

4 hours, 17 minutes ago

2 min read