Assay results from the hole, which was drilled to a depth of 300m, are expected in coming weeks with the rig now starting on a second hole at the site.
Craig Brown, chief executive, said: “I am pleased to announce the completion of our first diamond drill hole utilising the company’s in-house drilling equipment, which is a notable event for the Company.
"We intend to continue drilling across various target areas within ECR license areas in the coming weeks and months.
"The presence of a 5.3 metre wide reef (drilled thickness) with visible gold in the first drill hole core is a positive development and we look forward to receipt of assay results from the laboratory as soon as possible.”
The hole intersected the Byron Main Reef at 110m, Brown added.