Cervantes Corporation Ltd (ASX:CVS), now Reach Resources Ltd (ASX:RR1), has begun efforts to produce a new resource estimate at its flagship Primrose Gold Project in Western Australia, following solid assay results from recent exploration.
The campaign consisted of 47 reverse circulation (RC) holes for 3,277 metres, completed over the Blue Heaven and adjacent prospects at Reach Resources’ Primrose Gold Project in the Yalgoo region of WA.
“Solid basis to convert”
Reach Resources chairman Robert Downey said: “The results from this drilling campaign provides the company with a solid basis to convert the previously announced exploration target into a resource estimation.
"The company has already hit the ground running on this piece of work, and we look forward to updating the market in due course.”
Assays from recent drilling at Blue Heaven tenement in the Primrose Gold Project returned:
- 3 metres at 3.33 g/t gold from 15 metres;
- 2 metres at 14.0 g/t from 93 metres, including 1-metre at 26.3 g/t from 93 metres;
- 6 metres at 2.6 g/t from 82 metres, including 3 metres at 3.76 g/t from 82 metres;
- 1-metre at 6.85 g/t from 122 metres;
- 3 metres at 7.96 g/t from 34 metres, including 1-metre at 21.73 g/t from 34 metres;
- 3 metres at 3.81 g/t from 66 metres;
- 6 metres at 2.05 g/t from 24 metres, including 3 metres at 3.28 g/t from 24 metres;
- 3 metres at 8.85 g/t from 75 metres;
- 6 metres at 2.45 g/t from 75 metres;
- 3 metres at 4.55 g/t from 39 metres;
- 15 metres at 3.44 g/t from 72 metres, including 6 metres at 6.69 g/t from 78 metres;
- 9 metres at 2.87 g/t from 57 metres, including 3 metres at 7.93 g/t from 63 metres;
- 9 metres at 1.98 g/t from 54 metres, including 3 metres at 3.39 g/t from 60 metres; and
- 12 metres at 2.65 g/t from 42 metres, including 3 metres at 5.35 g/t from 45 metres.
Blue Heaven exploration
The drilling campaign recently completed at Blue Heaven was designed to:
- Test twin historic holes to verify the results from that historic drilling;
- Support the conversion of the exploration target of 170,000 to 520,000 tonnes at 2.2 to 4.5 g/t gold to a JORC resource estimate. The potential quantity and grade of an exploration target is conceptual in nature, as there has been insufficient reliable exploration data to estimate a mineral resource and it is uncertain if further exploration will result in the estimation of a resource;
- Infill drilling of the exploration target; and
- Test for extensions of the known gold mineralisation on the periphery of the exploration target.
Next steps
There are still 530 metres of historic diamond core assays outstanding.
Following data compilation and amalgamation, the company’s independent resource geologist has now commenced working towards converting the previously announced exploration target into a JORC mineral resource.
The potential quantity and grade of an exploration target estimate is conceptual in nature, as there may have been insufficient reliable exploration data to estimate a mineral resource and that it is uncertain if the current work will allow the estimation of a mineral resource.