Caracal Gold PLC (LSE:GCAT) said its second batch of drilling results continued to confirm the strike and depth continuation of the Kilimapesa Hill deposit at the Kilimapesa gold and mining operations in Kenya.
The sample assay results from its reverse circulation (RC) drilling and diamond drilling (DD) programme showed strong gold grades, consistent with expectations.
“The high-grade intercept from DD hole 005 of 29.23g/t Au [grammes a tonne gold] over 1m from 209m provides further proof that the orebody is open at depth,” said chief executive Robbie McCrae. “This has particularly sparked my interest for future drilling and underpins the significant potential of the mine.”
The third batch of RC assay results, including samples from holes on the western extent of Kilimapesa Hill and the mining licence, are due to be delivered to the laboratory in the first week of June.
An updated resource from Kilimapesa Hill is also expected at the end of the second quarter.
"To date, we are very pleased with all aspects of the drilling campaign and look forward to not only an increase in ounces and confidence levels in our mineral resource but also, and importantly, improved information and quality of the existing resource to aid us in our planning and mining operations,” said McCrae.
The RC rig is scheduled to move off Kilimapesa Hill in the first week of June and begin drilling campaigns on the first of three prioritised regional targets on the exploration licence.
“With the drilling on Kilimapesa Hill almost complete we look forward to delivering an updated resource at the end of June and are excited to be moving to the higher-grade regional targets to support continued resource expansion,” said McCrae.