Dampier hits high-grade gold strike at Zuleika joint venture project
Dampier Gold has reported high-grade intercepts from phase two drilling at the Paradigm East prospect in WA.
Exploration company Dampier Gold (ASX: DAU) has reported strong results from a phase two aircore drilling program last month at the Paradigm East target within the Zuleika gold joint venture near Kalgoorlie, Western Australia.
The program comprised 21 holes for a total 1,055m over an additional 400m of strike extension to mineralisation identified in phase one.
High-grade intercepts within the composite sampling were 24m at 6.39 grams per tonne gold from 28m including 4m at 34.74g/t from 32m; and 8m at 2.2g/t gold from 48m including 4m at 3.25g/t from 48m.
Also recorded were results of 8m at 0.36g/t gold from 52m; 6m at 0.2g/t from 44m; 4m at 0.71g/t from 32m; and 4m at 0.31g/t from 40m.
Other intercepts of more than 100 parts per billion gold were returned, confirming anomalous gold and suggesting the presence of further mineralisation yet to be discovered.
The results are believed to have confirmed and extended a historical high-grade intersection of 7m at 9.8g/t gold including 2m at 30.9g/t from 42m.
High-grade zones
Dampier managing director Annie Guo said confirmation of the mineralisation is considered to be highly encouraging for the Zuleika system to produce high-grade gold zones.
“These exploration results have vindicated [our] strategy of maintaining an aggressive drilling campaign in parallel with an increased understanding of the mineralised systems within the project area,” she said.
“We have hit more high-grade mineralisation in previously untested areas [and] this points to a larger mineralised envelope which will give greater scale to our project.”
Joint venture project
The Zuleika project is a joint venture between Dampier Gold and Torian Resources (ASX: TNR).
In December, the two companies entered into a farm-in agreement whereby Dampier has the right to earn 75% in Zuleika and 50% in the nearby Credo Well project, in a region which has historically produced more than 20 million ounces of gold.
Zuleika represents a 223sq km landholding covering significant regional structures including the world-class Zuleika Shear.
With more than 40 prospects including the drill-ready Paradigm East, Browns Dam and Castle Hill East targets, Dampier is exploring in one of richest gold regions in the world, demonstrated by multiple mines along the Zuleika Shear and on parallel and cross-cutting structures.
Ms Guo said Paradigm East zone has a footprint of over 700m and the confirmation of a high-grade zone is highly encouraging.
“The success at Paradigm East enforces the significant potential of [our] asset portfolio and we believe we are on track to rapidly define JORC resources within the project area,” she said.