E79 Gold Mines (ASX: E79) has resumed aircore drilling at its Laverton South gold project in Western Australia, with chief executive officer Ned Summerhayes saying the company was “excited to be back in the field”.
The program will total 25,000m, with 3,330m completed before a short break for the holiday season.
“The first drill target has already had 3,330m of drilling so far and we will test a number of additional targets through the end of the program,” Mr Summerhayes explained.
E79 Gold debuted on the ASX in October after raising $7 million in its IPO and bringing to market Laverton South near Kalgoorlie and Jungar Flats in WA’s Murchison region.
Laverton South gold project
Laverton South is 130km from Kalgoorlie and lies within the Laverton tectonic zone.
It encompasses 346 square kilometres of tenements and includes the Lake Yindana (207sq km) and Pinjin JV (139sq km) sub projects.
These sub projects are within 15km either side of Ramelius Resources’ (ASX: RMS) 1 million ounce Rebecca deposit.
The Pinjin JV ground is adjacent to Hawthorn Resources (ASX: HAW) Anglo-Saxon deposits and just 7.5km south of the historic Patricia pits.
E79 Gold is farming into Pinjin JV through an agreement with St Barbara (ASX: SBM).
Current drilling is focused on the Pinjin JV area where 40 holes were completed for 3,330m by the end of last year and a further 39 will be undertaken.
The program is due to be completed in March with assays anticipated in April.
With drilling underway at Laverton South, E79 Gold is carrying out a gravity survey at Jungar Flats, which is due to wind up later this month.
“This survey will allow us to gain a better understanding of the geology of the project and focus our exploration efforts moving forward,” Mr Summerhayes explained.
Jungar Flats covers 336sq km of ground in the north Murchison and is 45km from the 2.8Moz Big Bell deposit.