Gascoyne Resources returns new gold results outside Never Never resource envelope
Gascoyne managing director Simon Lawson says Never Never is shaping up as “one of the best high-grade gold discoveries” in recent times.
Resource extension activities at Gascoyne Resources’ (ASX: GCY) Never Never discovery within the Dalgaranga gold project in Western Australia continue to deliver high-grade results outside of a recently-released mineral resource estimate.
New standout assays include 25 metres at 6.25 grams per tonne gold and 21.65m at 9.1g/t gold, with visible mineralisation intersected down-plunge.
Other highlight gold results have been 10m at 8.8g/t, 29m at 2.5g/t, 4m at 6.1g/t, 11.9m at 14.5g/t and 29m at 2.1g/t.
Priority assays are pending on a series of “short” reverse circulation holes and visible gold diamond holes.
Gascoyne said the results to date illustrate a continuous zone of high-grade gold mineralisation from surface to beyond 500m down-plunge.
Testing the geological model
Managing director Simon Lawson said drilling continues to evolve and test the Never Never geological model.
“These latest results include our first south-dipping diamond hole and give us valuable structural information as well as very solid assays through Never Never and down-dip of Gilbey’s North,” he said.
“Never Never is firming up as one of the best high-grade gold discoveries in recent times and is located less than 1,000m from our operating processing plant at Dalgaranga with a geometry very conducive to efficient mining.”
He said the discovery continues to return exceptional gold intercepts, even in areas thought to be on the periphery of the system.
Never Never discovery
Never Never is a high-grade, west-striking and steeply-plunging gold deposit discovered during a follow-up of wide drilling intercepts from the Gilbey’s North extension discovery, immediately north of the Gilbey’s open pit at Dalgaranga.
In September, Gascoyne released an initial resource estimate for the discovery of 660,000t grading 3.78g/t for 79,600 ounces.
Since then, the company has completed two reverse circulation holes which returned high-grade assays outside of the resource envelope, and two diamond holes which logged visible gold in wide mineralised intercepts down-plunge of the estimate.