Gascoyne Resources reveals new high-grade intercept expands Never Never lode within Dalgaranga gold project
Gascoyne Resources has identified gold at its Plymouth prospect, which is part of its Dalgaranga gold project in WA, which achieved a maiden gold pour last week.
Gascoyne Resources (ASX: GCY) has returned another thick, high-grade gold intercept from reverse circulation drilling designed to expand the recently-discovered Never Never lode within its Dalgaranga gold project in Western Australia.
Never Never is a high-grade, west-striking and steeply-plunging lode system discovered as a result of drilling to follow-up on wide, high-grade intercepts at the Gilbey’s North extension, located north of the Gilbey’s open pit.
The new intercept lies 40m below the current resource envelope and returned a best result of 50m at 4.58 grams per tonne from 191m, including 24m at 7.3g/t.
It is reported to start at at 191m down hole and takes the established assayed mineralisation from near-surface to beyond 200m below surface, with the system remaining open at depth.
Extensional reverse circulation drilling targeting an area outside interpreted wireframes for a planned mineral resource estimate also returned an intercept of 31m at 3.42g/t gold from 172m including 15m at 5g/t.
Very large gold system
Gascoyne managing director and chief executive officer Simon Lawson said the new results show the company is dealing with a wide, high-grade and “potentially very large” gold system at Never Never.
“The exceptionally high-grade 50m intercept gives us drill-defined evidence that the lode extends 40m below the current resource envelope, while our latest diamond drill core shows visible gold in logged mineralisation at depth,” he said.
“It confirms that the system persists at depth at roughly the same thicknesses and grades, extending from near-surface to now well over 280m in plunge extent and well over 240m vertical depth.”
New mineralisation style
Additionally, Never Never is shaping up to be a new and significant mineralisation style for the Dalgaranga gold field.
“Its location, geometry and orientation are very clearly influenced by regional-scale structures and not necessarily rock types,” Mr Lawson said.
“The very high volume of quartz-silica, the presence of pervasive chlorite, sericite and carbonate alteration, as well as the almost complete lack of any silver or base-metals in high-grade mineralisation intervals, is completely atypical for the area.”
He said the company was “only just starting” its journey towards unlocking the different styles of mineralisation within the Dalgaranga greenstone belt.